Chandler Reports Blog – The Latest in Local Real Estate

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.

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.