Property assessments are available

[Glacier]

Same here. And make no mistake, no listing price would go bellow the assessment value.

Half the houses sold in my neighborhood last year sold under the assessed value.

[BC Landlord]

Same here. And make no mistake, no listing price would go bellow the assessment value.

Half the houses sold in my neighborhood last year sold under the assessed value.

And where would that be? This is not what I am seeing here. Please, show me a listing bellow the assessment value, prior to this update.

[BC Landlord]

*removed*

[one wheel]

My realtor recently told me that if I were trying to sell today that the price has dropped about $50,000 from what I sold for last October.
I don't think people who have a $700,000 mortgage would be willing to agree to extending their mortgage if all the money goes into paying interest ?
IMO the News Media has purposely cherry picked real estate at ski resorts & high end properties that are currently selling above the assessed values to give the impression everything's fine ?
The Government & the Bank of Canada allowed all this & it might be too big not to fail ?

[DoDo1975]

*removed*

[Glacier]

And where would that be? This is not what I am seeing here. Please, show me a listing bellow the assessment value, prior to this update.

This one sold for less in 2022 than it did in 2021... https://www.bcassessment.ca/Property/In ... CS05LRQ==/

This sold way under the previous year's assessed value...
https://www.bcassessment.ca/Property/In ... CS05TUA==/

Actually, almost all properties sold for less than assessed. Like 70 to 80%.

some more...
https://www.bcassessment.ca/Property/In ... WU0ZBWg==/
https://www.bcassessment.ca/Property/In ... CS05KMA==/
https://www.bcassessment.ca/Property/In ... CS05TNw==/
https://www.bcassessment.ca/Property/In ... zRlZNWA==/
https://www.bcassessment.ca/Property/In ... CS05ISg==/

Some cheaper houses...
https://www.bcassessment.ca/Property/In ... CS1cxVg==/
https://www.bcassessment.ca/Property/In ... CS05LTA==/
https://www.bcassessment.ca/Property/In ... CS05WOQ==/
https://www.bcassessment.ca/Property/In ... CS043Vg==/

And this house sold for $1. That's 360,000 under assessed (although it did sell for over $400,000 a few months earlier)... https://www.bcassessment.ca/Property/In ... CS1ZYQQ==/

I could go on...

But not many in Vernon. More like 90%+ sold over assessed, and the ones that didn't were close. Here is one of the few selling under assessed, but still WAY more than it sold for in 2020... https://www.bcassessment.ca/Property/In ... CSlhZRA==/

[Tankur]

You realize, I hope, that these assessed values are from July 22. It's the same thing every year. Moaning and the groaning

Moaning and groaning about absolutely nothing.
Assessed value has little if anything to do with actual value. Assessed values are strictly to do with the properties share of municipal operation costs(taxes). A properties assessed value could double from one year to the next but if the municipality passes a zero increase budget the taxes due will not change from the previous year.

Well I mean. My brother had his house assessed at 990k and sold for 1.2 m . Last month.

[Tankur]

^ in downtown Kelowna on richter near raymer

[Tankur]

Lived in a house last year the owners put up for sale. Was assessed at 780k and they sold for 950k Id say assessment is pretty good idea of what you’re going to get .

[cv23]

Lived in a house last year the owners put up for sale. Was assessed at 780k and they sold for 950k Id say assessment is pretty good idea of what you’re going to get .

There are numerous examples of properties selling for twice the assessed valued or more so how is that " a good idea of what you're gonna get"? No financial institution relies on the assessed value for granting a loan on or against property.
Assessed value is for taxation purposes only and is not connected to actual value.
I doubt there are very many in Kelowna stupid enough to sell their home for it's assessed value.