Now I know there is supposed to be some swing between the HCAD appraised value and asking, but $600K HCAD, and $985K asking is a bit much, even for a stucco box in this zip code….
commonsense
HCAD assessments and Appraised Value are always lightyears apart. One reason being HCAD uses a magic formula draped over a map while banks and realtors use hard appraisals made on each home. Be glad HCAD appraisals tend to be way too low, less tax burden for the home owner. I’ve sold $4.5 Mln house listed as $1.5 Mln on HCAD.
crosscreek
Commonsense,
I will agree with you on $500,000+ homes but below $500,000 are appraised much closer to market value, the little guy gets screwed again!
htownproud
2013 tax appraisal for this house is $738k (2012 was $671k). Most houses in inner loop/west side are being listed at 150% of appraised value (and even higher).
htownproud
Sorry — I misread HCAD. 2013 market appraisal is $803k.
Beaker
Someone should tell these people about a 12-step program! That wine bar photo looks like the place could be a Spec’s outlet…
Now I know there is supposed to be some swing between the HCAD appraised value and asking, but $600K HCAD, and $985K asking is a bit much, even for a stucco box in this zip code….
HCAD assessments and Appraised Value are always lightyears apart. One reason being HCAD uses a magic formula draped over a map while banks and realtors use hard appraisals made on each home. Be glad HCAD appraisals tend to be way too low, less tax burden for the home owner. I’ve sold $4.5 Mln house listed as $1.5 Mln on HCAD.
Commonsense,
I will agree with you on $500,000+ homes but below $500,000 are appraised much closer to market value, the little guy gets screwed again!
2013 tax appraisal for this house is $738k (2012 was $671k). Most houses in inner loop/west side are being listed at 150% of appraised value (and even higher).
Sorry — I misread HCAD. 2013 market appraisal is $803k.
Someone should tell these people about a 12-step program! That wine bar photo looks like the place could be a Spec’s outlet…