LandInvestors.com Forums **Ask A Question** What to do when assessor value is at odds with sale values?

  • Creator
    Topic
  • #24328
    John
    Participant
    Post count: 9

    Hi again –

    This question came to me thinking about the other I posted this evening.

    Redfin method – How Steven demonstrated pricing Bullitt County, Kentucky

    What do you do when the Redfin data driven way to find a price per acre for a zip, county etc… is either well above or below what your offer price would be if based purely on assessed values? I imagine when the Redfin method provides a number below, it’s easy to have confidence in that price per acre but what happens if the Redfin method gives you a number above? Well above? On a recent mailer, using the Redfin method, I have a price of $7,000 per acre but when I dug around Parcelfact looking at assessed values and sale prices since the recession, I chopped the price down to $2200 an acre and even that may be too high.
    So what do you do when your test for reason passes in one arena (Realtor.com, Landwatch) but fails in another (assessed values)?

    Thank you
    John

Viewing 2 replies - 1 through 2 (of 2 total)
  • Author
    Replies
  • John Pitkin
    Participant
    Post count: 59
    Pro

    I would use the lower end of the price guestimates in a test mailing of about 1000 offers, then adjust as needed based on the results.

    Kevin Farrell
    Moderator
    Post count: 1640
    ProAdvanced

    Never use Assessor Mkt Value for pricing offers.

    Kevin Farrell - Moderator
    Need more help?
    Schedule a 30 minute call - https://calendly.com/kevin-629

Viewing 2 replies - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.