Real Estate Search and Sale LLC

An email was sent this afternoon to the Maryland State Department of Assessment. 

I placed a formal request for the criterion for assessing a property.

I was told by the Montgomery County Property Assessment Appeal Board, a “non partial” entity that the only criterion they were aware of is that the comparables have to be of properties sold within that tax year.  There was no verification that the styles, condition, age or size was a factor.  I am not quite sure how the board can hear a case if they don’t know what the factors are for making the assessment.   This information came directly from the clerk of that particular Montgomery County board.

 I asked who made up the board and hearing members.  The clerk stated that they were individuals from different parts of the county.  Okay, this is nice that they are trying to keep things balanced, so my next question was what background did the hearing panel have to make a decision on reviewing my case.  Were they appraisers.

 No, the clerk stated that these people were not appraisers, but they were impartial individuals.   I think that I would feel better if the panel had some knowledge of property assessment, appraisals, fair market value.

 As a Montgomery County Commissioner, I am releived however to know that there are a lot of very intelligent, level headed impartial members on these boards.

 I was a bit anti governement as I felt that the government would do as it pleased.  I am pleasantly surprised to see very dedicated indiviuals volunteering their time and working for Montgomery County Governement.  It is especially tough for some government workers to have to work with demanding volunteers.  

 I am not confident that my case will have a favorable outcome.  My position on a committee will have zero influence on those who will hear my case.   The only advantage I will have is that the surroundings will be familiar and I have a vague idea of how the process works. 

On my commission,  The Commission on Common Ownership Communities there is terrific balance of individuals and professionals.  I am fortunate to be surrounded with such intelligence, expeience and dedication, as well as impartiality.  No one gets a break.  No one expects one and no one asks.    It is simply fair and honest with everyone doing their best to serve the associations and individual condominium owners.

My next email will be to the Montgomery County Office of Consumer Protection.  If nothing else, I am learning the workings of my local government inside and out. 

Intellagent Realty Services was created to provide both property sellers and property buyers superior service with integrity.

 We tell it like it is.  Some investors want to hear that their property is worth hundreds of thousands more than the current market will bare.  There are agents that will tell you that they can sell it for more than they feel that it is worth and know that it is unlikely your property will garner what was promised and hoped for.

 The benefit to the Realtor is to get market exposure.  They are doing this at the expense of the customer.

We have a reputation for meeting and exceeding client expectations.  We tell it like it is, because we want to work with clients that are educated and have realistic expectations.

We understand that it can be costly to sit on a home that will not sell at an inflated price.

Call us if you are looking for a reality check and want to sell your home today.

I just received a list of the comparables used for my property tax assessment, and to determine my property value.   Who determines which comparables to use in a property tax assessment?

 It was not the same group of people who determines the Fannie Mae guidelines for appraisals.  Some of the comparables they used were for Silver Spring properties that were sold more than six months before the assessment statement.  There were serious downward changes in the market during this period.

 The comparables did not take into consideration that my home was in terrible condition.  The roof leaked, there was water coming in from both sides of the house and there were plumbing leaks.  They must have figured that I had to make the improvements in order to make the home inhabitable, so they assessed it at the new value.

 No,  I don’t think so.  The value they gave the comparable homes used in my assessment were assessed at or below there respective purchase prices.

 The homes that they used were also larger then my house in Silver Spring, Maryland.

 I have called Montgomery County Property Assessment office on other properties as well.  I met one assessor at the Potomac, Maryland home of an elderly gentleman.  The property was in horrible disrepair.  The assessor asked me how much I thought that the home was worth and that is how he assessed the property.  I was honest.

 I anticipated the same outcome this time.  I did not expect to have to have a formal appeal hearing to demonstrate that they did not use valid comparables.

It is my hope that I can get this addressed through the proper channels without having to go to a hearing.

 If my Silver Spring home appreciated that much in just over two months, I would certainly consider selling, or holding.  Maybe I should ask Montgomery County Government what the market trend is.  As I use a different set of tools to do my analysis for my property value.