Return to the Buying and Selling Homes Forum | Post a Follow-Up

 o
Follow-up on assessment question

Posted by UpNorthHey (My Page) on
Thu, May 23, 13 at 12:18

I talked to the City Assessor about why the assessments had fallen 6-13% in the neighborhoods I was looking to buy in. He said the assessment does not reflect any environmental change (big new development or something that would dampen values). He said the drop probably reflected a lag from sales over the past two years. Those sales (which inform the assessments) may have been more foreclosures sold at lower prices, or older sellers anxious to sell at a lower price. He did not really encourage me to use the assessment in making an offer. He said the usual things that if I like the house (good condition etc.) and the neighborhood is well-maintained, then I should not be concerned about the assessment as an indicator.


Follow-Up Postings:

 o
RE: Follow-up on assessment question

thanks for the update! I was curious to know what you found out. I have often seen advertising saying things like
"priced below assessed value" and wondered whether this was foolish. In most cases I suspect it just means the potential buyer may want to appeal his/her tax assessment once the purchase is complete.


 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!


Return to the Buying and Selling Homes Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.


Learn more about in-text links on this page here