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Our home is showing to be $50,000 higher in value than last month. How is that possible?

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October 11 2010 - Gresham
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Some times if there is no activity of homes sold then one sells this will drive the price of a home up. But in the market we are in it should not go up $50,000.  If you think your taxes are to high you will need to challenge them by Dec 31 with the paper work. You have two values on your tax bill market value and assessed value. Assessed value can go up 3% a year and this value is usually 30% less than market value and this is what your taxes are based on not market value. Then bond measures are above the 3% per year increase.  In almost all cases we are selling homes for less than market value. If you need a name of an appraiser send me an email.
Tom Inglesby, Broker
ABR,CRS, CDPE, earth advantage broker
503-319-9035
tinglesby@equitygroup.com
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December 26 2010
One reason your property value may have jumped is because your city planners recently approved a huge development in your area. But I doubt it would of caused it to jump $50,000.. You should contact a local appraiser or a real estate agent. They'll be able to give you a more accurate value on your property
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October 18 2010
Feel free to contact me for a accurate market analysis on your home.  Zillow's zestimate is only a general idea based on computer generated comps and is often very innacurate. There may have been some comps that sold that caused prices to appear to jump. 

Kyle Ball
Mal & Seitz Real Estate
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October 18 2010
The zillow zestimate is just a computer generated number.  It has little to do with real values.  Your home didn't go up in value $50,000 in one month.  If you want to know the legal value of your home you'll need to hire an appraiser, or a real estate agent call tell you approximately what your home will sell for on the market.
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October 11 2010
 
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