Friday, 6 January 2012

Kelowna Real Estate - Don’t read too much into your Property Assessment value.

Hi All,

It's that time again when we receive our BC Property Assessments through the post.

For many people, particularly those who own property in Kelowna, as a second home, you will be anxiously looking at this report as an indication of the value of your property.

Before you get too concerned, it is important to know that there are many factors that affect your property value which will not be taken into account in making the Assessment.

This is particularly true if you have done extensive renovations, for example.

While Assessments in some areas of the City are fairly accurate, there are a number of areas where properties are either well undervalued or overvalued.

My suggestion is, that if you are really wanting to get some idea of the value of your property, give either myself or your own Real Estate Agent a call, as we are much closer to the latest market information.

For more details of the recent Assessments you may like to read the report in the CHBC News Article - see the link below.

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