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I'm trying to find out the value of a particular house back in 1983. Are there any websites where I can get this info? The house wasn't sold at the time; it was purchased in 1972 or 1973 and still has the same owners.
Thanks!
With all due respect, the monetary worth of a home in 1983 is irrelevant in regard to the monetary worth of a home today. Not only are we in a different real estate market but the value of the US dollar is not the same. In the early '80s people were paying double digit interest on RE mortgages and 20% down which in turn had its own effect on the pricing of homes.
If you know the owners of the home why not ask what their property tax bill, based on mill rate was, back in 1983 for that specific property? Take that mill rate and compare it to the current mill rate to sales price ratio of current homes in the immediate neighborhood. That may give you a ballpark figure. But, as others have inquired, I have to wonder for what purpose. Hopefully not in an attempt to tender an offer for today's market.
Since the MLS and property appraisal data bases were not digitized at that time it is going to be nearly impossible to pull "comp" info. from the early 1980s.
Quote:
Originally Posted by Chrisk327
I'm not the OP, but I have to imagine that this isn't the first time that someone had to do somethign like this.
I'm guessing the reason why is regarding to an inheritance issue, the basis in the proprty gets adjusted to fair market value at the time of death. I'm assuming (perhaps incorrectly) that the OP is most lilkely selling the house now and will need to come up with a value plus improvments to compare to the selling price to determine the gain on sale and whether they owe taxes on it.
If that is the case, wouldn't probate have assigned a value to the home at the time of death (if death occurred in 1983) and shouldn't that info. be in the papers of the estate or probate court?
You might be able to check on the appraisal records of comparable homes that WERE sold in that area and time-frame. You could then do a THEN/NOW $dollar analysis from available metrics to arrive at an estimated current $ value. OR, possibly, you could use the Sale price in 1972/3 and do a forward then/now $dollar analysis from there.
Otherwise, you could do some door-knocking in that area and search for someone who might have related records from which you could extrapolate the value you are seeking. Another possibility might be to check with the library microfilm records for listings in that time-frame and area.
Whatever you do, the $$'s will only give you an estimated value and will lack a degree of precision.
I'm guessing the reason why is regarding to an inheritance issue, the basis in the proprty gets adjusted to fair market value at the time of death. I'm assuming (perhaps incorrectly) that the OP is most lilkely selling the house now and will need to come up with a value plus improvments to compare to the selling price to determine the gain on sale and whether they owe taxes on it.
But they said: " it was purchased in 1972 or 1973 and still has the same owners."
It would really be nice if the OP actually came back to his/her thread and explained why this info is needed.
The 3BR 1BA suburban rancher I bought in December 1982 at the overpriced number of $65,000...
was sold by my ex in 1999 for $102,000 then peaked at $ 250,000 in 2007.
zillow says is worth $184,000 today.
Triangulate. Look at the assessment, go to the library and look in the classifieds to see what similar properties were listed for, ask people who may remember, look at housing price data from the 80s and use averages to work your way back to what the house would have been. That should get you close.
Even if you could get comps from the 80's you're talking about the pre-digital photo era. So, you wouldn't be able to make condition adjustments to the values because the listings wouldn't have interior photos.
My feeling is that there's no way to get an accurate value for the house unless it sold during that time period. Of course, as others have pointed out ahead of me, why would you want it?
What about finding the local newspaper and checking the real estate section from 1983? Could give you some idea at least and there should be some pictures
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