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jeffk · 08-24-2009, 11:24 AM

I thought that assessments were supposed to approximate real selling prices. With the economy reeling, especially real estate, aren't housing sale prices down quite a bit? They are in most of the country. Is the lakes region immune? If that is indeed the case I have no problem with the assessments. If the house can really sell for around a million and it is appraised fro around a million, fine.

However, it seems fly in the face of reality that we see in the news everyday. Most prices are down 20%+. Are they just making it up as they go along?

08-24-2009, 11:24 AM	#30
jeffk Senior Member Join Date: Feb 2004 Location: Center Harbor Posts: 1,250 Thanks: 216 Thanked 488 Times in 280 Posts	What is the reality I thought that assessments were supposed to approximate real selling prices. With the economy reeling, especially real estate, aren't housing sale prices down quite a bit? They are in most of the country. Is the lakes region immune? If that is indeed the case I have no problem with the assessments. If the house can really sell for around a million and it is appraised fro around a million, fine. However, it seems fly in the face of reality that we see in the news everyday. Most prices are down 20%+. Are they just making it up as they go along?