Next to “How’s the market?”, the most common question I get is, “Do you have any bargains?” I’ve developed a method for finding them.
Of course what constitutes a “bargain” is very subjective but one metric is the valuation placed on the property by the County Assessor’s office. While not perfect, the homeowners desire to keep his taxes low through a challenge generally keeps these valuations in line. I now have a proprietary algorithm that compares all properties currently on the market against their tax valuations. The results can be filtered and sorted to identify the best bargains that meet your specific criteria. Of the 1,500 residential properties currently on the market in Summit County, about 15% are priced below their assessed values—some as much as 50% below. Now the methodology is not perfect as assessed values do tend to lag market trends and won’t reflect more recent changes in property conditions but our method can get you off to a good start in narrowing prospective purchases. Contact me to have a proprietary search performed using your criteria.