What is Market Value vs Assessed Value in
Decatur, Collier Heights or Cascade, Collier Heights
by Kevin Polite on September 8, 2017
When it’s time to sell your Decatur, Collier Heights or Cascade home, there can be some confusion when determining the value. If you REALLY want to know what it is worth, you can pay to have an appraisal done. An agent should be able to provide you with detailed CMA reports, letting you know what is going on in your neighborhood. Knowing the differences in these home values can set you set your ideal asking price!
What is Market Value vs Assessed Value in Decatur, Collier Heights or Cascade
Market Value by Definition:
According to Fannie Mae, “Market value is the most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus.”
Basically, this is the amount you can expect to get if you keep your house on the market for a few months provided everything goes smoothly and you have potential buyers coming to see your home on a regular basis.
Assessed Value by Definition:
According to Investopedia, “An assessed value is the dollar value assigned to a property to measure applicable taxes. Assessed valuation determines the value of a residence for tax purposes and takes comparable home sales and inspections into consideration.”
Understanding assessed value can be a bit confusing. County property accessors give values to homes for tax purposes, however, these values are not reflective of changes in market value. The difference between the assessed value and the market value is known as the equalization rate. This rate is used by the county to figure your actual property value.
Appraised Value:
But wait, there’s more. Your appraised value can differ from both of these. An appraisal is done by a licensed professional who rigorously checks all aspects of the home. While they might be 100% correct, this is still the opinion of one. Whereas other methods are mathematically calculated based off of your home’s history and market conditions.
What The Internet Has To Say About It:
The large real estate sites have their own formulas for determining property values. These values are broad, and based on market conditions and information entered by users on the site directly. They do not always accurately reflect YOUR home personally. Think of it as Kelly Blue Book for cars. It is a close guess but determining what the ACTUAL market value can be much different. People report seeing these numbers off by $20k, $50k and even more!
What it Means For You As A Seller:
Do your homework! Make sure you have all the numbers listed above and understand terms such as the equalization ratio and fair market value. Make sure you are working with a true professional who can help you to accurately determine the market value of your home.
Setting a great asking price is critical. You do not want to set it too high and have to repeatedly lower it to get buyers in the door. Your pricing history is public information, and repeatedly lowering your price can make buyers think there is something wrong with it. And for obvious reasons, you don’t want to set your asking price too low. To get the price you want you must exercise patience and make sure you are working with a true professional in Decatur, Collier Heights or Cascade.
If you want to learn more about the best ways to sell your Decatur, Collier Heights or Cascade home, send Kevin Polite a message HERE or give our office a call now! 404-299-7100
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ABOUT
Kevin Polite is a Solid Source Realty, Inc. Realtor and the exclusive agent for HausZwei Homes. He specializes in Decatur 30032 and Decatur 30030 including the neighborhoods of Midway Woods, Belvedere Park, White Oak Hills and Meadowbrook Acres. He is also very active in East Atlanta and Atlanta homes in the fast appreciating areas of West End and Westside Trail along the Atlanta Beltline. You will receive personal attention throughout your transactionas he guides you through the home buying or selling process.Call Kevin Today and find out why so many consider him the best agent they have ever worked with.
HausZwei Homes refreshes and re-energizes homes for resale and for rent mainly in the Decatur area including Meadowbrook Acres, Greater Towers, Belvedere Park, White Oak Hills, East Lake, East Lake Terrace and Midway Woods. We have future projects slated for East Atlanta, Sylvan Hills, the Cascade area and along the Westside Trail along the Atlanta Beltline. You won’t find beige and boring in our homes. We maintain the traditional 1950’s ranch style of the home, but add a clean, modern and up-to-date touch to them. We love brick homes and are not afraid of adding color to them. Our kitchens feature European designed IKEA cabinets. You’ll notice the attention to detail in both our homes for sale and our homes for rent. Many of homes are a short drive away from Downtown Decatur and its many shops and restaurants. Others are close to East Atlanta Village. We will soon start our remodels in Sylvan Hills, the Cascade area and Atlanta homes in the fast appreciating areas of West End and Westside Trail along the Atlanta Beltline.
We give back to the community. We are an active sponsor of Friends of Dearborn Park, a DeKalb park located in Midway Woods in Decatur. We support teachers at Peachcrest Elementary School. We have donated time and money to Towers Action Group (TAG). There are many dogs that need adopting and DeKalb Animal Services is busting at the seams with pets that need a loving home.
For more information on these groups go to www.facebook.com/FriendsofDearbornPark and www.facebook.com/TowersActionGroup and dekalbanimalservices.com/adopt-a-pet/dogs-for-adoption
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This is taken from our trip to Palm Springs during a moped tour of Mid Century Modern homes.
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Our first remodel that started it all. Loved it so much I live in it.
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From my Atlanta Journal-Constitution Real Estate Advertising days. Remember the Sunday Homefinder.
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This is my Ralphie. This 112lb lovable Black Lab mix pretty much runs the family. We adopted Ralphie from Lifeline. There are many dogs that need a loving home. http://dekalbanimalservices.com/adopt-a-pet/dogs-for-adoption
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GladysKravitz is typical of the nosy neighbor who’ll wonder how you sold your home so fast!
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Kevin Polite will help you find that Mid Century Modern Home
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Dearborn Park is located in Decatur in the Midway Woods neighborhood. I live in and have sold many homes in this neighborhood.
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HasuZwei Homes gives back to the community. Dearborn Park tree planting in which we donated all of the trees, shrubs and materials. See more photos at www.facebook.com/friendsofdearbornpark
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More volunteer work. This is with Towers Action Group (TAG). We donated paint to help this business on Memorial Drive in the Meadowbrook Acres and Belvedere Park neighborhood. www.facebook.com/TowersActionGroup/
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This is a photo from Mrs. Hines class at Peachcrest Elementary in the DeKalb County School District in Decatur 30032. HausZwei Homes donated money so that the kids in her 2nd grade would have materials for their art project. We believe strongly in support the art in education.
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Many of the homes we sell in Decatur, GA are near Downtown Decatur.
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East Atlanta is a hot area with tons of activity in the Village (EAV) including the annual East Atlanta Beer Fest.
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The Beautiful Restaurant in Cascade Atlanta has been serving great food for many years. It’s one of the many attractions in the Cascade area.
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Busy Bee Café on MLK Dr. is another fixture in Westside Atlanta. Their Fried chicken has been featured on many Food Network shows. Shown here is their collard greens, black eyed peas, mac n cheese all washed down w the uptown (half lemonade half sweet tea) woo wee. I won’t say which of the two ‘tween Busy Bee and The Beautiful is my favorite. It’s too much fun deciding which.
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Even Bernie Sanders loves him some Busy Bee southern cookin’ Soul Food.
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Sylvan Hills has many Craftsmen homes and Sylvan Middle School is widely respected and the teachers go the extra mile.
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Westside Atlanta Beltline. Are you looking for a home near the Beltine? There is a program available to help you down payment assistance. Please call me Kevin Polite, 404-299-7100 for more information.
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Did you inherit a home, about to go into foreclosure or have a home that just wouldn’t be profitable if you sold it with a real estate agent? Being a REALTOR®I understand both side of the equation. We have partnered with and recommend the following if you are in one of these situations:
WWW.WEBUYHOUSESINDECATUR.COM
WWW.SYLVANHILLS.CASH
WWW.WEBUYHOUSESCASCADEATLANTA.COM
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