home assessment - Posted by steve c

Posted by RR Smith on June 02, 2000 at 09:18:19:

that depends and maybe… If you are getting good terms (financing!)or if you are getting a old (LOW) interest rate…and if the market keeps going up and if you can add some value under the the umbrella of other SFH in the neighborhood…THINGS would probably work out…Search the archives for “full price” we had this discussion last week~~~~

home assessment - Posted by steve c

Posted by steve c on June 02, 2000 at 09:06:38:

Can anyone tell me if it is alright to purchase a home for more than the assesed value. I know the home is a good deal and will produce some good cash flow. But down the road if I decide to sell it is this a good or bad move?

steve c

Re: home assessment - Posted by Rob FL

Posted by Rob FL on June 02, 2000 at 11:46:47:

If by assessed value you mean the value given to a property from the local government for property tax assessment reasons, then the answer is “yes”, because this value may or may not be accurate at all.

The assessed value is a ballpark figure that may not even be close to the actual value of the property. I have seen properties assessed for much higher than it is really worth and also much lower.

There a really only 3 methods for determining the true value of a property: comparable sales method, replacement cost method, and the net income method. For a single-family home though the comparable sales method is the only way to go.

JP Vaughn wrote a great article on this subject at http://www.creonline.com/art-132.html

your milage may vary - Posted by RR Smith

Posted by RR Smith on June 02, 2000 at 10:26:48:

I like this post it is detailed and goes into the gray areas you (usually) don’t get in a course…