Determining the San Diego Estate Property Value

Kim Ward, a real estate broker and author, explains how the value of San Diego estate property is determined. The primary factors influencing property value include the condition of the home, its location and neighborhood, and recent comparable sales within a half-mile radius. Kim advises against relying on assessed values from property tax bills, as they do not reflect the true market value. Instead, a private appraisal by a licensed real estate appraiser or a market analysis by a real estate broker can provide accurate valuation. However, if a formal probate proceeding is required, a probate referee will handle the appraisal, making a private appraisal unnecessary.

Kim also highlights that the property sale price during probate must be at least 90% of the appraised value determined by the probate referee. The appraisal is typically based on the date of death, and if more than a year has passed, a reappraisal may be required by the probate court to ensure fair market value. Kim and her team, who have helped over 500 estate representatives, offer guidance in preparing, marketing, and selling probate properties, and she encourages anyone with questions to reach out.