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Old 03-02-2010, 03:30 PM
 
1 posts, read 1,236 times
Reputation: 10

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I see homes that are 20-30% off their appraisal prices but I also see homes very close to their appraisal prices (by the county assessor)... one home in particular has had a "history" of a leaky roof that had some patchwork done and probably needs a new roof. The water heater, heater, a/c are also pretty old like about 10 years... should all that factor into the offering price?
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Old 03-02-2010, 03:51 PM
 
Location: DFW
40,952 posts, read 49,162,125 times
Reputation: 55001
The worst place to look at home values / appraisals is your local tax district. If you need values and good reasoning find a good experienced local agent who can pull that info and explain why things sale for what they bring.
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Old 03-02-2010, 03:58 PM
 
Location: Lead/Deadwood, SD
948 posts, read 2,790,973 times
Reputation: 872
If condition is already reflected in price, then no your offer should not attempt to figure issues in a second time - if home is priced like a newer one without these issues then you of course should make some deductions in what you are willing to pay - or whatever place/price in between that makes sense in the homes market area. Ditto to what Rakin as well.
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Old 03-02-2010, 04:00 PM
 
Location: Colorado Springs, CO
1,570 posts, read 5,985,682 times
Reputation: 1405
The assessor's office does not appraise a house - they assess a value for taxation. Three identical homes may be assessed the same, yet one has a new roof, brand new appliances, and other upgrades. If one of the three is sold, the assessment may go up on the recent sale due to the sale price. Until the county assessor does a reassessment, the "market value" on the records may be uneven.
In contrast, an appraiser would look at each house and weigh the +/- of each home against each other.
For you to buy - A good local realtor could do some comps based on sales and market data - such as condition, recent sales, seller's concessions, days on market, etc.
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