What is home value?
Home value means different things to different people, depending on how they are involved in a real estate transaction. The home Buyer may have stars in their eyes, seeing “the castle of their dreams” when they look at the property they are purchasing. Assessed Value The tax assessor will see a very different picture. The assessor wants to create assessed value equality among the town or city’s citizens in order to fairly assess taxes and share the tax burden in an equitable manner amongst all property owners. Towns periodically undertake re-evaluations to update their market assessed value for all properties. While based upon historical sales data, it does not always represent current market data. It is a useful tool in comparing the values of similar real estate properties. Appraisal Value Appraisers must protect the interest of the lender and therefore must be more conservative in the appraisal value they place on a real estate property. The appraisal value is more typically based u
Related Questions
- If I am permitted to use an AVM such as Home Value Explorer® to estimate property value, do I need to provide the borrower with a copy of the AVM result three days before closing?
- How does the EARN Note Investor determine how much of my home value they’ll offer me in cash?
- Whats the Zillow Home Value Index?
