What is the correlation between the county’s tax assessed price on a home and the price that house will sell for? Nothing. It’s comparing apples to oranges. Here are some things to consider.
Assessed Value is the means to an end. Our local government needs to collect an appropriate amount of taxes to fund their budget.
The government will get what they need – they will either raise our assessments or raise the millage rate. But be assured, they will get the money.
Market Value is determined on what buyers are willing to pay at any given time. The main three criteria are price, location and condition. The seller can control their asking price and adjust the condition.
Tax assessments are assigned annually. It takes awhile for the assessed value to reflect fluctuations in the local market.
Market value is fluid, changing constantly.
Tax Assessors are human – they have good days and bad days, just like the rest of us!
Home buyers’ decisions are subjective – they will buy what appeals to them.
Tax Assessors, for the most part, do not go in your home.
Buyers tour your house and have an opinion about what they want, what they don’t want, the work they are willing to do and the tasks they are willing to overlook.
What does all this mean to you? Are you a buyer? Are you a seller? The tax assesor site is a great place to sleuth info about a neighborhood. But, whether you are a buyer or seller – don’t use the tax assessed value to justify your buying or selling price!
I like to take different roads to get to my routine destinations. Along the way, I notice things. Some make me smile. Some make me shake my head in puzzlement. Some make me do a U-turn to see if my eyes deceived me. Some compel me to take that route again and again. Sometimes I admire. I always attempt to record with a photo (smart phones are a wonderful invention).Some thing I’ve noticed Along the Way:
A truck that had signage – Hillbilly Handyman.
A store to go with it – Hillbilly Palace Thrift Store.
Larger the life picture of Ron Paul as yard ornamentation.
Beautifully manicured and landscaped yard.
The floor covering business that gives “free stimates”. (thought perhaps the letter came off, but opposite side was exactly the same)
Broken plastic lawn chair with For Sale sign.
Dog house with sign that says “Killer” – great security system.
The hidden house – so overgrown you can barely make out the roof line.
Unusual paint colors on houses – lavender/purple exterior -stands out in the neighborhood.
We’re doing some updating in our home kitchen, so I’ve been looking at the current kitchen trends. The National Kitchen and Bath Association does a survey every year and publishes their findings. They calculate the rise and fall of trends in components of kitchens and baths. When making changes, you should consider doing what’s coming up, not what has been. Here’s some of the findings of the NKBA.
White-painted cabinets have been very popular. Cherry is the number one wood choice, maple is second.
The clean simple lines of the shaker style cabinets are still the #1 choice. Contemporary is #2. Designing cabinets to resemble furniture is also very trendy.
Satin Nickel has been the top choice for fixtures since 2011. Oil-rubbed bronze is gaining in popularity.
Granite is still the #1 choice for counter tops, quartz is coming in second and gaining popularity. It is not cheaper, but better for color control and consistency.
Glass is becoming very popular for back-splashes.
Gray color schemes, in both kitchen and bath, have seen a marked increase in the last 3 years.
The good news is, remodels are increasing. Home sales are rebounding. Interest rates are low. Whether you’re making improvements to sell your house or to update, pay attention to what’s trending in the market now. And if you have questions about what the market is doing in your neighborhood, give the Eisenlauer Team a call. We’re Easy to Work With…Hard to Beat!
Facebook plans to build in Altoona. North of I-80 and Bass Pro will be the new home of Facebook’s Tech Center. There is some controversy about how much of an economic impact this will have on our local economy. They will be building a “data center” – whatever that is. It probably will not be built by local contractors. It will employ fewer than 30 people. They are not elite tech positions – salaries expected to be $50,000/yr. They’ve received $18 million of incentives to locate in Altoona. It looks like, at least on paper, Hubbell Realty is making a profit. Hubbell purchased the 197 acres in 2005 for $2.5 million with the intent to develop for residential construction. They sold to Facebook for $4.8 Million.Mortgage rates dropped again this week, according to CNN money. You can get a 15 yr. fixed rate loan for a record low of 2.56%. The most popular term for a mortgage is 30-yr, that was at 3.35%.Greater Des Moines foreclosure rates decreased in February over the same period last year, according to real estate analytics firm CoreLogic Inc. The rate of foreclosures among outstanding mortgages was 2.3 percent, down from 2.65 percent in February 2012. The national foreclosure rate was 2.85 percent in February. The delinquency rate also dropped in Greater Des Moines, to 4.23 percent from 4.7 percent a year ago.Feed Energy’s parent company – Riley Resource Group has begun remodeling work on the former Lakeside Fitness Center building in Pleasant Hill. 30 of the 100 employees will be located in the newly remodeled building. The north side of the this building is predominately glass. Wouldn’t that be a great work view?Home ownership statistics for the 30-35 yr old age group still needs a boost. This is the age group that is typically looked at, as an indicator of the housing market. If you’re in this age group and don’t yet own a house – give us a call and we’ll help you define the advantages of buying a home in today’s market. Eisenlauer Team, Easy to Work With…Hard to Beat!
The Summerfest celebration begins with a parade at 10:00 AM. The route starts at RE/MAX Real Estate Group’s office and ends at Doan’s Park. Check out the schedule on the Pleasant Hill Chamber site. There is a car show at the 5 & Diner starting at 11:00 AM. At 3:00 the festivities continue at Sleepy Hollow Sports Park. Some of the activities that are not listed:Face painting, provided by Courtyard Estates,”Break the Board” provided by Triumph Martial Arts, and we will also be having a Dance Performance at approximately 3:30. There will also be several food items such as: Hamburgers, Hot Dogs, Brats, Pizza, Taco’s, Tropical Sno, Ice Cream Sandwiches and much more!Don’t miss out on all there is to do this Saturday. Admittance is free! Food, Beverages and Inflatables will have a cost. The cost for an all day inflatables wristband is $5.00 for children over 5, $3.00 for children 5 & under, remember your $1.00 off coupon in order to save!
What is the correlation between the county’s tax assessed price on a home and the price that house will sell for? Nothing. It’s comparing apples to oranges. Here are some things to consider.
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