Comments on: Montgomery County – Prepare For Higher Property Values http://www.nrvliving.com/2009/08/04/montgomery-county-prepare-for-higher-property-values/ Real Estate in Blacksburg, Christiansburg, and Radford - I'm sometimes on topic, occasionally irreverent, always Real. Sat, 06 Mar 2010 00:11:22 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Jeremyhttp://www.nrvliving.com/2009/08/04/montgomery-county-prepare-for-higher-property-values/comment-page-1/#comment-800 Jeremy Wed, 05 Aug 2009 22:25:53 +0000 http://www.nrvliving.com/?p=1465#comment-800 So there's a cynic in there after all, huh? :) So there’s a cynic in there after all, huh? :)

]]> By: Billhttp://www.nrvliving.com/2009/08/04/montgomery-county-prepare-for-higher-property-values/comment-page-1/#comment-799 Bill Wed, 05 Aug 2009 19:56:50 +0000 http://www.nrvliving.com/?p=1465#comment-799 I think you're right. Somehow they will find a way to explain how our property rate has increased, or something. Regardless, even if they come back and say your value hasn't changed, that will just give the county or the city you live in the justification to raise the tax rate. They are going to get you one way or the other, so you might as well be ready for it. I am not bitter about it or anything though ;) I think you’re right. Somehow they will find a way to explain how our property rate has increased, or something. Regardless, even if they come back and say your value hasn’t changed, that will just give the county or the city you live in the justification to raise the tax rate. They are going to get you one way or the other, so you might as well be ready for it. I am not bitter about it or anything though ;)

]]> By: Jeremyhttp://www.nrvliving.com/2009/08/04/montgomery-county-prepare-for-higher-property-values/comment-page-1/#comment-798 Jeremy Tue, 04 Aug 2009 19:41:59 +0000 http://www.nrvliving.com/?p=1465#comment-798 Bill, you're right when you say that we've not seen a market like this. Certainly not in my memory, and you're right - your area would not likely get what you paid two years ago. I guess the cynic in me doesn't expect anything but increases - with the argument that the last assessments "weren't at market value". For as long as I can recall there's been a difference in the NRV between market value and tax value, with market value almost always outpacing tax value, and while that gap may be closing I don't expect it to be equal.Ran a quick search of properties that have sold in Blacksburg and Christiansburg YTD 09 and YTD 08. Median sales price in 2009 has been $185000, with median sales price in 2008 of $189000, so we're seeing an overall median dip of just over 2%. That's very good, considering, it'll be interesting to see what happens when the assessments come out.What's your prediction, Bill? Bill, you’re right when you say that we’ve not seen a market like this. Certainly not in my memory, and you’re right – your area would not likely get what you paid two years ago. I guess the cynic in me doesn’t expect anything but increases – with the argument that the last assessments “weren’t at market value”. For as long as I can recall there’s been a difference in the NRV between market value and tax value, with market value almost always outpacing tax value, and while that gap may be closing I don’t expect it to be equal.

Ran a quick search of properties that have sold in Blacksburg and Christiansburg YTD 09 and YTD 08. Median sales price in 2009 has been $185000, with median sales price in 2008 of $189000, so we’re seeing an overall median dip of just over 2%. That’s very good, considering, it’ll be interesting to see what happens when the assessments come out.

What’s your prediction, Bill?

]]> By: Billhttp://www.nrvliving.com/2009/08/04/montgomery-county-prepare-for-higher-property-values/comment-page-1/#comment-797 Bill Tue, 04 Aug 2009 18:38:08 +0000 http://www.nrvliving.com/?p=1465#comment-797 I know that you have never seen assessments go down before, but I also don't think we've ever had a market like this before. I cannot imagine that the assessment could justify a increase of price in property value. I just don't know where they would find the data to prove that argument. I know my purchase price in '07 is not what I could fetch today. I know that you have never seen assessments go down before, but I also don’t think we’ve ever had a market like this before. I cannot imagine that the assessment could justify a increase of price in property value. I just don’t know where they would find the data to prove that argument. I know my purchase price in ‘07 is not what I could fetch today.

]]> By: Prepare For Higher Property Values « A Tale of Two Burgshttp://www.nrvliving.com/2009/08/04/montgomery-county-prepare-for-higher-property-values/comment-page-1/#comment-796 Prepare For Higher Property Values « A Tale of Two Burgs Tue, 04 Aug 2009 14:10:17 +0000 http://www.nrvliving.com/?p=1465#comment-796 [...] August 4, 2009 by BurgBlogger Well, I guess I have no original content this week. Sometimes people just say things better than I can. From Jeremy Hart at NRV Living, Montgomery County – Prepare For Higher Property Values. [...] [...] August 4, 2009 by BurgBlogger Well, I guess I have no original content this week. Sometimes people just say things better than I can. From Jeremy Hart at NRV Living, Montgomery County – Prepare For Higher Property Values. [...]

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