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I want to confirm the value of a house.

Property is foreclosed, located at 218 Finley Ave, Staten Island, NY. Zestimate shows $93K while all houses on the block and same size are at $350K+. I need to find out urgently why this property is undervalued.
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October 17 2011 - New Dorp
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Answers (4)

Have seen the home's interior?.  Could be unpermitted additions, could be mold, could be roof leaks, could be lots of damage, could be foundation problems, could be flooding problems, could be many different things. Could be so much damage that you can only do cash, no loans.

Also a Realtor is going to be able to give current market info, active, pending and recent solds, along with absorption rates in your area, (supply and demand).
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October 17 2011
Usually to create multiple offers...what you need to do is have your agent do a market analysis so you can see what comparable homes in the area have been selling for.
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October 17 2011
The followed link is for research which by no mean that it estimates the subject property's value correctly, like Rudi said, you had to hire a GOOD buyer real estate agent to do the Comparative Market Analysis.
http://homesand.net/Quick ... 306?Map=1
http://homesand.net/QuickComps.aspx?218+Finley+Ave+Staten+Island+NY&citystatezip=10306?Map=1


However the status said -> 'Pending'. which meant that the house is in escrow.
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October 17 2011
You can't count on Zestimate. Find a real estate agent you feel comfortable with. They'll handle all of your concerns.

Happy funding, Rudi
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October 17 2011
 
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