We Tell it Like It Is

So, you think you want to sell your home? My advice: unless you really have to, DON'T do it. At least right now. Home values have PLUMMETED--especially in certain areas of the city and certain types of properties. For example, the worst cities right now to sell anything are: Brooklyn Park, Brooklyn Center, Columbia Heights, Coon Rapids, Robbinsdale, & Crystal.

The worst places to sell a townhome: Shakopee, Shoreview, Eden Prairie, Hugo, Blaine, Otsego, Savage, Albertville, Elk River, & Maple Grove.

If you are in any of those above cities, you will lose your shirt trying to sell your place. Think of the worst case scenario...and go another 3 notches down. So, how do you know how much (or how little) you can sell your home for? DO NOT GO ON ZILLOW.COM. That info. is skewed and inaccurate.

Tax-Assessed Values are what you will find on your county website on the Property Tax Page. A city assessor determines this value to help determine what your annual property taxes will be by visiting your home. The value is based primarily on the location and size of both your home and your lot. The downfall about this type of valuation is that the condition of the home is not really considered. So, two homes that are identical in size, style & location may have identical Tax Values--however, one may have recently received $100,000 in remodeling work and the other may still look like 1970. It would not be fair to think that both would sell for a similar price if they were listed on the market. Right now, tax values can end up being up to $50,000 more than what it should list for sale. Zillow.com bases the valuations on tax values oftentimes, which is what skews the information they provide.

How do you determine what you should list your home for? Stay tuned.