MLS data vs tax records

[TexasHorseLady]

Originally Posted by onevthoki

Seriously??? The state/county does not get the record of sale? WOW!

Here is VA it is public record and most of the larger counties have it posted online.

"Under Virginia State Law, these real estate assessment records are public information. Display of this property information on the Internet is specifically authorized by the Code of Virginia §58.1-3122.2 (as amended)."

Sometimes you can even find the amount of the mortgage and the interest rate. (That I think is TOO much information!)

Here, you can sometimes find the amount of the mortgage (if it was filed with the country clerk), and on rare occasions you can find the sales price (if the buyer chose to tell the tax appraiser that information), but you're not required to disclose that personal data to the tax appraiser, and it certainly isn't a matter of public record? Why on earth would it be, any more than your bank book or how much you paid for a dress or car would be?

Just because some folks would like to have it, doesn't mean that they have a right to it even if they think they should. (WAY too much sense of entitlement on the part of WAY too many people that way, these days, it seems to me.) That's part of what this country was founded on, after all.

[onevthoki]

I don't make the laws, but when I am representing buyers, I will use that information to our advantage. And when I am representing sellers, I make sure they know that information is out there.

[EllenArlingtonPark]

Back to the original post-

The amount that the tax records show as value is how the taxing district uses to tax.
The fair market value (FMV) is what houses are selling at and it is the buyers that determine what that value is.

When lenders hire appraisers to assess value they have a very complex matrix of determining value and the value on the tax records has nothing to do with it.

This is what you want to know:

Find 3 house with 1.5 miles of the house you want that are 1.within 200 sq. feet in size 2. within 2 years of age and has the same number of bedrooms and baths and in similar condition. Find 3 active houses like it and 3 pending houses like it and 3 sold houses (within 6 months) like it. Those would be the comps to your house in broad terms. The CMA will show what the average price per sq foot.
Your realtor will do this for you. That will give you an idea of the FMV.

I hope this makes sense.