Little Known Valuation Tool for Listing a Home

It is apparent that homes are selling faster in California than they were a year ago, and even faster than they were two years ago.  As a result of low inventory, the California Association of Realtors has concluded, "homes are moving off the market faster in January, with the median number of days it takes to sell a single-family home decreasing to 36.6 days in January, down from 38.1 days in December and down from 59.6 days for the same period a year ago."

Nevertheless, even in a seller's housing market, it is imperative to have a house priced to sell. One little-known research tool that can be useful for sellers  to find information to price their home to the best of their knowledge is the Los Angeles County Office of the Assessor Property Assessment Information System (maps.assessor.lacounty.gov). There you can find up-to-date information on recent sale information, roll values, property boundary description, building description, and when applicable, recent parcel change activity.

Furthermore, the Assessor's user-friendly website provides the assessed land value and improvement value of the home, which can be helpful to ascertain a more accurate valuation of the property. However, be aware that properties that have not been on the market for a significant amount of time will have a lower assessment value. Use information from the PropertyAssessment information system in conjunction with other tools at your disposal to determine property value.

Whether we are in a seller's market or a buyer's market, the houses that are priced to sell at a fair market value will always be the houses that make it to escrow the quickest.