Can you trust the assessed tax value of your home to predict its value when you sell?
Probably not.
In many cases the market value of your home could be much more. Here’s why:
1. Over the last 3 years the market has performed particularly well. Sales prices for single family homes is trending 6% ABOVE last year’s average values. The City of Edmonton’s computers are working with old data, This will be true for outlying communities as well including Sherwood Park, St Albert. Spruce Grove, Beaumont and Fort Saskatchewan.
2. The tax value will not reflect any improvements you may have made. For example: new windows, doors, flooring and paint. None of these items will be reflected in the algorithm but you have added tens of thousands of dollars to the value of your home.
3. If your home is in a mixed area of older homes and infills, the assessed value is likely to be even more misleading. Only an expert, intimately knowledgeable about the nuances of a particular community and the direction of the market can give you a good idea of market value. Contacting an expert REALTOR® might be the best place to start.
To learn the market value for your home, click this link: Get your FREE Home Evaluation Now
About the author:
You can read more about the author of this blog by clicking this link - Stuart Neal, Broker, REALTOR® & Team Lead.
Our FIXED FEE home selling program gives clients proven results & affordability. To learn more call our Broker Owner & Team Lead Stuart Neal at: 780-760-2014 or visit our program page www.FixedFeeRealty.ca
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