Trying to assess property value- Cant find good comp- Max bid?

[Brandon Pearsons]

There is an auction tomorrow in my local area. I am trying to assess the property value of it.

I can't find a good comp. In the Foreclosure auction, there is a property tax value in 2009 of $1700, which puts around 140k which seems like an extremely low price for the property.

Zillow puts the property at 306k which seems high.

I looked what is on the local MLS and it varies from 170k-400k for the same square footage.
When I look at the same year built it looks like around 280k, but those house look nicer.

Below are the annual property taxes for the house from Zillow

Fewer entries
2010 $1,693 -- $163,713 -0.2%
2009 $1,693 6.6% $164,103 2.0%
2008 $1,588 -- $160,886 2.0%
2007 $1,588 1.3% $157,732 2.0%
2006 $1,567 -1.0% $154,640 2.0%

Question: Should I base by bid on these rates which equates to a current market value of 140k?

The outside of the soon to be auctioned house good. I walked around the front and back yard. It was was built in 1999. I will go in the inside tomorrow pre-auction.

So I am thinking something like this tomorrow.

(.7x140k)-5k =93k
Typically max price = (70% * ARV) - repair costs.

I just know the house will get bidded for well over that price. The last auction I went to in this town had a large turn out and was a dump and sold for 156k. It was smaller and built in 1900.

Please help.

Thanks

[Curt Davis]

In the future why dont you contact a local appraiser and kick them a few bucks to give you an idea of the real value of the home?