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Old 09-26-2019, 09:25 PM
 
Location: Raleigh NC
10,109 posts, read 7,582,618 times
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until this simple, already answered question, gets to 12 pages - you people aren't giving it the full CD treatment. We need more stories about what you paid per square foot 20 years ago!!
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Old 09-27-2019, 04:17 AM
 
Location: Moku Nui, Hawaii
9,899 posts, read 19,179,714 times
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So far the OP hasn't come back, so maybe it won't make it to twelve pages.


As far as calculating square feet, I'd suppose the only valid answer is 'it depends'. The OP didn't really mention the square feet of what. Land only? Cost to build? Per roofing square? For all the improvements on a parcel of land? For house only and not including the garage? Who knows exactly what the OP wants to know and the OP doesn't seem to be coming back to enlighten us.
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Old 09-27-2019, 05:15 AM
 
326 posts, read 73,687 times
Reputation: 669
Quote:
Originally Posted by BoBromhal View Post
until this simple, already answered question, gets to 12 pages - you people aren't giving it the full CD treatment. We need more stories about what you paid per square foot 20 years ago!!
$623/ft for a 950 sq ft 2/2 on a cul de sac lot in SD. (Technically 22 years ago).

It was only $70 when I measured by the cubic foot, so it was a good deal.
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Old 09-27-2019, 03:20 PM
 
Location: Living on the Coast in Oxnard CA
15,994 posts, read 27,169,509 times
Reputation: 20927
Quote:
Originally Posted by BoBromhal View Post
until this simple, already answered question, gets to 12 pages - you people aren't giving it the full CD treatment. We need more stories about what you paid per square foot 20 years ago!!
We have only been in our home for just under 9 years. Back in 2010 we paid $185 a square foot. Today it is up to $326 a square foot I am told.

Disclaimer: That is for the livable space, and not the 2 car garage.

On a side note, our house was completed in May of 1963 for a cost of $9.58 a square foot.
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Old 09-30-2019, 10:33 PM
 
Location: El paso,tx
2,426 posts, read 918,308 times
Reputation: 3926
We use price per sf for homes in dame neighborhood +/- 300 sf, with similar features. You usually will take the range, and consider that when pricing a home. Ie...one not updated will be at lower price per sf, if in same neighborhood, similar lots, and the ones bringing the max price per sf will be updated and not really need anything. Then add/subtract for views, 2 vs 3 car garage, 3 vs 4 bd, neutral colors vs ugly colors, finishes, etc.
Its just a guide. But each neighborhood has different averages. It varies greatly within the same city. There is no nationwide price per sf standard.
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Old Yesterday, 11:05 AM
 
Location: Grosse Ile Michigan
26,921 posts, read 63,972,185 times
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This is exactly what appraiser do. The select recent nearby sales they think are comparable to the house in question. They make adjustments for special attributes that are present or missing from comps. Then they develop an average price per square foot from the comps and multiply that by the square footage of the house in question. They then check the resulting number by deriving a cost to build price per square foot and see whether there is a discrepancy.

their methodology is set out right in the report.

It is supposedly objective, but it is not. If there a lot of similar homes that have sold recently in the immediate area and all things are more or less equal, it is a rational method. however the more adjustments they have to make for unique features, school districts, city lines, etc, the more it becomes guesswork.
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Old Yesterday, 12:09 PM
 
569 posts, read 216,868 times
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Setting a list price is an art and the square foot price is a result of many factors, not set in stone until it's sold.

In Florida they quote the price per square foot "under air" which does not include lanai's (covered screened patio), garage or outbuildings. Also doesn't include pools which can be a significant amenity in the property's price.
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Old Today, 04:29 PM
 
6,129 posts, read 1,578,493 times
Reputation: 4847
Quote:
Originally Posted by Coldjensens View Post
This is exactly what appraiser do. The select recent nearby sales they think are comparable to the house in question. They make adjustments for special attributes that are present or missing from comps. Then they develop an average price per square foot from the comps and multiply that by the square footage of the house in question. They then check the resulting number by deriving a cost to build price per square foot and see whether there is a discrepancy.

their methodology is set out right in the report.

It is supposedly objective, but it is not. If there a lot of similar homes that have sold recently in the immediate area and all things are more or less equal, it is a rational method. however the more adjustments they have to make for unique features, school districts, city lines, etc, the more it becomes guesswork.
Mmmm...not exactly.

They subtract or add features from comps depending on if they have them. This is generally not done on a per sf basis other than for size. Then they come up with an adjusted value for each comp and analyze those results. Pick the best comp and weight that one the most, then the second most, etc.

Cost approach is cost new/$sf * size and add in unique features such as fireplaces, patios, etc. Estimate depreciation based on age and depreciation charts and subtract. Depending on age, they do this or don't do it.
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Old Today, 05:01 PM
 
Location: planet earth
5,414 posts, read 2,106,325 times
Reputation: 12091
Looking at $1,000 per sq. ft. in Manhattan right now.

Note: Price per square foot is a dumb analysis.
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