How Is Your Property Value Calculated?
Searching for Tax Information:
We will check the county public tax records of the subject property. We gather valuable data like: Mileage rate. This is important because the higher the milage rate is, the higher the owner’s tax rate will be. This value tends to affect home price conversely; i.e., the higher a tax rate, the lower the value of a home.
Property’s Assessed Value:
We evaluate your current assessed value with our estimates.
Using Comparables:
Using data from the local MLS, we find four or five sold properties that match or are close to your subject property, going back up to six months to one year depending on market trends. If you live in a major metropolitan area and your subject property is pretty typical of the offerings in your city, we’ll have a great chance of finding some very close comparables on your subject property criteria.
Evaluating Market Trends:
We research micro trends around your area of residence for anything that could affect the value of your property. For example, we gather traffic data to determine if there’s major road construction down the block from your property. Despite the overall trend of the market improving in your neighborhood, this micro market trend is going to drive the final number on your comparative market analysis down.
