The Real Truth of Sydney property valuations

who are here with a different agenda yeah yeah yes both a little bit disappointing little Sydney property valuations upset but I’ll find the right one well alternate voters blow .

Sydney property valuations
Sydney property valuations
  • All my savings get travel but no okay fat why don’t think you are going to do that no what do you do.
  • now looking everybody Josh Searson world alternative media here and of course .
  • we’re joined by author and economic analyst here a wham John’s niacin and we know.
  • we have many Aussie followers and subscribers here at .

Wham and it’s interesting to go into some of the things that affect Australia Because obviously there’s a world of trouble going on within the

governmental and banking side of things and of course with the manipulation of the markets in Australia and not unlike any other place

really but the fact is it’s on a huge scale and recent article shows that Australia home prices rise most in seven years amid bubble concerns and of course .

  • we’ve talked extensively about many real estate markets across the world
  • how these bubbles are ready to burst at anytime you can’t put a time on it because fundamentals are off the table due to the level of manipulation but
  • we know it’s going to happen so John go into this story yeah well it’s the

same source we’ve been telling about Canada About Norway about the United States and other play United Kingdom yeah yeah it’s exactly the same story like you don’t really need to repeat too much air oh .

we got a state is just a crazy numbers Iwas coming out of course this is pushguys by the central bank’s they are the ones that create these bubbles because .

They want to make people feel enriched by the increase in value in their house yeah that’s the only thing that they’re doing because the money is the inflation is massive right now yeah .

Determining Property Valuation the best way – Part 2

Property Valuation Sydney , property valuers

Read Determining Property Valuation the best way – Part 1

This is where this is where it gets a little squirrely okay some states are non disclosure states like sydney where by Property valuation service providers are not required to disclose the sales price on the deed that gets recorded in other areas.

It is disclosure so they will show it is the disclosure state so they always have a line on the deed where you’re supposed to put in the sales price okay but there’s more of that.

And I’ll come back in a second there is other states that are called a strict non-disclosure states like Brisbane where there is no way it’s required that there is no sales price on the deed there you go.

Property valution

Now the property valuers their job is to figure out the the relative value of each property in their County so they can tax it and they can tax it as a percentage of the value as long as what type it is as well say if it’s a duplex which could be considered commercial versus a single-family home that sort of thing.

So certain states reveal sales prices at the recorders office level and some don’t and that can be a huge huge hornet’s nest and we’ll get more into that in just a second okay so that’s the recorders office the second is the property valuers’s office.

So property valuers are literally putting a tax appraisal on every property every single one so some look at that and say oh the tax appraisal that must be a good source of value and no let me tell you what happens to tax our prey.

The first thing is most homeowners are not willing to share every bit of news with property valuers in other words if they add square feet in the form of an extra bedroom and bathroom they may conveniently not tell the property valuers why so they can keep their tax assessment lower.

Property valution

So they can pay less taxes also in certain states there are homesteads or other kinds of policies which as you own the property you can elect that the tax appraisal can only go by up by a certain amount each year as a maximum and what happens is over the course of many years that tax appraisal can lag way behind the real value that makes sense.

So tax appraisals can be way off and then also the property valuers is supposed to put the number of bedrooms bathrooms square footage and that sort of information as part of their assessment but they get that wrong all the time.

Because they rarely get access inside a property and like I said before most property owners try to push down how many bedrooms and bathrooms they have because it’ll reduce their overall tax appraisal.

Real estate valuation, Property valution

So County Recorder’s offices then both the recorders to the Register of Deeds and then the property valuers these two you know comprise county records and county records can be way off that makes sense okay.

So if they’re way off where do I get you know where do you get the rest the information from good question the Property Valuation Sydney. The Property Valuation Sydney is the Valuation Service it’s controlled by the the realtors.

And more specifically each Property Valuation Sydney is independently owned and they’re literally there can be more than one in the same geographic area I live in Volusia County there are three Property Valuation Sydney systems.

So the Property Valuation Sydney I’m going to just say collectively the Property Valuation Sydney here but each one is actually localized and independently owned.

And it is the informations put in there by real estate agents and the great thing about the Property Valuation Sydney is that real estate agents have this natural checks.

Real Estate Valuation, Property valution

And balances system so that insures that the listing information of each property is accurate here’s how it works let’s say you’re a property valuers you list the property if you put in the wrong bedroom bought wrong bathroom wrong square footage wrong anything someone’s going to find out about it.

When they go show the property and they’re looking at the listing sheet and they say hey there’s not three bedrooms in this house there’s only two and they’re going to get upset with that property valuers.

And then that property valuers either is going to make the changes or get a fine from the Property Valuation Sydney so what happens is you have this natural checks and balances this accountability system with the Property Valuation Sydney so the data is just flat good it’s real good.

Now the Property Valuation Sydney has other features that are wonderful it will tell you not only the exact sales price that occurred but also if there are seller concessions maybe if the seller paid for closing cost and that sort of thing because that really does play a role in the overall sales price.

Determining Property Valuation the best way – Part 1

Property valution

Are you paying a higher price for the property? How to find out the Right Price of the Property? Premium paid at the time of purchase will eat into your future returns from the property investment. This blog will discuss how to find out the fair valuation of the property.

valuation

It is a very misunderstood topic a lot of real estate investors get this wrong which is the audience I’m talking to but if you’re a homeowner and you just want to know what your property’s worth watch this blog you’re gonna learn a whole lot about that.

And I’m going to share with you where the confusion comes from and then how to get clarity alright now there is three main parts to this we’re going to talk about first is how you value property how’s that work.

So number one how is real estate valuation and here’s the great thing this is really simple because you already do it picture buying an iPhone on eBay before you would buy that wouldn’t you try to look.

And see what other iPhones were selling for identical the one you want to buy right if you go to a grocery store and you want to buy bread and you can try to compare which one is the best deal you are looking at different breads right to try to compare.

So that process of looking at comparable sales is how you compare most items you buy to figure out if it’s a good deal or if it’s overpriced Real Estate’s the same way you look at comparable properties and you look at what they sold for in comparison to the property that you want to know the value of and that’s how you figure out what the value is it’s really that simple.

So if it’s so easy how come everybody get it wrong right not everybody but a lot of people well there are there are two main reasons when that happens the first is where they’re getting their information from okay information source.

Real Estate Valuation

So I’ll put on this Boris it’s easy to fit where is the information coming from all right there’s two places where it actually comes from and the first one is county records and county records is what can cause a lot of confusion let me talk about that County records okay.

So in every county in Australia what you have is you have different departments and two of the departments that we deal with for planning records is going to be the tax assessor’s office as well as the recorders office or the Register of Deeds.

So we’ll start with the Register of Deeds the Register of Deeds is the group that records deeds and other such documents and so that can tell you some interesting information such as what the property was what liens are on the property who the owner is how long they’ve been the owner when that deed was recorded so when they became the owner those sorts of things in some areas the county records and specifically the recorders office has sales information but not all of them now.

Content Source : Youtube