"Market Value"

Taxable Value vs Appraised Value vs Market Value

Do you know the value of your house?  Should you know the value of your house?  YES!!! You should think of your house as an INVESTMENT.  So many people check to see how their 401K is doing but yet they never check on the value of their HOUSE, which may be the best investment you ever make.   

Taxable Value -   This is a value of your house that is given by the county tax appraisal office.   This has NOTHING to do with the market value of your house. The Alexander Home Team has sold homes for an amount well above the Taxable Value and well below the Taxable Value.   The county has to put a value on every single piece of property in the county. Do you think they are spending much time and effort on the value of your house? The answer is no!!  To be honest, a computer program is doing most of the work! Think about it, has anyone from the County Appraisal District ever come by and knock on your door to see the $10,000 floors you put in or your new granite countertops?  

Appraised Value -  This is done by a licensed appraiser and usually done for 2 main reasons.   

1. You have decided to sell your house, a buyer and a seller have agreed on a price and the BANK has hired an appraiser to go out to the house to put a value on the house based on recent sold data, and the condition of the house.  YES, the appraiser will go into your house and give you credit for those new wood floors and those granite countertops you just put in.

2. You want to get a home equity loan and purchase something using the equity you have in your current home, like a POOL.  Once again the appraiser is going to come out to your house and put a value on your home to determine how much money the bank will loan you based on the equity you have in your house.  

Market Value - The only way to find out the true market value of something is to put it up FOR SALE.   This is basic economics. The market value of your house is ultimately the amount that a buyer is willing to offer and the amount that a seller is willing to accept. 

1. Current Market -  What have comparable houses sold for recently

2. Supply and Demand -  How many buyers are there compared to how many houses are for sale.

3. Condition - What is the condition of your house compared to others.  

4. Realtor -  Yes, I do think that hiring the right realtor with the right marketing campaign could change the market value of your house.   

If you ever need information on the value of your house contact The Alexander Home Team - Keller Williams at    512.361.1568 bradalexander@kw.com Salexander@kw.com