Real Estate Information |
|
Real Estate Appraisal - Do It Yourself
For single family homes, there are two basic methods used in real estate appraisal. They are replacement cost analysis, and using comparable sales. A third appraisal method, based on capitalization, is used for income properties, and is covered in another article. In figuring replacement cost the question is: What would it cost to buy this land and put this house on it? If the land (improved) would cost $40,000, and the house could be built for $150,000, the value indicated would be around $190,000 - if the house is fairly new. If it has used up 10% of its useful life, you can deduct $15,000 for depreciation. Replacement cost is not really a very useful measurement. It is difficult to say what the land is worth in a city center where none is left for sale, for example, and tough to gauge depreciation. It is used as a secondary method, and for unique homes that can't be compared easily with others. The primary method of real estate appraisal used for homes is a market analysis using comparable sales. Real Estate Appraisal 101 To get a good idea of what a home should sell for, you need to compare it to homes that have sold. Find at least three similar homes in the same area that have sold within the last year, preferably within the last six months. This information is available in the county records, or from a real estate agent with access to the MLS (multiple listing service). Now the confusing part. You start with the selling price of each of your comparables. If your subject home has a second bathroom, and the a comparable doesn't, you add the value of the bathroom to the sales price of the comparable. If a comparable home has a blacktop driveway, and the subject home doesn't, you take the value away. You are rectifying differences, to see what comparable homes would have sold for if they were like yours. So if a comparable sold for $140,000, and a bathroom is worth $15,000 in your area (ask a real estate agent for help with these figures), you ADD $15,000 for the bathroom it doesn't have. Then you subtract, say $4,000, for the paved driveway it does have. This gives you a comparable sales price of $151,000. You do this with all differences between the subject home and each comparable. When done, you average the three comparable prices. So if the three comparables have adjusted sales prices of $151,000, 162,000, and 149,000, you add the three figures and divide by three. The indicated value of the home is $154,000. Of course all appraisal is an inexact science. If you can only find comparables sold over a year ago, you have to estimate appreciation in the area. If one sold with seller financing, you have to decide how this affected the price. For all of it's flaws, however, for single family homes, this is the most accurate method of real estate appraisal. Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com
MORE RESOURCES: Judge Approves $418 Million Settlement That Will Change Real Estate Commissions - The New York Times Metro Denver apartment market achieves a zen state in 2024 The Denver Post Montrose co-living, micro-units apartments to open in Houston TX Houston Chronicle Pinnacle Construction, Sun Title plan 181 apartments in Creston Grand Rapids Business Journal The Folly of China's Real-Estate Boom Was Easy to See, but No One Wanted to Stop It The Wall Street Journal Agencies' headquarters in DC remained 'nearly empty' in 2023, real-estate board finds Federal News Network Charlotte County cash buyers bolster mixed real estate market Gulfshore Business Y Combinator alum Matterport is being bought by real estate juggernaut CoStar at a 212% premium TechCrunch Real-estate agent's ritzy Hamptons home used in fake Airbnb scam Business Insider Alabama Realtors release March economic and real estate report Alabama Political Reporter Real Estate Taxes Due, Wednesday, May 1 | Boxford MA Boxford MA | Santander now servicing servicing $9B NY real estate portfolio previously held by Signature Bank Long Island Business News Homebuyers and sellers might spend less following major real-estate settlement - Evanston RoundTable Homebuyers and sellers might spend less following major real-estate settlement Evanston RoundTable Joel Heydenburk Discusses Evolution of Fort Worth Real Estate on 'Location Cubed' Podcast – Jackson Walker Jackson Walker LLP WestShore Plaza redevelopment is approved, mall to be demolished Tampa Bay Times Blackstone's Beleaguered Real-Estate Fund Stems Exodus The Wall Street Journal Reversing the Real-Estate Doom Loop Is Possible. Just Look at Detroit. The Wall Street Journal Atlanta Real Estate Investor's Sales Pitch Is a Curveball: Lease Office Space, Become Co-Owner CoStar Group University of San Diego real estate team wins first place in 2024 ARGUS University Challenge Daily Commercial News Pinellas Beaches Real Estate April 11-19 The Gabber Newspaper Annie Leibovitz just listed her rural California estate for $8.995M Business Insider Industry Real Estate Partners hires new vice president - Atlanta Business Chronicle The Business Journals $700000 Homes in Kentucky, New Hampshire and Minnesota The New York Times Top Payment Trends in Commercial Real Estate: A talk with JPMorgan Chase's Lisa McDonnell Commercial Observer Commercial Real Estate Pros On the Finance Market: 'Not a Typical Cycle' – Commercial Observer Commercial Observer Banks Believe They Are Well-Prepared for Commercial Real Estate Fallout The Wall Street Journal Real Estate Sales Include Two Falconer Commercial Properties Jamestown Post Journal Libertum Announces Strategic Collaboration with Tulum Land & Properties to Revolutionize Real Estate hackernoon.com Real Estate Transactions Business West Episode 193: From Real Estate Mogul to Live Theater Producer Biz New Orleans Manhattan Real Estate Update: "Embrace the Boredom" westsiderag.com ACCENTRO Real Estate AG (ETR:A4Y) Stock's 31% Dive Might Signal An Opportunity But It Requires Some Scrutiny Simply Wall St Is The Housing Market Going To Crash? Bankrate.com CoStar eyes virtual reality as integral player in future real estate deals - Washington Business Journal The Business Journals Two Palm Beach billionaires linked to $108M house purchase in Aspen Palm Beach