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Jacob Melnick's Advice

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  • 12 Contributions
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  • 1 Helpful

Jacob Melnick wrote:

my house in somerset bellevue wa, appraised for 218,000.00 in 1993, what would it be worth in 1995

Answer
Hopefully a local agent gives you an answer, but if not maybe you can figure it out yourself. Anything in this world is only worth what someone will pay for it. Check out through Zillow and other sites what comparable homes have sold for. I would start out by using homes that are within 1/2 mile or if you are in a rural area the same zip code and have sold within the past 6 months. If not much comes up then expand the search to include a larger radius and check the past 12 months. It has to be comparable homes. Same number of bedrooms, bathrooms, sq ft, age, etc. Take all of these figures and get an average. If your search returns pics or detailed info and you feel your house has more to offer than most then you can probably put yours towards the higher average and visa versa. Keep in mind an appraiser will use basically the same method and unless they come see your home, they are most likely going to put you dead in the middle if not a little lower to be safe. Hope that this helps. Also, Another option is to call a local realtor and ask them. If they say that they are too busy then ask them for a new guy. He/she could use the practice!
October 19 2010
(0)

How good of an investment would a condo in downtown Chicago or near north/south side be?

Answer
That question needs more information before it is answered. I am not from the area, but real estate as an investment can be good or bad depending on a number of factors. Price, condition, location, number of bedrooms & bathrooms, also your exit strategy is important. Is this going to be a buy a flip, buy/rehab & flip or to hold onto as a rental? If a rental, what is the rental market like? Check out some local advertisements. Are there a lot of rentals available in that area. If so the market may be flooded with empty places. If not, you should be able to rent it out fairly quick. What is the price you are paying vs. what have been selling recently? Are there any positive changes being made to that neighborhood such as new businesses or jobs or maybe something with the infrastructure such as a new train or school. So hopefully a realtor from your area steps in and answers this question, but before they do you may need to add more info on the property and your intentions.Most real estate is a good investment in the long run. Especially in major cities. Think about it, the population is growing at an alarming rate, yet there are no new plots of land in Chicago being added to the globe. Hope this was at least somewhat helpful. If you ever want to buy in NJ look me up. By the way, there is a bar in Chicago named after me "Jake Melnick's". ha ha ha. just found that out recently because my buddy was out there on vaca.
September 20 2010
(0)

How can I appeal my tax assessment? Which houses should I compare, etc

Answer
Get a local Realtor to help you obtain a list of comparable properties that have sold in your area. This will give you a basis for why you think your house is over assessed. Then contact your county tax office and ask them if they can send you the appeal paperwork, if you can find it online or if you need to go into their office and pick it up. There are also companies that specialize in this task and they take a percentage of the amount that they save you. Obviously it is in their best interest to save you the maximum amount possible so depending on how long you plan on staying in your home and how much free time you have to do all of the leg work involved, it may be worth calling one of these specialist.
September 16 2010
(0)

My Address Shows the House on Wrong Street

Answer
You can go in and edit the picture of your house. If you are unable to, you can try posting what city and state you are in and request that a local agent help you to make this fix. I can only help in NJ because I can not verify information outside of my area. Hope this answer helps.
September 16 2010
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how does one get zillow to correct a listing ?

Answer
You can ask any of the local agents to fix it for you or contact Zillow directly. Post what town and state you are in and chances are a local agent will help you. I am in NJ. If you are in NJ I can help. If not I can not post information for another state because I can not claim it to be accurate not knowing the area.
September 16 2010
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Zillow has the wrong picture of my home in Newburyport, MA. , 10 - 12 Walnut Street ?

Answer
You can go in and add a picture of your home. You can also add pictures of the inside if you want as well as other information about your home.
September 16 2010
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Will somebody contact to me if I ask questions?Thamks,

Answer
If you are looking for someone to contact you enter your location and phone number and chances are a local agent will help you out. If you do not feel comfortable posting your phone number then post what town & State you have a question about and you can talk with agents via email.
September 16 2010
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Stafford, NJ. I had an appraisal done it came in @375 I'm being taxed @412 how do I dispute this?

Answer
You can call your county tax office and ask to be reassesed. Pull up some comparable properties that have sold in your area recently to use as a basis for your price along with your appraisal. You can either call myself (Jacob Melnick 856-834-4046) or any local agent to help you pull up recent comps.
September 16 2010
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What are contributions?

Answer
Contributions are discussions started, questions answered, advice given. I will get 1 contribution for answering this question.
August 09 2010
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inaccurate information on Zillow.com

Answer
While looking at your property you can go in and update your facts. You can also update the zestimate. if you have any questions or problems email me and I will try to help you. Also, you can call a local agent and ask them to update the property for you. Good luck!
July 12 2010
(0)