Our home in Parkville climbed from an actual sale price of $121k in
2002 to appraised value of $198k today, or about 8.5% per year over
six years.
From its sale in 1992 at $102k to my purchase in 2002 the price of
the home raised by only $18,150, or 1.6% per year over ten years.
I can't imagine that I would get that much on the open market today
(if it were possible to sell at all -- some neighbors have been on
the market for over 12 months now), but comparable properties that
_have_ sold went for no less than $200k in the last 12 months, so
it's hard for me to pull an example from recent local real estate
transactions that proves the new valuation is poorly founded.
Is it reasonable to protest the increase on the basis that my house
is not a better investment vehicle than my 401(k) in the dot com
boom? This is housing bubble logic, pure and simple.
--
Rob Carlson [EMAIL PROTECTED] http://vees.net/
On Dec 31, 2007, at 9:27 PM, JASON GOUCHER wrote:
Hi, Fellow Charles Village Homeowners!
Anyone else feeling pummeled after receiving their recent
Assessment Notices?
We received ours today and our new market value is MORE THAN
DOUBLED from the previous assessment notice three years ago. Most
alarming to me is the land valuation MORE THAN TRIPLING from the
previous assessment.
I don't know about anyone else's perception, but living on North
Calvert Street has not gotten any quieter, cleaner, or less
traveled over the past three years. In fact, we are still reeling
and dealing with the aftermath of the recent sewer installation
that had us enjoying a very large and deep pit on the side of our
home for the first quarter of 07.
Jason and I are obviously appealing this assessment, but were just
wondering what others were thinking or planning to do in response
to their most recent valuations/assessments?
Despite this most recent affront from the City and State...really,
Happy New Year to everyone! Cheers to the Village!
Cathy Goucher
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