the Certified Assessed Value was $84,292 january 2008.

I received the title company's assessment and I do know that the owner(seller) has a lien on the house, owing the IRS 25k, which I believe the bank did not know about and is now dealing with.

There are no right or wrong ways of doing things, each providing a result that can be assessed and worked on from the learning that the outcome provides.

Chris,Tax assessment values are completely meaningless if you are attempting to determine FMV.

You need to know about flood plains, platting, topography mapping, road design, drainage design, water distribution systems and design, coordinate with utility companies, construction staking and final lot staking.You need to have an environemntal site assessment from a geotechnical firm, find out about any and all impact fees and permit fees, and possibly off site drainage improvements, off-site sanitary sewer extension, & on & off site water pressure measurements from the fire department to the hydrants.

Jeremy TurnerNo the market was inflated due to false stimulus, Not bad appraisalsA large contributing factor to the inflation of RE values was due to appraisers assessing values at whatever price would work for the loan.

Here is a picture of the house:According to the public records the assessed property value is $68,000.

Now we have to let all this false growth work its way out of the system.I don't agree with the assessment of the referenced article its a good thing.

We had several foreclosures within the HOA and the owners hadn’t paid their assessments or fines and had amassed a significant balance.

About 2.7 years into the 30-year mortgage.Local mortgage broker has quoted me a refi of 30-yr fixed, 4.88% with a P+I of $613.88, will have enough equity for no PMI.I believe I can rent the unit for $825/month starting in June.As to the appreciation issue, our tax re-assessments just came out countywide, with the average county reassessment being 22% increase in value since 2005.