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

  • Creator
  • #24328
    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 (, Landwatch) but fails in another (assessed values)?

    Thank you

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  • Author
  • John Pitkin
    Post count: 59

    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
    Post count: 1640

    Never use Assessor Mkt Value for pricing offers.

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