Why is the assessed value different than what you say my Boston North End condo is worth?
The assessed value of your Boston North End condo is not the same as market value or appraised value. There are many homes that could be sold for significantly more than an assessed value or visa/versa.
What is the purpose of an assessed value
The assessed value of a Boston North End condo is used for the purpose of taxes in your local municipality. The assessed value has no impact on how much your home is worth to a potential buyer in the marketplace.
Pricing and Selling Boston North End condos for Sale
Unfortunately, there are many Boston North End condo buyer’s who believe that is your Boston North End condo that is listed higher than the assessed value is overpriced. Boston North End condo buyer’s also question if something is wrong with a home if the list price is much less than the assessed value.
The bottom line is the assessed value has no impact on how much your home is worth. There are home owners who don’t pay attention to their assessed value, just to find out their municipality has been slowly raising it, year after year, even though the market value hasn’t been increasing.