What is a common amount for your House to go up in Appraisal each year?

[JanetRose]

Our area is building up and this past year, our value has gone up 18% - is this common? Can it actually go down?

 

[golfgal]

In a hot market it isn't unusual but it is a lot for a normal market. They figure houses go up in value about 10% a year here and we have a very steady market.

Yes, houses can go down in value if the market becomes saturated with houses or there is a recession and for other reasons (if the owners don't keep them up, etc).

 

[bicker]

We haven't been assessed for three years, and our assessment went up over 85%.

 

[pansmermaidzlagoon]

we have been in our house 3 years this spring- we thought we were safe from a new one because of just buying - but the last 2 years they have tried to raise ours 19%. We fought it both times and all they would do was meet us halfway. We paid too much to begin with (our own fault) and to prove new appraisals were too high, DH did his homework...many houses EXACTLY like ours have not been hit for years - and even if they have - are still way lower than ours - there are many larger, nicer than ours for which this is true. They say you can go in and argue fair and equitable - but that is just not true, they do whatever they want. There is no way our home is worth what they say, even at the half way point - and when you look at the other houses, it is just so unfair. It is very frustrating!!! We wouldn't mind half as much if it was fair and everyone was hit equally.

 

[Alice28]

I'm not sure what a normal amount is- maybe 3-5% going up?

Ours went up over 25% last year! But right now, we're in one of those 'hot' markets. It can go down, but only if the market gets really oversaturated and the interest rates skyrocket so people aren't as interested/able to buy.

 

[Certifiable WDW Nut]

Ohhh - real sore subject in Northern Virginia right now. Ours went up about 30% this year and in the neighborhood of 15-25% each of the past several years. My appraisal this year is more than TRIPLE what it was when we built/bought in 1998. It's ugly!

 

[barkley]

our assessed value has'nt increased much in the 7 years we've lived here. our appraised value has skyrocketed! after 4 years it appraised at 100% more than we paid (new) and currently appraises at over 200% more than we paid new (the area is popular and the homes have sold for increasingly higher amounts over the years-and as the landscaping has become mature they are more popular than comparbly priced new construction).