Is HCAD\'s market value accurate?

Question

My client want to buy a house, however, he does not agree with my CMA value I come up with using data from MLS, instead, he would use HCAD\'s market value for his offering price. And he is always over bid by other buyers. Is that HCAD market value accurate? If not, how should I explain to him?

Rocio Rincon · Accepted Answer

HCAD is not accurate.    The value is set for a year and based on data from the prior year and a Texas county appraisal district may not increase the appraised value of a homestead by more than 10% in a given tax year.

If you do a CMA based on current information in MLS that is what you should go by.  Your client could also request a desktop appraisal from an appraiser.

Enjoy all Benefits of HAR.com

Get the Top Real Estate App

Huiyan Huang