I had a different post planned for today, but thought this would be more interesting.
I’m pricing a home where there have been no solds in the neighborhood for the past 6 months, so I had to go back a little further than I might normally, so that I can extrapolate the current potential market value.
And I must say, normally sold prices don’t line up so clearly over time. Guess which two solds are distressed sales?
And granted, this chart doesn’t take into account the condition of the properties - but I’ll throw in that they range from original (from the late 1970’s) to partially updated and the one I’m pricing is completely remodeled. Of the two active listings, the higher priced one is a partial remodel with 4 poor pictures, while the other one has no interior pictures and a single line description - it’s a relative unknown at this point.
I’ve decided what I think is an acceptable range of values for the property - what say you?
How much is this home worth in today’s market?
April 17th, 2008 at 9:34 pm
If the active listings have been around for over 60 days, I would ask 120-125k to stay competitive against all others in “this” market.
Take care,
Bginvestor