Posted by Houserookie on June 18, 2002 at 01:30:32:
If your realtor is so sure about the sale price, give him/her 30 days to sell it. If they reject then it’s just wishful value…aka…asking price.
Property Value: What to believe? - Posted by Eric
Posted by Eric on June 17, 2002 at 07:45:19:
What is the best method of finding property value w/o getting an appraisal? I did a comparative on a house and it came in around 122k. The owner of the house showed me that she is getting taxed at a value of around 94k. Is this more reliable than the 122k. Her loan balance is around 64k, and she doesn’t want to go through a realtor. So there is plenty of room to work here, but I need to know the actual value of the house. Also, have thought about having a cma done by a realtor friend, but the house is pretty unique in the neighborhood. It is a ranch style, where most of the other houses are not. So, don’t know how much it will help.
Re: Property Value: What to believe? - Posted by Houserookie
Posted by Houserookie on June 17, 2002 at 10:50:50:
Hi Eric,
The actual value of this house will not be known until there an actual buyer paid an actual price.
How did you come up with the comparative value?
“Also, have thought about having a cma done by a realtor friend, but the house is pretty unique in the neighborhood. It is a ranch style, where most of the other houses are not. So, don’t know how much it will help.”
What you have described is perfect example why I don’t base price on comparable homes in the area. You obviously love this house so much that you might be willing to pay more than similar ones. As you put it, it’s unique.
Austin
http://www.creonline.com/art-132.html (nt) - Posted by Jim Kennedy - Houston, TX
Posted by Jim Kennedy - Houston, TX on June 17, 2002 at 07:58:20:
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Re: Property Value: What to believe? - Posted by Sean
Posted by Sean on June 17, 2002 at 18:21:04:
Remarkably well said!! The only true way to know the value of a home is to sell it to the highest bidder.
Replacement value, comparative sales, capitation rates and the like all have their value and drawbacks, but they’re all ways of bringing you to making an evaluation of a house that is merely a guess. Hopefully a well-educated, reasonably close guess, but still just a guess.