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What was paid for this property when sold 11/10/1998?

  • Question refers to 9 Bear Creek Dr, Wentzville, MO 63385
  • May 08 2009
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Answers (4)

Profile picture for Reynardsbluff
Well, at $227,000 and only owning it 8 years I am going to to a guess that it was right around lets say $150000 based on the properties that have been listed and the prices paid for them.  There for, $77,000 profit in 8 years but your 30 year old house only gets $3,500 profit per year? 

Hum,  I know that it has alot to do with how housing has changed and many people today would dream of living in a 30 year old house, but that is why it is priced so low.

My house is 10 years old and in prime condition, if this rule applies then I should make a mint on my home but I am not.  Because of the lending issues that happen during the surge of housing sales we are now experiencing the 10 year regression.  Just trying to be realistic and not get taken on a property if  I should like to make an offer. 

I am aware of the CMA I just don't think the "rule" always applies at least I don't see it being consistant.  Thanks for your response.
  • May 08 2009
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What the seller paid for a home has nothing to do with the current value. To decide whether you want to move forward or make an offer you need to have a current CMA for the area.  If I paid $42,000 for my house in 1979, does that mean it is not worth $147,000 (fair market value for the neighborhood it is in using a CMA) today?
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How does it not matter in todays market?  As a prospective home buyer I need to carefully guard my investment too and be sure not to get taken in the process.Thanks for response that didn't answer the question.
  • May 08 2009
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Who knows and 11 years later, why does it matter?
  • May 08 2009
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