“Since 80% of residential property assessments are capped this year is there a quick tool to determine value?”

Landcor’s 2009 Adjusted Value Profiler

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With over 80% of residential property assessments being capped this year, a property’s assessed value can no longer be used to determine market value in 2009.

Landcor Data Corporation understands the impact this change is having on businesses. To meet the needs of our clients Landcor has taken our Property Profiler report and added a conservative market value adjustment to this year’s assessment.

The 2009 Adjusted Value Profiler delivers a statistically reliable value for BC’s residential properties. By adjusting the current year’s property assessment, using the sales activity of similar properties in their immediate jurisdiction, this new and improved product determines a monthly market indexed value for the subject property.

Our Adjusted Value Profiler can be used by Lenders in low-risk lending and refinance transactions to determine a more reliable value. This new product also includes the assessed values frequently used in legal contracts and asset transfers; transactions that would not typically require the accuracy of an appraisal or AVM.

Also included are over 30 property characteristics, neighbourhood trends and recent neighbourhood sales to help you relate the subject property’s value to the real estate transactions. To view a sample of this report, click here.
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"We received a lot of feedback from our clients when the Assessment Cap was announced, wanting to know what they should be using in 2009" says Landcor President, Rudy Nielsen. "Since there really was no viable option on the market, we decided to create a product that met their needs at their preferred price point"

He goes on to explain that "though this report does not offer the precise market valuation delivered through our Property Valuator product, those seeking an alternative to annual assessed values will benefit from the 2009 Adjusted Value Report, for a cost similar to BC Assessment Authority’s Assessment Query transaction."

About Landcor

Landcor Data Corporation is BC’s premier real estate data and analysis provider, serving lenders, legal professionals, real estate professionals and consumers since 2001. Working closely with the BC Assessment Authority to leverage government issued information to help businesses and consumers make informed real estate decisions and mitigate risk, Landcor Data Corporation relies on registered sales data from BC Land Titles and Survey Authority. This data is complete and final and does not utilize pending sales agreement information made available through Realtors.