Where do you derive your values for properties.?

Here we have a property on a 3/4 acre site with waterviews in a highly desirable area of like homes. The land has a market value of at least $300,000. With 2250 SF of updated living space the cost to rebuild at today's cost per square feet is $225 psf. Just the house would cost out at $500,000. Therefore house with land would have a market value of $800,000. Your site has the market value of $505,000. The adjacent house sold a year ago for $900,000. I see a significant defect in your property value modeling. This is Cape Cod, not some isolated rural area.
(0) | asked by: Phil Bateman | share | 15 months ago | Report
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answer by Craig Bassett    |   Contact Me
I wouldn't rely on estimates of value from home sites. If you want an accurate representation of your homes value I would suggest having an agent do a CMA for you to determine your property value in the current market.
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answer by Nancy Munies    |   Visit My Website   |   Contact Me
Hi could you please give me the address you are looking at, or the MLS number. I will try to have an answer for you. Thanks Nan
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15 months ago  |   Report   |   share
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