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If there have been no comparable homes sold in the last 6-8 months, how do you know what to list it?

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April 05 2010
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Answers (3)

95pickup,

I would like to politely dis-agree with Dahl's answer.

You should NEVER use tax assessments as a pricing tool. Tax assessments follow real estate market by about one year and are based on county BUDGET.  Often tax assessments are not correct since the county does not preview each property individually and does not take into account the condition or the interior of the property.

It means that 
1) if the seller prices a home based on a HIGH tax assessment, the seller runs a risk of not attracting buyers willing to put an offer, because the value is not there from buyer's point of view.

2) if the seller is pricing a home based on a LOW tax assessment, the seller might be losing money.
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April 14 2010

You may want to take a look at the city assessment value as an idea of often time ( higher ) value of the home. 

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April 14 2010
95pickup,

It becomes complicated - most agents use comparable homes that sold in comparable neighborhoods. That is when science becomes art. 

In the end, buyers will decide the price - make sure your listing agent is marketing your property properly to attract the largest possible pool of buyers willing to submit offers.  
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April 13 2010
 
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