Monday, March 21, 2011

How Accurate is the Pender Property Revaluation?

Getting ready New Hanover?


“Sellers call me and ask me questions, especially those who have values that have come in higher than what we have listed,” said Dawn Berard, of Sold Buy the Sea Realty. “They ask if the values were wrong or if the market was wrong. Unfortunately, I would say the values are wrong on a lot of these properties.”

Berard said more people have contacted her since this revaluation compared to the last revaluation eight years ago.

[...]“I had another property of a home … the revaluation almost doubled the tax value of the property, and there's no reasoning behind it based on the sales in that general area over the last couple of years,” she said.

[...]Some of the houses Cooper sells are in Surf City and elsewhere on Topsail Island. She said she has found some new tax values of properties “quite a bit higher than what some of them are selling for.”

Cooper said she's run into just one case that “seemed pretty accurate” so far.

“The prices have come down so much, almost to the 2003 prices,” she said.

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