How much is my home worth? Is the appraisal value the correct value?

No, the appraisal value is assessed by the County's Appraisal District. The property taxes are evaluated based on the appraised value and/or any exemptions claimed. The market value is different from the appraised value. The best way to determine value before buying or selling is to have a Realtor prepare a comparative market analysis. Realtor's have access to actual recent sales numbers of comparable properties.

No appraisal value is indicative (I assume you talk about appraisal district value). Some houses have been largely upgraded and the appraisal district was not informed and did not update the value. I have seen houses badly torn out as well and the district keeping raising value year on year.
Your tool to determine value before buying or selling is a comparative market analysis.
Don't hesitate to contact me to get one.

Current Market value can be very different than appraised value for taxes. You would need to know what similar homes are selling for $ per sq ft in your neighborhood and multiply by the accurate sq footage of your home and make adjustments for improvements, year built and location. That is what a market analysis is good for.

As others have stated, the appraisal you receive from your county appraisal entity does NOT necessarily represent the true market value of your home. In order to determine that, I would recommend that you contact a REALTOR to provide you with a Comparative Market Analysis that will include the sales prices of other properties in your neighborhood. I would be happy to provide you with one free of charge! Hope this helps! Andrea Usanga REALM Real Estate Professionals - Sugar Land Phone: (832) 577-4602 Email: ahinckson@yahoo.com Web: http://www.har.com/AndreaUsanga "Going the Extra Mile to Bring You Home"

It's probably helpful to understand how/what is being measured in a tax appraisal. In simple terms, they are measuring the "footprint" of your property on the land ... and the measurement is taken from the outside perimeter walls and calculated for sqft based on the outside measurement. Ok.. so say we have a 3000 sq ft home. Would you agree that a 3000 sq ft 10 year old home with brand new stainless steel appliances, granite counters, new A/C compressors and "smart" wiring technology would be worth more in the eyes of a buyer than a 3000 sqft 10 year old home with the original fixtures and laminate counters? Likely... and that's because the INSIDE features ... that the tax people don't even consider in their appraisal ... now very much impact the "value" in the eyes of a buyer. The last piece is location. A 3000 sq ft home in River Oaks is going to likely have a higher value than a 3000 sq ft home in Spring. In my opinion, only a real estate agent can put all the "pieces" together for you .... they look at the home, they look at the neighborhood, they COMPARE your home to recent ones that sold and calculate a value for your home for THE CURRENT MARKET (next year may be way different). This is not an exact science, so contact several realtors and get their input and LISTEN to the factors they felt were important to them when they calculated the value of your home.

Your Home is worth what someone is willing to pay for it, there is no true number until it's sold just estimates based on comparable properties. No,Appraisal value (Fair Market value) provide an objective opinion of value, but it’s not an exact science so appraisals may differ.Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value. Your home's tax assessed value, is usually a percentage of your property's Fair Market Value,what your home should sell for under "normal" market conditions.

The appraisal value is assessed by the County Appraisal District. The property taxes are evaluated based on the appraised value and/or any exemptions claimed. In most cases, the market value is different from the appraised value. Market value is determined by taking into account several factors including but not limited to the condition of the property (upgrades or repairs needed), location, neighborhood trends and recent sold property values. If you are considering selling your house, it is best to contact a realtor to evaluate the current market value of your home. Shama Sheikh Broker Associate Champions Real Estate Group 832-316-0404