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My husband and I looked at a house in which none of the 20 houses in this cul-de-sac have sold since the original owners bought them in 1995. How do you know what the houses are worth if none in the area are like it-spot built cul-de-sac. There are 2 for sale-one for 2 million that has been sitting for over a year (they will never get it) and the one we are interested in for 1.5 (not worth that am't of $ to us b/c very contemporary and dated looking). Also, the owner of the house we interested in buyingbut would need to redo(contemp.) is in contract to buy a neighbors house on the block (closing in Nov.), twice the size and much more updated and our taste, but don't know how much. Any advice?
How does the tax digest help? I have the amount everyone pays on the block as well as what everyone paid for the house. DOes the tax digest give me more info than that? Thanks-Amy
It should. For example, ours gives the taxed assessed value of the LAND and the taxed assessed value of the dwelling plus any outside structures not attached to the main house. You should be able to get the information at the County court house if it's not on the Internet. At least they will tell you about the property you are interested in
The value of the house will probably be about the same all over the area, but the appraised value of the LAND, will vary a great deal.
For example: A riverfront lot in an exclusive gated neighborhood is appraised at a great deal more than the same amount of land in a poorly drained area with no sewage or water service. The riverfront property will get a higher rate than the adjacent property that does not have access to the water.
But the houses on both lots will appraise for about the same. That's based on type of constuction, number of baths, etc.etc.
When you start talking about a million dollar+ asset of any kind, the cost of an appraisal is well worth it. If you are not using the comps of a realtor, then spring for a formal appraisal to help you negotiate.
We have all the comps information but nothing that compares to this cul-de-sac. All the other houses in the town of this size are new-these are 11 years old. Newer houses are not being built in that "contemporary" style using mica-the ones by here are all granite and wood. Thanks
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