ok so im looking at this property and trying to do some comps to see if it will be a good deal…ive been using the county assesors website to see what the houses around it are sellling for and i found a few that have sold in the last 1-3 years at around 88,000-97,000…my question is though does APV reflect the property’s current condition? this is prolly the only home on the block that really needs some work and its APV is the lowest at 78,000 while the others of the same size and layout are being assessed for a fair amount more…could this be due to the repair needed or is that irrelevent? any input would be great thanks…
Howdy Bigb3433:
The county appraisers rank the condition of the property on a certain scale. I do not know your particular scale but the condition will affect the tax value. To get a better picture of what the project will be worth after fix up you need to look at sold comps and not the tax values.
ok that makes sense thanks for the info…by the way im looking at what the properties have sold for not the apv to do my comps…