how do I find out what house was worth 30 years ago? (sale, capital)

[FREE866]

hi there
is there any way to find out what a house was worth back in 1989?

don't have any documents for an appraisal and just trying to get an approximation for cost basis purposes

thank you

[bbronston]

There might be an easier way but one thing we can do here is to look up the deed (possibly on your county clerk of court website) and see the amount charged for doc stamps on the deed. That assumes it was a resale in 1989 and your county charges doc stamps or some other tax on the deed based on the amount of the sale.

Then just do the math to arrive at the purchase price.

[BoBromhal]

we need more info on your personal situation. What you've said sounds like ownership changed by deed/will in 1989, is now to be sold, and you're trying to determine the cost basis at transfer date.

[MrRational]

Originally Posted by FREE866

is there any way to find out what a house was worth back in 1989?

Research it. Old advertising gets you close.
A specific house... go to the land records.

[FREE866]

Originally Posted by BoBromhal

we need more info on your personal situation. What you've said sounds like ownership changed by deed/will in 1989, is now to be sold, and you're trying to determine the cost basis at transfer date.

That is exactly what I'm doing....

My parents bought a house together in 1968 for $30,000

They got divorced in 1976

The divorce finalized in 1989 at which point the house was put into my mother's name.

Given the house is going to be put on the market for $475,000 next month I'm trying to figure out what her capital gains tax will be when the house sells.

so in crunching numbers I uncovered that if the house price just increased by the annual rate of inflation since 1989 ( which is roughly 3%) then the house's worth back in 1989 was ~$200,000.
Then add all the fence work, landscaping, sunlight, bathroom work, driveway work, floors, deck/painting, house painting, and all the costs involved with the house sale I'm thinking now she should owe close to nothing in capital gains on sale of the house given that $250,000 is tax free.

Thats my thinking at this point.Thoughts?

and thank you all for responding.

[BoBromhal]

there should have been some sort of cost basis established for the home in the divorce. if you have receipts for all that work you mentioned, then some of it will be added to the basis.