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Hello Everyone:
In the past couple of weeks, I’ve had 3 different people make reference to “City Assessment Value” of homes. These folks were placing a lot of weight on the C.A. of houses, and were questioning whether the “Listing Price” of a certain house was realistic, or whether it was too high.
Now, anyone who has ever read any of my blog, or spoken to me directly, knows that in my opinion, “Listing Prices” in Winnipeg are most often set unrealistically LOW…. so having people suggest that the listing price was too high was something new….:-)
I explained that City Assessment has, in actuality, very little to do with real Market Value. There are several reasons for this, including:
1) City Assessment does not know about recent improvements to the home, such as New Furnace, New Windows, Fully Finished Basements, etc
2) City Assessment does not take into consideration any additions to the home, such as sunrooms, family rooms, swimming pools
3) City Assessment is unable to keep up with fast changing market increases in Winnipeg.
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So then I looked at some recent sales, going back 6 months, in a variety of neighbourhoods thruout Winnipeg, and compared SOLD prices with LISTING prices an City Assessment values. I hope you’ll find these as interesting as I did:
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Neighbourhood Style List $ Sold $ City Assessment
River Heights Bng 219,900 219,900 196,000
River Heights 2-St. 279,900 295,200 251,000
Charleswood Bng 249,900 249,900 226,000
Charleswood 2-St 289,900 282,000 231,000
LindenWoods 2-St 289,900 297,000 276,000
River Park South Bng 199,900 232,500 179,000
River Park South Bng 249,900 285,700 237,000
River Park South 2-St 299,900 280,200 223,000
Island Lakes Bng 239,000 245,000 196,000
St.James/Assin. 2-St 279,900 279,000 242,000
St.James/Assin. Bng 249,000 280,500 211,000
W/Kildonan Bng 209,900 217,000 188,000
Garden Grove Bng 239,900 239,000 204,000
Some astute folks will no doubt point out that some homes actually sold for less-than-asking, but that’s the subject for a different blog post altogether.
If you’re thinking of selling your house or condo, and would like to know what the Market Value is for your property, please contact me anytime…..I love to help.
Bo 333-2202
You can find my website at WinnipegHomeFinder
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Bo Kauffmann of Remax Performance Realty is the recipient of the 2009 Silver Medallion Award from Winnipeg REALTORS®, the Platinum Club Award from Remax, and is one of Winnipeg's top-producing Real Estate Agents. Check out his website at WinnipegHomeFinder, follow him on Twitter or email him at boknowshomes@gmail.comFree Market Evaluation and Blog-Post subscription
Thinking of Selling your home? Lots of agents offer the so-called "Free Internet Evaluation", which is worth about as much as people pay for it: Nothing. In order to set a realistic 'Asking Price', a qualified REALTOR® (or Appraiser) will have to come to your home for an actual inspection. So if you're thinking of selling your house or condo.... simply fill out this form and I will contact you.If you enjoyed this post, please consider 'bookmarking' it or sending it to one of the services above. Thank you very much!
Top-Producing REALTOR® with Re/Max Performance Realty. I work with Buyers and Sellers of homes and condos, with special knowledge in the field of Condominiums.
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