Here we go again. Before when the market was a “seller’s market”, appraisals were not keeping pace with market values, we are now feeling that effect again only in reverse. If you are a seller at this time the large number of foreclosures and short sales now on the market are effecting your value. We often hear “my tax assessed value is….. That is not an accurate base of market value and not a true Appraisal. You should have your property priced at what a Real Estate professional has determined with a Market Analysis. Market analysis is based on actual recent sold like style properties, and will also take into consideration what is on the market currently for sale and how long those properties have been listed. This is a tough pill for sellers to swallow, but keep in mind your property is only worth what a “ready, willing and able” buyer will pay.
