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Archive for March, 2013

Appealing Your 2013 Property Tax Reappraisal Value

March 28th, 2013 Comments off

While 2013 property tax reappraisal values are down significantly across Shelby County many homeowners are verifying that their value is in-line with the fair market value of their home in anticipation of a tax rate increase.

With our 2013 Tax Appeal Kit homeowners are armed with comprehensive reports in easy-to-ready formats to easily determine if their home’s reappraisal value is too high.

For just $49 homeowners receive the following reports:

  • Comparable Sales: A mapped report showing recent sales activity that closely matches the subject property.
  • Neighborhood Profile Report: Overview of all sales and foreclosure activity with trends for the past 4 years.
  • Foreclosure Effect Report: Shows the potential effect of area foreclosures on appraisal values.
  • Instructions for Appealing: Step-by-step instructions for using the reports and for filing an appeal.
  • Tips & Tricks for a Successful Appeal

Visit www.shelbytaxappeal.com or call (901) 458-6419 to learn more. The deadline to appeal is July 31, 2013.

February Home Sales Update

March 11th, 2013 Comments off

Shelby County home sales slipped a bit in February but average sales prices were up considerably.

A major decline in bank sales activity decreased overall sales totals but bumped up average sales prices. Non-bank sales prices were also up contributing to the increase in sales price. 

920 home sales were recorded for the month, down 7% from 994 recorded in February 2012. 

Average home sales prices were up 18% from last year and were up 1% from January 2013 to $115,764.

Year-to-date home sales are up 18% and average sales prices are up 11% from the same time last year.

20 out of 33 zip codes in the county had an increase in average sales prices.

Bank sales were down 32% from last February with 211 recorded accounting for 23% of total home sales. 

The average price for non-bank sales were up 13% to $129,772 compared to $114,495 last February.

60% of all home sales were valued under $100,000.

Home sales over $300,000 were up 16% with 58 filed for the month compared to 49 last February. 

Click here to review our February Market Trends reports.