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As my post title says...
What is a REAL good way of doing it? I have been to Zillow and such.
I know about looking at sales in the area ans such.
It still does not work, esp if you have a realtor that bt her living is prone to pushing her agenda. And I do not blame her, it comes with the job.
But I want to be able to have a more or less clear way to rationally apparaise a property we are willing to buy.
Say, county parcel viewer will give me county appraisla, but those do tend to be waaay far below sales and absolutely waaay below asking prices.
Zillow has zestimates that sound more or less right, by the gut, but still are waaaay below asking prices, for the most.
I tried some other sites, but can't even find any hard numbers. Also, sometimes, I have to deal with HOAs where prices are all over the board. Like say 75% is in 600-700 hundred range, but have several over a mill inclusions. Go figure.
Thank you.
You look at sold comps. You compare a ranch with a ranch, a colonial with a colonial... similar square footage. Deduct or add for condition.
And every market is different re tax assessment. In mine, unless it is waterfront property, properties are selling close to or below tax assessment. We have over 16 months worth of inventory which is not a good thing.
You look at sold comps. You compare a ranch with a ranch, a colonial with a colonial... similar square footage. Deduct or add for condition.
And every market is different re tax assessment. In mine, unless it is waterfront property, properties are selling close to or below tax assessment. We have over 16 months worth of inventory which is not a good thing.
Yes comps. Or you could hire an appraiser.
Good realtors know how to do this well. I would talk to at least 3 realtors and specifically ask for pricing advice based on comps.
Problem I have with one I started this thread on, it is in subdivision, where basically all houses are high 600 to 700 plus range. Then again, there are 3 over a million properties there too. Then, to make things better, as it is a large sub, it is surrounded by farmland with houses significantly cheaper.
Point is, there is huge gap between millionaires, regular houses there, and farmland. Summing up to about 200-300 thousand difference. Of course, one I am referring to is priced at 835, with zestimate of 760. And 660 on county appraisal.
As a result, it is in that "gap" I mentioned. Plus, land and house sq footage is also odd. But all houses there are "not the same". It's all custom built homes with lots from 2.5 to 5 acres.
Realtor keeps yakking about "in that area house will sell fast and at face value", which I believe is nothing more than standard realtor talk.
Problem I have with one I started this thread on, it is in subdivision, where basically all houses are high 600 to 700 plus range. Then again, there are 3 over a million properties there too. Then, to make things better, as it is a large sub, it is surrounded by farmland with houses significantly cheaper.
Point is, there is huge gap between millionaires, regular houses there, and farmland. Summing up to about 200-300 thousand difference. Of course, one I am referring to is priced at 835, with zestimate of 760. And 660 on county appraisal.
As a result, it is in that "gap" I mentioned. Plus, land and house sq footage is also odd. But all houses there are "not the same". It's all custom built homes with lots from 2.5 to 5 acres.
Realtor keeps yakking about "in that area house will sell fast and at face value", which I believe is nothing more than standard realtor talk.
How long has this property been on the market? Are there no comparable sales of similar size homes in the subdivision? Have homes been selling quickly in that neighborhood or have the other active listings in the area been on the market for a while?
The problem with online market comparisons is they may work very well for similar homes in tracts... they can be way off when it comes to custom homes or areas with not much turnover.
A home I was following came in between 700 and 800k on several online sites.
The home sold for 1.3m and was a bargain at that...
Location: Danbury CT covering all of Fairfield County
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An active full time real estate professional in your area would be the best source for real estate value information. They should have be in or know more about the homes that have sold your area than an appraiser.
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