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Tampa Bay Tampa - St. Petersburg - Clearwater
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Old 12-24-2009, 06:28 PM
254 posts, read 519,736 times
Reputation: 82


Well, I did contact a realtor and he came in even less than Zillow or the county property appraisor website. He hasn't seen my home/property in person yet. Hopefully that may add a little. Man, I know it was all an unrealized gain, but this is hard to digest. I'd have to work and save the max allowed in my 401(k) for 4 or 5 years to replace the lost value on my home.
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Old 12-30-2009, 04:10 PM
91 posts, read 300,534 times
Reputation: 48
Originally Posted by TampaKaren View Post
There are no mass appraisal systems that can value a single property correctly. You can search recent sales on your local Property Appraiser website and a number of internet websites. These third-party valuation websites all get their information from public records (Florida is a disclosure state). As SLCPUNK said, a Realtor can prepare a report on comparable properties based on recent sales in the MLS as well. In many cases, the MLS sales will be more current than public records due to the time involved in government recording. The only way of really knowing is to get a professional appraisal. Even then, the report is based on the reason for the valuation (re-sale, re-finance, insurance, etc.) and is subject to a continually changing market.

HB 521 was signed into effect this year and now puts the burden of proof on the property appraisers for owners that challenge their tax bills. I'd suggest using this value to your advantage. More here --> Burden of proof property tax bill becomes law
TampaKaren is right on. Zillow does not take into account a few things for example...view, home condition, single family residence, condo, townhouse, pool, historic district, school zoning, over improvements, one story vs two story, wood vs brick...it is truly comical.
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Old 12-30-2009, 07:23 PM
Location: Orlando, FL
47 posts, read 132,255 times
Reputation: 25
In the current real estate market, neither are accurate. Get a Realtor to do a CMA for you - most will do it for free if you consider listing your property with them.
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