BC Assessment release 2012 property values

Assessed Values move closer to market"

By now, most of you have received your 2012 property assessments with many seeing a healthy increase (houses) mirroring a surging market during most of 2011.

After reviewing a few assessments for clients, my phone always rings this time of year, it appears that BC Assessment is playing 'catch-up' with the last few years of a vibrant market. This is most evident in areas where house prices rose sharply, particularly; Vancouver East & Westside, Richmond, Burnaby & West Van (where it appears prices are still jumping!)

While assessments for Condos/Townhomes are not so black & white, they do reflect a more balanced market, especially during the last half of the year. Generally speaking, assessments seem to be moving more in line with market value.

Wondering how your new assessment may have affected your property value?
Best keep in mind that 'Assessed Value' is not an exact science, but rather just one of the tools we Realtors use in helping to determining value.

If you're thinking of making a move in 2012, please feel free to drop me a line.
I would be glad to sit down with you to help you determine the Market Value of your property.

However, if you're planning on staying put for a while, B.C. Assessment has a great new feature called e-valueBC that lets you compare your property assessment to others while providing guidance, should you be interested in appealing your assessment (Jan 31 deadline).

* visit 'Useful Links'& see 'Assessed value of your property'

Best for 2012,

Wayne
604-790-5404

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