Posted by Ed Copp (OH) on May 03, 2000 at 08:15:31:
Scot, It sounds like you are trying to reinvent the wheel here.
If you want to know what the builder sold his brand spanking new houses for you can look that information up at the county court house yourself.
Listings are not comps. So the listings that you mention are not a good reference.
A fee appraisal is usually a pretty good comp. Another appraisers opinion (no fee) could be viewed as conversation.
Sounds to me like new price 150K-160K is about the top end of the market you mentioned. That would be after the 7K you mention for fix-up. Also be sure to include about 10K for a real estate commission. If you are sharp enough to earn that commission you need to be suer it is there to get (if you earn it you should get it) if you get stuck and can’t get the job done then someone else will get the commission, it’s always a factor.
You ask should you buy for 100K, probably…ED