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LIGHTNING
06-04-2008, 09:28 AM
How resent do the comps need to be to be valid?

foodplotplanter
06-04-2008, 09:30 AM
all the ones used by my agent are no more then 6 months old

Jim Thompson
06-04-2008, 09:45 AM
12 months is the norm, but the newer the better

K80
06-04-2008, 10:03 AM
12 months is the norm, but the newer the better

It really all depends on the activity in the market area and the type of property being appraised but JT is correct the norm is 12 months or newer and the newer the better especially in the today’s market although, with some properties (especially odd balls) there are not any current sales similar to the subject so older sales must be used.

LIGHTNING
06-04-2008, 10:05 AM
I have a meeting with the tax assessor this morning and want to know where they got their info on comps because housing sales have been very slow in my area for the last year or more and I think they are using comps that are several years old.

jimbo4116
06-04-2008, 10:09 AM
How resent do the comps need to be to be valid?

In today's market, yesterday would be a good starting point.

Are you buying or selling? By and large the fluffed appraisals put on housing in the last 3 years are a big part of the busted real estate bubble.

LIGHTNING
06-04-2008, 10:18 AM
county reappraisal

K80
06-04-2008, 10:35 AM
In today's market, yesterday would be a good starting point.

Are you buying or selling? By and large the fluffed appraisals put on housing in the last 3 years are a big part of the busted real estate bubble.

Now jimbo you are making the appraisers look like the only bad guy here and we both know it is a whole lot broader than that. I had a long post wrote out but won't post here since this is the on topic forum.

georgiaboy
06-04-2008, 11:10 AM
Lightning, If you know a real estate agent in your area I bet buying them a nice lunch would get you all the recent comps you need to support your property value.

We recently contested the assessed value of a home we own and we sent 6 comparables within the last few months. I havent seen the results but it will be hard to dispute because we kept the comps within 4 miles (rural area) and within 15% or less of finished above grade square footage.

Consistency in the comps is the most important thing as it leaves less subjectivity to the county appraiser. I have found ours to be very fair, I hope yours will be too!

LIGHTNING
06-04-2008, 11:46 AM
Lightning, If you know a real estate agent in your area I bet buying them a nice lunch would get you all the recent comps you need to support your property value.

We recently contested the assessed value of a home we own and we sent 6 comparables within the last few months. I havent seen the results but it will be hard to dispute because we kept the comps within 4 miles (rural area) and within 15% or less of finished above grade square footage.

Consistency in the comps is the most important thing as it leaves less subjectivity to the county appraiser. I have found ours to be very fair, I hope yours will be too!

I have two old appraisals that list 7 different comps I think that I will research those.

jimbo4116
06-04-2008, 12:12 PM
Now jimbo you are making the appraisers look like the only bad guy here and we both know it is a whole lot broader than that. I had a long post wrote out but won't post here since this is the on topic forum.

I said part of and not all apprasiers were involved.

If this is a county tax re-apprasial and if you have access to Qpublic.com you can research recent sales yourself, if you know the lot and parcels or your neighbors names. IF you have access to the maps you can zoom in on your neighborhood and see what the other properties have been re-appraised. Just log on to Qpublic.com and see where it takes you. You should get a list of counties that is is a available for. It will have all the county tax info and recent sales info.

We just received our apprasials and It was shocking at the difference in values given to similar properties.

K80
06-04-2008, 12:22 PM
You can use this site http://gaassessors.com/ to find the qpublic site for your county. Not all Ga's counties have sites and some are eaiser to navagate than others.

DCHunter
06-04-2008, 12:26 PM
If you're having trouble loggin on to this site...it's qpublic.net

I said part of and not all apprasiers were involved.

If this is a county tax re-apprasial and if you have access to Qpublic.com you can research recent sales yourself, if you know the lot and parcels or your neighbors names. IF you have access to the maps you can zoom in on your neighborhood and see what the other properties have been re-appraised. Just log on to Qpublic.com and see where it takes you. You should get a list of counties that is is a available for. It will have all the county tax info and recent sales info.

We just received our apprasials and It was shocking at the difference in values given to similar properties.

jimbo4116
06-04-2008, 12:32 PM
If you're having trouble loggin on to this site...it's qpublic.net

My Bad.

But an interesting site to visit if you are as nosy as I am.

Arrow Flinger
06-04-2008, 04:59 PM
12 Months was the norm but with the changing market, I try not to use anything over 6 months. Some lenders will not even accept comps over 6 months but 12 months should be acceptable for your purposes.

Here is the qpublic site for Monroe County. It seems to be updated till Jan 08. The easiest way is to do a location search for your home. When that comes up, on the top left of the screen there will be a link for "recent sales in the area" if that doesn't give you what you need. Do a sales search.

http://gaassessors.com/loadpage.php?refurl=http://qpublic.net/ga/monroe

Hope that helps

LIGHTNING
06-04-2008, 06:54 PM
I looked at the Monroe county site and values are all over the board, but I got some info and will set up another appointment.

Arrow Flinger
06-04-2008, 07:56 PM
You have to compare your home, Sq ft, basement, lot size ect to the sales and find homes that are comparable to yours to determain an estimated value. I am an appraiser and if you will pm me your address, I will see what I can find.

champ
06-04-2008, 10:15 PM
Are you contesting to keep your taxes from going up?

LIGHTNING
06-05-2008, 08:55 AM
Are you contesting to keep your taxes from going up?


I am contesting because I think they valued my house to high.

Arrow Flinger pm sent and thanks for the help.