This blog new to me. But appraising real estate has been my life long career. In todays market where interest rates are still reasonable, why do you think the real estate market has slowed/stabilized and actually started to decline in some markets? Why are so many mortgage brokers and lenders closing their doors? Why are home sales slowing?
These are some questions home owners, home buyers and investors are asking. They come to appraisers to answer some of these questions or find out the affect on the value of properties they own or are thinking of selling or purchasing.
As a certified residential appraiser, I can help with these questions by preparing an apprasial on the property in question. Feel free to contact me with any questions or comments.
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About Me
- Appraiser 1
- I am a New Jersey, New York and Pennsylvania State Certified Residential Real Estate Appraiser and is on the NJ & NY HUD/FHA roster. I have been in the real estate profession since 1986. I have expanded my company having more then 2 dozen appraisers working for me throughout my areas of coverage.
Areas of coverage:
All of New Jersey
North Jersey: Bergen, Essex, Hudson, Morris, Passaic, Sussex and Warren County.
Central Jersey: Middlesex, Somerset, Hunterdon and Union County.
Southern Jersey: Monmouth, Ocean, Mercer, Burlington, Camden, Cumberland, Salem, Atlantic, Cape May and Gloucester County.
New York: Dutchess, Orange, Rockland, Sullivan, Ulster, Putnam and Westchester Counties.
New York City: Manhattan, Nassau/Suffolk (Long Island), Richmond (Staten Island), Kings (Bronx) and Queens County.
Pennsylvania: Bucks, Montgomery, Northampton, Lehigh, Philadelphia, Delaware, Berks, Wayne, Pike, Lackawanna, Carbon, Lehigh, Schuylkill, York, and Adams.
North Jersey: Bergen, Essex, Hudson, Morris, Passaic, Sussex and Warren County.
Central Jersey: Middlesex, Somerset, Hunterdon and Union County.
Southern Jersey: Monmouth, Ocean, Mercer, Burlington, Camden, Cumberland, Salem, Atlantic, Cape May and Gloucester County.
New York: Dutchess, Orange, Rockland, Sullivan, Ulster, Putnam and Westchester Counties.
New York City: Manhattan, Nassau/Suffolk (Long Island), Richmond (Staten Island), Kings (Bronx) and Queens County.
Pennsylvania: Bucks, Montgomery, Northampton, Lehigh, Philadelphia, Delaware, Berks, Wayne, Pike, Lackawanna, Carbon, Lehigh, Schuylkill, York, and Adams.
2 comments:
I have a question. We are currently appealing our tax assessment in glen ridge. I know we can not compare our tax assessment to our neighber's in court but I can't help but wonder...
Our next door neighbor has a comparable house with lot size 50 x 250. They were assessed at roughly the same price as we were but our lot size is only 50 X 75.
In your estimation, (I would not quote you on this, I just want to know for curiosity sake) if both houses/properties were exactly the same and only lot size was a variable. What would you say the difference in these two property values might be? (I am only talking property value, not including the house itself) Can you give me a rough estimate/range? (Would you estimate the difference might be roughly $50,000-$70,000 or less??)
Thank you for your time
I now this is coming late, but there is no easy way to answer your question. Just as there are many different aspects that an appraiser can adjust for features on a house, there can be several aspects in land as well. Including topography, usable land, how a buyer perceives the difference in lot size to name a few.
Without doing a land appraisal I or any other appraiser can not give you a value.
Being you are going for a tax assessment appeal, I can tell you unless your neighbor sold his property, the tax board will not let you mention anything about it.
For tax assessment appeals you must only bring in comparable sales and state how they differ from property. You must prove to the tax board or tax court what your property as a whole is worth as of 10/01 of the pre tax year. they do not want to hear how your assessment differs from any other property and you can not appeal just the land value assessment or just the improvement value assessment, only the total value assessment
I hope this helps. If you have not yet gone before the tax board or if you have and are planning on appealing the tax board's decision, the best suggestion I can give is to have your property appraised and hire the appraiser to testify for you. This only gives you more credibility for your case.
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