How Much Is Your Home REALLY Worth?

There are many great Charlotte area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at 704-500-0026 for a FREE home buying or selling consultation to answer any of your real estate questions.

 
Is looking at your tax value a good way to determine how much your home is really worth? It's a question we get all the time, but the answer is pretty straightforward.

In short, looking at the tax value of your home is an unreliable way to determine your  home's value. Tax values are put in place so counties and municipalities can function properly - those assessed values have little, if anything, to do with what's going on inside your home. If you have a large home, but haven't made any upgrades for 25 years, you may find that your tax assessment is much higher than the price your home will actually sell for.            

Most municipalities reassess once every eight years. They will come around and look at your home to see if you've added a pool or any other additions that may add value to your home. After looking at your information, they are going to come up with a ballpark estimate. Sometimes the estimate is a little off, sometimes they're spot on - but most of the time they're not even CLOSE.

Recently, we sold a home for $282,000 even though the tax value was $218,000! By following the tax assessment you could leave a lot of money on the table by underpricing your home, or you could scare off every buyer in the market by overpricing it based on that value. The best thing you can do to find the TRUE value of your home is meet with a local real estate expert. We'll take a look at what's been going on in your neighborhood and the market conditions throughout the area to determine what your home is worth. 

Don't use tax assessments to determine your home value. You can use the tools we provide here on our website to get a more accurate ballpark number, before giving us a call to put an exact price on it. Don't hesitate to reach out to us, we would love to help you make informed decisions in our marketplace.