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What is the Difference Between Assessed Value and Market Value?

Lamacchia Realty

WHAT IS THE DIFFERENCE BETWEEN ASSESSED VALUE AND MARKET VALUE? Two terms that often come up when buying or selling property are assessed value and market value. While these terms may seem similar, they actually represent two different values that can affect the pricing of a property.

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What’s The Leaven Causing Home Prices to Rise Today?

Cleveland Appraisal Blog

Speaking of things rising, home prices, as well as the prices of most other things, are rising rapidly. Recently, some of my well-intentioned clients have asked if it is possible to appraise a home, based upon a “normal market”. Don’t drink the Kool-Aid that any contract price is reflective of market value.

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Need a Property Tax Appeal?

D Fritz Appraisals

In early January each year, every home in British Columbia receives its property tax assessment notice through the mail from BC Assessment. Some property owners may be surprised and possibly even concerned with their home property assessment amount. Between 2021 and 2022, house prices in BC rose by an average of 23.3%

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That Zestimate is NOT Accurate

Lamacchia Realty

“The Zestimate® home valuation model is Zillow’s estimate of a home’s market value. A Zestimate incorporates public, MLS and user-submitted data into Zillow’s proprietary formula, also taking into account home facts, location and market trends. via Zillow.com Are Zestimate’s Worth Looking At?

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How to Avoid Hurting Your Home Appraisal: Cleaning, Updating & Fixing

Listing Spark

Here are a few tips on how to avoid hurting your home appraisal: What is a home appraisal? Home appraisals are a method by which an appraiser reviews a home and compares them to homes in a specific neighborhood to determine their fair market price. What hurts a home appraisal?

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Market Correction or Seller Panic?

Appraisal Buzz

The average 30-year fixed rate mortgage rate was its lowest ever at 2.65% on December 31, 2021. Assuming a $250,000 loan was committed on December 31, 2021, your monthly payment was approximately $1,007 exclusive of escrow for real estate taxes and insurance. Therefore, it begs the question: what will happen to home values?

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Property taxes have been rising. Here’s what it means for housing

Housing Wire

single-family home was $3,901, up 3% compared to 2021, ATTOM reported. ATTOM’s figures are estimates based on an analysis of local tax data, home values and the use of an automated valuation model. The assessed value is often significantly lower than the appraised market value.