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Answers (3)
Best Answer
- sunnyview
- Contributions:25139
I don't think that it has anything to do with the NJDOT, but having a higher Zestimate does not hurt you in that case at all. If you are going to be involved in an eminent domain fight with NJDOT, you need to get an CMA from several local agents and advice form a local attorney. Do not rely on Zillow to value your home.
Owners that have to deal with eminent domain generally come out financially better if they band together as a group before negotiations begin. You also need proof of your property market value plus an extra percentage included on top of that for moving expenses and for hassle factor. The first neighbor to sell generally does not get the most for their house and the last few left generally do not get much at all in eminent domain. Get advice now and then make your plan.
Owners that have to deal with eminent domain generally come out financially better if they band together as a group before negotiations begin. You also need proof of your property market value plus an extra percentage included on top of that for moving expenses and for hassle factor. The first neighbor to sell generally does not get the most for their house and the last few left generally do not get much at all in eminent domain. Get advice now and then make your plan.
- grommy
- Contributions:3
Thank you for your input. My main concern is that Raritan twp may look at the Zillow value and raise my tax assessment accordingly. It is currently assessed at $235,300.00. I have no plans to sell my home. It just seemed odd to me that my neighbors on Emery ave have not been raised to a comparable value. Some of them have more square footage, and one in particular has a finished basement. Mine does not. My gut says to me that there is something fishy afoot. Before retiring I was a private investigator. I think I'm going to dig a little deeper to see what shakes out. Thanks for your reply.
- James Matson, "JamesMatson"
- Contributions:7
Hi grommy, I can't speak for the specifics of how the zestimate is generated, but I could stop by to provide a true comparitave market analysis for your home. Keep in mind that the zestimate isn't an official estimate. It provides a formula based guess on property values for home shoppers.
Why is my home value so high?
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