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Fredericksburg Texas Real Estate Assessments and Appraisals

Nov 28, 2009

imageAn assessment in real estate is the setting of a value of property, usually for the purpose of calculating real property taxes.  In Fredericksburg Texas, the Gillespie Appraisal District is responsible for appraising all real and business personal property within Gillespie County.  The district appraises property according to the Texas Property Tax Code and the Uniform Standards of Professional Appraisal Practices.  When a seller decides to put their Fredericksburg TX home on the market, it is not unusual that having paid taxes for years on a certain assessed value, they assume that they know at what price it will sell.  But is this assessed value relevant to achieving success in the sale of your Fredericksburg Texas Home?

As for the potential real estate buyer, what information does the assessed value provide to them?  If the property tax records indicate a lower price than what he or she expected, is this room for negotiation?

In truth, the only value that matters is current Market Value.

A real estate appraisal, property valuation or land valuation is the practice of developing an opinion of the value of real property based on Market Value.  Also called open market value or fair value, market value is simply the price at which people are willing to buy.  The best source of information to determine this price is to know the recent selling price of homes and other relevant data.  And in general, because not all homes are similar a real estate appraisal is usually done by a licensed or certified appraiser.

In the small Fredericksburg Texas home market, the ordinary real estate appraiser has a unique challenge.  Our town is multifaceted.  It has a distinguished Historic District and homes that are also historic throughout other areas.  There are old-fashioned neighborhoods with areas of quality detailed remodeling, blocks of settled family Fredericksburg TX homes and newly built homes in quality subdivisions.  In other words, Fredericksburg homes are not usually apple-to-apple comparisons.  No ordinary appraiser will have the insight and experience to deal with all these variables.  The answer is a well reputed local appraiser with a long history in the Fredericksburg area.

As a REALTOR associated with a well reputed and long established independent local real estate brokerage firm, you can expect me to have the insight and experience necessary to help you understand the Fredericksburg Texas real estate market.  Please feel free to call me at (830) 456-6243 or email (JavaScript must be enabled to view this email address).