The Difference between Market Value, Appraised Value and Taxed Value

Very useful information

North Texas Lake-Front Homes

Home Value.  The thought and understanding behind what makes up a home’s value confuses many-especially with so many different terms that seem to relatively have the same (but different!) meaning.  Some months back, I had a client’s home listed (and under contract) as well as this client’s “next” home under contract.  I get a frantic call at a certain point in the transaction because she got her “appraisal” back and it wasn’t nearly high enough to net the amount that was needed to put down on her next home.  She sounded hopeless, thinking this entire domino affect was ruined.  At this point, I was concerned until she mentioned she received the report in the mail.  At this point, I knew it was the tax-appraisal she had received and NOT the home-appraisal.  I smile, then begin explaining the differences between the two appraisals.  Sometimes even very…

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