Greeley CO Real Estate

In this day and age, the real estate market is not strong. While there is hope that in the near future market rates will increase with a strong economy, properties are still losing their value fast. It’s an unfortunate situation, but there is a silver lining. Because of a reduction in home values, you may have less property taxes to pay on an annual basis if you receive a lower property assessment.

Is there something you can do if you feel like your property has been assessed too highly? Is it even worth the trouble to fight your property assessment? There is a possibility it can be.

First, it is useful to understand how property values are assessed. Viewing comparables and replacement or rebuilding values are two of the most common ways to do this. Houses that are similar to yours and have recently been sold are known as “comps” or comparables. Assessors value your home according to how much each of these other homes sold for. Based on how much it is assumed to cost to replace your house, a bank can appraise the value of your property based on replacement or rebuilding value.

Your first step if you consider your home was assessed at too high a value is to collect information to make a strong case for a lower property assessment. This can be done by meeting with assessor and informing him or her you believe you were assessed too high. Your next step will be to file an appeal. You should note any time restriction for filing an appeal, since the majority of locations have them. The time period varies, with 60 days being the standard, so don’t miss out on your opportunity by not confirming what the actual time limit is in your location. The process of the appeal requires you to meet in front of an appeal board and present for eight to ten minutes. It is appropriate here to bring photos with comparables and all the data supporting your case, for instance floor plans on these comps that are similar to your own and any other evidence that your property was assessed too high.

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Additional options do exist, but if you do your homework and file an appeal, that is usually the simplest way to fight your property tax assessment. During your appeal presentation, dress and act professionally, presenting the facts that support your side in a clear and unambiguous manner. If you’ve done your research, you have a good shot. In that case, fighting your assessment and consequently reducing your annual property taxes is definitely worth the time and effort.

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Nowadays, it may be difficult to accept that mistakes are made regarding property boundaries. Computers and assessment tools are accessible and can precisely distinguish even tiny variances. Your neighbor’s latest building project might still end up getting built on your property though, even with all this technology. Welcome to the world of encroachment.

A legal concept found in American property law, encroachment occurs if some portion of property from one landowner’s land hangs over into the property of another landowner. The encroaching structure can be pretty much anything. Some examples are trees, fencing, a part of an edifice or any other fixture. Whatever the reason is, the object is using up space on two pieces of property when it merely has a legal right to be on one.

Deliberate encroachments have been known to happen. You can easily see how this might be the situation if you and your neighbor do not get along. The government may also encroach, if a zoning permit gives them authorization.

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When your property has been encroached upon, there are a number of actions you can take. First, you can always attempt being diplomatic. Appeal that the encroachment be removed or suggest that the neighboring landowner pay lease for the land which they are encroaching. Usually the landowner might be oblivious to the encroachment in the first place and will be happy to comply. Another alternative is to permanently sell the land to your encroaching neighbor, if you’re agreeable. If not, it is also possible to go to court in order to appeal a removal via a court order.

Encroachment is governed by adverse possession laws in many countries. Being open and notorious is just one of the conditions that have to be met by the encroachment in order for the property’s ownership to be conveyed to the encroaching landowners if the lawful owner of the land does not do something within a certain period of time. Keep this in mind if you think that you find the encroachment intolerable but have not yet done something about it. In most cases, simply talking to the encroaching landowner will possibly resolve the problem.

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Article by Mary Barney

Multiple Listing Services (MLS) permit all subscribed real estate brokers to see all available properties for sale. During the late 1800s, real estate brokers would get together in the offices of neighborhood associations and talk about available properties for sale. Commissions were offered as incentives for assistance in finalizing specific sales. Selling real estate was a combined effort and soon the collaboration of real estate agents turned into that old saying about “one hand washing the other,” although the hand referred to a real estate transaction.

Cooperating brokers list a “unilateral offer of compensation” through MLS as a means of ensuring that a rate of commission is public knowledge and an unalterable truth. Even though such offers are considered contractual duties, a commission rate can still be subject to negotiation on the part of the listing broker and the broker representing the buyer.

For brokers participating in MLS services, there are an array of amenities. All data within the MLS system is updated regularly since it is in the best interests of all for the system to maintain the most current accurate data on all available homes for sale. Any subscribing broker can retrieve information from the MLS system about properties for sale. MLS data fields are fully detailed regarding facts about all listed properties unlike public real estate websites that feature only limited details about properties for sale.

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The Internet is allowing homebuyers more and more entry to certain portions of MLS listings, lessening some of the criticism concerning its generally restrictive nature. For those real estate agents who have been compensated proportionately to the value of the sale of a property unrestricted access to MLS is freely granted, however not to others.

There are several aspects to the argument on both sides about free and open real estate listings and their weight in guaranteeing a stable market based on supply and demand. Limitations in the ability to evaluate similar properties, past sales and monthly statistics absolutely hinder the abilities of public web sites and are a legitimate cause of objection.

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