So if you ever wondered how property assessors appraise your property when you have three foreclosure’s next door going thru a steeply discounted sheriff sale? Your answer is, the assessor simply will not compute any negative sales into the mix of valuations.
This is much like the way unemployment figures are decided. Only the positive sales are computed. And, only the people on unemployment are counted, never mind the 94 million unemployed in the United States. And never mind the five negative to one positive sales for real estate valuations.
I find Clark County’s valuations are like self levitating water in a cup half full with air or (valuations) trapped at the bottom. The water line is not a true evaluation line, while observers can only see the top water, it appears glass full all the time.
This valuation process needs to change (it’s as unsound as leaving the hinges off a door during installation or leaving the Glass Steagall Act to blow in the wind.
Brian Rolshoven
Spokane
