http://www.realestateappraisertips.info/ – Valuation 2009 New Orleans Video, Real Estate Appraisal Conference

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I have found a property that I am interested in and it just has recently been foreclosed on and auctioned back to the bank. The bank was owed 320,000 on the house but since the market dropped the house is only showing 156,000 from the property appraisers and Zillow. At the auction the bank was only willing to go up to 136,000 on the property. I am assuming that that is all they think it is worth. The house does need repair as the people who had it before was busted for growing drugs so half of the house has been totally transformed to grow plants. So I am trying to find out what I should offer the bank. Will the bank go out a view the property or gt an appraisal?

The bank will certainly appraise the house, expect to pay around 95% of the appraised value.

Ignore Zillow. Since appraises are not public information your 156k is some other number, maybe taxes, ignore that too.

Have your agent run a comp report and bid from that information.

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Baton Rouge Housing Market Overview For Wedgewood Subdivision in Zip Code 70816

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due to external obsolenscense if said property is located within a 3 mile radius of a paper mill and is encumbered by the paper mill’s notorious fart smell?

also, would an appraisal of the paper mill have negative value adjustments for functional obsolescense due to its surrounding fart smell?

Unfortunately, I don’t think that affects the property value on paper.
I knew of someone who tried this because of being close to a grain cleaning plant.
They were in constant dust! But, the evaluators did not adjust the property value.
It certainly is detrimental if you’re trying to sell your property.

Baton Rouge Housing Market Overview For Wedgewood Subdivision in Zip Code 70816

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Baton Rouge Housing Market Overview For Wedgewood Subdivision in Zip Code 70816

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Video of Home Features In Pelican Point Golf Community, Gonzales, LA

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In the neighborhood that I live in there are several people who went into forclosure and is in the process of losing there house.
When I bought my house , I bought it for 163,000 but now its only valued at 147,000. The appraiser stated its due to the fact of so many forclosures are in the neighborhood.

When property values drop across the board the tax rate INCREASES to compensate since the City or County budget generally stays the same or even increases. It’s not unusual at all to see property taxes remain relatively static or even increase even though property values have dropped.

My local MLS states my square footage at 1187 but the county records state 1115. Do the blue prints overrule everything here? If I get the townhome measured by an appraiser there is the human error element.

The county records are the legal records, the MLS is input by a person and subject to typographic errors.

The blue prints are NEVER used, as they are not always representative of the end product. The house has to be measured by an appraiser. It should have happened when it was built, before they received their final, that is where the 1115 came from.