Major Data Flaw

ATTENTION ALLEGHENY COUNTY PROPERTY OWNERS!!

Below is a real MUST READ!

If you live in or own a Split Level or Split Entry/Bi-Level style dwelling within Allegheny County your property may be assessed at a higher value than the property should be. Additionally, if you’re School District, Muni or County as appealed your assessment recently the OPA (Office of Property Assessment) may have adjusted your assessment higher than it should have been.

Due to erroneous property data used in the assessment process on these style dwellings, it is quite possible you are paying more in Real Estate Taxes than you should. This erroneous data has been found so far in nearly 100% of all these style dwellings.

We here in Allegheny County have absolutely no idea how the Assessment mess will finally play out in the months or years to come. The process may be appealed, may be held up for one reason or another or the entire State may end up having to undergo a new assessment process. Either way, the property owners of these certain style dwellings could be at a disadvantage due to this flawed data and because of this, these properties very well could be valued at higher values than the properties should be.

It is our years of experience that identified this flaw and we are now bringing this information to light. It is recommended if you have this style property, give us a call to at a minimum look over the data for your property and if need be, have your property apprised to fix the data flaw.

I must interject; the data flaw that was found so far in nearly 100% of all cases has gone AGAINST the home owner. Any property owner that has this style dwelling should have an appraisal completed on their property to correct the flawed data so that at least going forward, the property will be on a level playing field with other type properties within Allegheny County.

The reason Allegheny County is in the mess it is in is to find a FAIR and EQUITABLE solution to valuating properties within the County for assessment purposes. Due to this data flaw that we discovered, there appears to be nothing fair and equitable about it.

If you have one of these style dwellings and feel that your assessment is too high, or if one of the taxing bodies have appealed your assessment and was able to raise your assessed value and thus your taxes, you owe it to yourself to give us a call.

Bostedo Appraisal Services
Telephone: (412) 831-1500
FAX: (412) 831-3717

NEW ALLEGHENY
ASSESSMENTS!!

Don't be left holding the bag! With the Court ordered re-assessment, many homeowners are going to be in SHOCK when they receive their value from the County. While Allegheny County is re-assessing the 550,000 some odd properties, the comparable sales they are using are older sales. This means, that although many of our local neighborhoods have begun to drop in value just recently, the value the County will be putting on your property may very well not reflect this drop.

As a property owner, you have the right to appeal current value according to recent Court Rulings if the value of your property has decreased from the time of assessment. Additionally, certain types of properties have inaccurate data which the taxing bodies use in their favor to raise your assessment.

DON'T LET THIS HAPPEN TO YOU!

For more information on how to be pro-active and to defend yourself, you can call us for a free consultation at
412-831-1500

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WARNING!

HVCC & YOU!

On May 1, 2009 the HVCC was initiated throughout the Country on every mortgage transaction that involves an appraisal that is sold to Fannie Mae and Freddie Mac. This involves all conventional loans which prior to the present meltdown was approximately 70% of all lending. With the banking system crippled, conventional loans seized up and nearly came to a halt. Presently, the conventional mortgage market is still trying to get back on its feet albeit very slowly and cautiously. Then there is the HVCC.

The HVCC came about due to pressure put on an appraisal management company called eAppraiseIT by a large mortgage lender Washington Mutual in the State of New York. The Attorney General of New York created the HVCC. To stay out of litigation (even though not directly involved), the appellant in the case (The State of New York) arranged to have Fannie Mae (FNMA) sign an agreement that all loans placed through FNMA & Freddie Mac would have to adhere to this new HVCC.

“We knew this was causing extreme hardship to the industry, but we didn’t expect to get thousands of horror stories from would-be homebuyers whose dreams have been dashed by this well-intended, but misguided policy. Every day thousands of people are getting the rug yanked out from under them in their quest to become homeowners because of HVCC. You only need to go to our petition website to read the stories for yourself,” said Kearns.