Quote:
Originally Posted by stevieray
Sure, people are overpaying for homes, have been for sometime.
The price is decided by the county when they tell you how much it's worth.
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Nobody is overpaying. Again, the price is determined by what someone is willing to pay. The price is also not decided by the county as most assessments are intentionally below market value by 5-10% on purpose. The county assessment of our home is roughly 70k below what the market says I could sell it for which is about 8% below market value. Our assessment went up 14% this year as real estate prices have continued to increase.