|Published:||Aug 31, 2011 3:44 PM EDT|
|Updated:||Aug 31, 2011 3:55 PM EDT|
Property owners in some market segments are encouraged because homes appear to be selling faster and even for a little more money. But this seemingly good news is creating a new frustration because there is major disagreement on the value of the property.
Here to tell us what homes are really worth is WINK's real estate expert Denny Grimes from Denny Grimes & Co. at Royal Shell Real Estate.
There are two issues here:
1. The first is the age-old misconception of the different values and what they mean.
2. The second issue is the lag time between REAL MARKET VALUE and appraised value.
1. If the appraisal comes in lower than you feel it should then see if there are very recent
closings that may increase the appraised value. If not, you may need a second opinion
2. Never, never, never used assessed value as an indicator as to what property’s market
3. Don’t trust on-line sources when it comes to market value. Seek the opinion of a
professional real estate agent.
If you have a question that you would like Denny to answer, email him at Denny@dennygrimes.com