Applying the House Price Index growth from FHFA to the latest housing data from the American Community Survey (ACS), we calculated a median home value for 3,119 counties and county-equivalents in the United States. One group of owners facing higher property tax bills are those having homes with assessed values above $1.2-million. Enter your zip code to find out what typical solar installations cost in your neighborhood. Over the last 12 months, home values increased 2.2 percent, and during the last five years, home values increased 59.5 percent.
From a sellers perspective the site is excellent because the better a property looks online the greater chance a buyer will be picking up the phone to schedule an appointment with their real estate agent. A survey conducted by Turf magazine found that landscaping upgrades can increase property values by 10 to 12 percent.
But hold on. New research conducted for this column by Trulia, the online realty marketing and information company, suggests that these old assumptions could be giving way to changing market trends. In the cases were the Assessor’s Values were low, say 22-26%, Zillow’s values were low, and vise versa.
With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. Since homes in the area are not homogeneous, the appreciation is all due to location and the value of land.
Nationally, the Zestimate has a median error rate of 5.6%, which means half of the Zestimates in an area are closer than the error percentage and half are farther off. This short-term rate increase shouldn’t have much of an impact on 30-year fixed mortgages predicted to remain around 4.5% in 2017.