question on how to get market value for a house
There's a house the seller says is worth 300,000 cause a house across his (at a little less square footage) sold for that. Hillsborough County appraiser site lists that house at Just (Market ) Value at 107,000 and the Assessed Value (they have it listed separately says the same price.
My husband got it on contract for 245,000 with $500 earnest money which we now lost cause he decided that it's not a good deal cause it's being sold by a realtor and has been on the market for 4 months.
I argued with him that it can still be sold to an investor cause there may be an investor that will have time to wait for it to sell. He argues back that if it's been on the market for so long with a realtor and that realtors are able to advertise it more than if it was by owner, there must be something wrong with the house and we probably won't get it sold.
He has not been able to get proper comps and can't hire a realtor to get the comps which many of you seem to say won't really give you accurate info anyway.
Guess my main question is how would you have handled this? Would you have spent money on an appraiser assuming you are just starting out and have not been able to get relationships yet with RE agents, appraisers, etc.
I was really not happy to have lost that $500 which we really could not afford to lose.
Thanks for any advice.
Being an appraiser myself, I would highly recommened that you have an independant appraiser value the property in question if you do not know the market that you are in very well.
Hi Kelly!
The thing is he didn't want to bother spending money on an appraiser cause he didn't think it would sell since it's been on the market for 4 months and the seller was offering it at 260,000 when the house across his sold for 300,000. His thinking was that if it's been on the market for 4 months, an investor would've gotten it already if it was a good house.
Anyway, where do you live in Florida?
Could you contact me offline? Email me at windersnest @ cognigenmail.com
Thanks,
Sappho