Current Home Value vs. Total Assessed Value- List Source

[Mike Waltman]

I've done some searching and haven't found anything on the forums so I'd figured I'd throw this out there because its an issue I'm debating on with my list source criteria.

My question isn't about what Current Home Value or Total Assessed Value are, I get the difference. What I'd like to know is what the pros and cons of using a listsource list with one criteria over the other for targeted marketing?

Is CHV just a more accurate estimate of what the home is worth? A list with CHV criteria is SIGNIFICANTLY more expensive (were talking 200-500 dollars more) than TAV. Is it worth it? 

I get a lot more leads per list with TAV (around 300-700 more). Not sure what to make of that fact in terms of quality vs quantity for targeted mailings utilizing a more expensive piece. 

It could be in my budget to pay extra for a quality list but I just need to know that its worth it, not just making it FEEL like I'm getting a better list because I shelled out a bunch more $$$$. I'm marketing for buy and hold, not wholesaling, if that makes any difference. 

[Sean OToole]

The answer won't be the same for everyone, as it depends on three things:

1. Your state

2. Your county assessor

3. How important know the value is to you.

Some states like CA, limit the increase in assessed value each year to a certain percentage. For those states assessed value really doesn't work at all if you need an estimate of current value.

At the assessor level, if they are doing their job the assessed value and the "current value" should be very close. Some assessors are prone to over-assess, others perhaps under. Regardless assessed value is updated once a year, whereas current value is updated monthly. If the assessor just updated, or its a slow moving market no worries. If it has been 11 months in a fast moving market, there could be a reasonable difference - though honestly probably within the margin of error of current value anyway.

Finally, do you need to see the value, or are you willing to do comps on the fly as leads contact you. If you don't need to see the value, then know need to include it in the export.

Personally I think now that current values (aka AVMs) are essentially free (thanks to the Zillow Zestimate), its ridiculous that they charge so much for them. Other services, like mine, include them for free, but unfortunately none that I know of in your area (yet).