Auction sale prices???

maddieleeMarch 1, 2013

This may be a spin off from the "Market has gone Crazy" post...

I recently have started watching the county property auction site. Every property is going for over the Assessed value. Sometimes way over. Surprisingly over, like $ 30,000 over.

Is this the norm? Or has my market gone crazy? Tampa Fl area.

ML

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greendesigns_gw

Assessed value and market are often very different animals. Assessed only has to do with what the property taxes are. Market value is what someone will pay. And obviously, the properties are not being assessed at market value for taxation purposes. Often, it's a non market value minus a homestead exemption as well.

    Bookmark   March 2, 2013 at 9:13AM
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LuAnn_in_PA

My house's assessed value is 1/6 if its market value.

So it makes sense that the houses would sell for more than the assessed value.

    Bookmark   March 2, 2013 at 10:35AM
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