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Answers (3)
- Scott White, "LaxLoanPro"
- Contributions:19
- Dina Morrill, "Dinamorrill2"
- Contributions:14
If you are not interested in asking a Realtor to run a comparable market analysis for you, you could probably create your own. Keep your search within two miles of your subject property. Search for the sales price of other similar home. By similar homes I am implying you want to keep your comparable properties within (plus or minus) 200 sq ft., same number of bedrooms bathrooms and ruffly the same age (plus or minus 5-10 years) of the subject property. The more comparable properties you can find the more accurate your price assessment can be.
Make sure you compare the subject properties to your findings accurately.
Add or subtract the price of the differences you find in other comparable homes. Larger lots would add value, more bedrooms would add value while an overall poor condition of the home may subtract value.
A licensed Realtor could probably have a comparable market analysis for you in a matter of minutes and in the investor arena, time is money. It may be beneficial to get more than just price info from a realtor. They can give you market statistics for the neighborhoods where your property is located and may be able to communicate more of a pulse or temperature in your market. Most Realtors will gladly chat with you for a brief time so give your realtor a call and check in!
Make sure you compare the subject properties to your findings accurately.
Add or subtract the price of the differences you find in other comparable homes. Larger lots would add value, more bedrooms would add value while an overall poor condition of the home may subtract value.
A licensed Realtor could probably have a comparable market analysis for you in a matter of minutes and in the investor arena, time is money. It may be beneficial to get more than just price info from a realtor. They can give you market statistics for the neighborhoods where your property is located and may be able to communicate more of a pulse or temperature in your market. Most Realtors will gladly chat with you for a brief time so give your realtor a call and check in!
- Bob Brandt, "BobBrandtRealtor"
- Contributions:1019
To truly determine the value of something, you have to sell it.
To get an estimate on the probable value, the best and normal method is to ask a local Realtor. The one the bought the properties with or the closest office would be the best place to start.
To get an estimate on the probable value, the best and normal method is to ask a local Realtor. The one the bought the properties with or the closest office would be the best place to start.
How can I determine the value of some properties I already own without an appraisal?
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