I received this email from Loudoun county Appraiser Technician Alison Burns. It was nice to see that they are actually doing some extra research to verify land values. This was one of my land listings that sold not too long ago. It was a 3.6 acre lot that sold for $130,000.00. I told her it was a market value sale, even though we could have waited and might have gotten $135-140,000.00 for it? But in the current market, $130,000.00 market value for a 3-4 acre ready to build lot is accurate where this lot was located.
So are the county appraisers going to start relying on agents to provide information to help them set the 2013 property values? It looks that way. I'm just wondering if all agents will provide them with honest accurate information?
I try to price lots at what they should sell for. Each lot is different, and many factors can affect the value. If this lot was 3 miles West in the Short Hills, and in the Mountain Overlay district, the market value would be much less.
To: Jeff Pearl
"I am in the process of verifying the subject sale with respect to 2013 assessed values. It would be very helpful if you could take a moment to answer the following questions:
In your opinion, was it a market-value sale?
In addition to exposure to the market through MRIS, did it meet the following criteria for an arm’s length transaction?
· Unrelated parties
· Equally informed parties
· No undue pressure
Was any personal property included in the sale price?
Thank you so much for your assistance in ensuring that Loudoun County real property assessments are fair and equitable.
Office of the County Assessor, 5th FL
Loudoun County, VA
703-777-0267 -front desk
Contact Jeff Pearl to buy and sell land in Northern VA. If selling, I will help you determine accurate current market value for your property. If buying, I will do all research and suggest an accurate amount to offer for the land.
Jeff Pearl / REALTOR / Lic in VA
Re/max Distinctive - Reston VA
Homes / Land / Farms
Equal Housing Opportunity Provider