Daily News Former HGTV star gets jail time for real estate fraud PIX11 New York News VIDEO | REAL ESTATE | Jackson restaurant for sale by Wendy Wendorf - Homestead Realty washingtoncountyinsider.com 10 Real Estate Charts Showing What's Next for Housing: Ivy Zelman Business Insider Historic Markley Hotel will be redeveloped as small business, retail hub with student housing next door Baltimore Sun Kanye West drops price of Malibu estate from $53 million to $39 million San Francisco Chronicle Inside Bill Gates' real estate, from his Seattle to Florida houses Business Insider REAL ESTATE | Open House event April 25, 2024, at Love Hope Faith Home in West Bend, Wi | By Charmaine Brea washingtoncountyinsider.com Letter to FERC: TDP real estate ad sparks Cheat Lake resident's concern about removing Cheat Lake land from federal ... The Dominion Post Better Homes and Gardens® Real Estate Announces Renewal of 45-year-old Atlanta Brokerage Franchising.com Big bill comes due for Martin Selig, giant of Seattle office real estate The Seattle Times Bill Vanderstraaten, Scott Rohrman to join North Texas Commercial Real Estate Hall of Fame The Dallas Morning News The agency imperative to manage real estate more effectively Federal News Network Best Real Estate Stocks to Buy in 2024 Techopedia 9 Best Places To Live In Portugal, According To Local Real Estate Experts TRAVEL + LEISURE INDIA Great week for Prodea Real Estate Investment Company Société Anonyme (ATH:PRODEA) institutional investors after ... Simply Wall St Dallas real estate investor buys North Side office tower - San Antonio Business Journal San Antonio Business Journal How Alexico's $180 Million Deal With St. Francis College Fell Apart The New York Times Eliza Solender hosts President's Tea to empower women in real estate Preston Hollow Advocate Pennsylvania lawmaker hopes to avoid 'retail apocalypse' with mall redevelopment tax abatement - Philadelphia ... Philadelphia Business Journal Fed Report Warns of High Risks in Real Estate and Housing Norada Real Estate Investments |
RELATED ARTICLES
Real Estate for Beginners: Residential Property Taxes Whenever you own a piece of land, you will be taxed for it. Whether it is commercial property or residential property, there is still a tax to pay, whether it is for a village, town, city, county, or state. Sell Your California Home For Top Dollar HOW TO SELL YOUR HOME FOR TOP DOLLAR1. Make your home look like a model - even if it isn't. The Key to Real Estate Investing Success Revealed! How did you get into real estate investing? Did you read a book on it? Was it a seminar? A meeting of some sort with speakers dispensing real estate investing information, but really selling courses? Did you get really, really jazzed and pumped up by these simple ("not easy") concepts that were delivered to you in parable form from the stage by a charismatic speaker?Did you find yourself levitating to the back of the room, powerless but to slap down your plastic to buy the kits that were being sold there? Like, "Yes Mr. Ker we do take traveler's checks. Ten Tips For Selling Your House One of the biggest mistakes people make when selling a house, is not understanding real estate value. It doesn't matter at all what you think your home is worth. How to Achieve Financial Freedom with Your Home The secret disclosed on how you too could achieve financial freedom through property (and tell the pension companies just where to stick their measly, worthless 'pensions') Geoff Morris is a self-made property millionaire who made it in less than 18 months even with a hectic 'day job'. He has written a series of articles to help people like you achieve the same levels of success - as long as you are willing to 'Go For It!'Many people these days are getting more and more concerned as they approach retirement age. Sell Your Home Without Paying Any Commissions All of us know that real estate commissions can work out to quite a bit of money - anything from a few thousand dollars with discount brokers to 6% in commissions with full-service agents. That's a substantial sum of money to be paying for something you could very well do on your own. Selling Your Home - What Can Go Wrong With Title and Lenders If you're selling your home, there are going to be difficulties at some point in the transaction. Some problems can't be fixed. Are You Tired of Tenants, Toilets, and Trash? Wouldn't you rather go to Tahiti? Are you a landlord with rental property whose value has significantly appreciated? Are you ready to cash in those profits and take that trip to Tahiti?Before selling your property, check with your accountant whowill tell you that you will be paying $60,000 in CapitalGains Tax to Uncle Sam. Your accountant will also tell youthat adding another $20,000 to your income by that sale iscalled recaptured depreciation. According To Sellers, Silence Isnt Always Golden' When trying to sell a home, silence isn't always golden especially when you're expecting your real estate agent to call. In fact, it's one of the leading complaints among sellers in the real estate market. Real Estate Investing with Bad Credit! By being creative, you can play the game of real estate investing by using what is called Option's investing.This is just one technique of the Option's strategy of investing but can be a power tool in your investors toolbox to help you control more real estate and build wealth. Apartment Loan 101 So you're interested in going into business as a property manager? Have you given any thought yet to you'll enter this potentially profitable market? Reality check-unless you've just inherited a large sum of money from a relative or are otherwise independently wealthy you're going to find someone to borrow from. This is where an apartment loan comes in. Real Estate Investing Is A Better Gamble Than The Lottery Real estate investing begins when you move to the starting point.Get ready. Where is the Sophisticated Property Investor Putting his Money? The Traditional FavouritesOver the last five to ten years, UK investors buying property abroad have generally stuck to the traditional favourites Spain, France and Italy. With prices a fraction of those in the UK and a guarantee of more sunshine, these markets offered plenty of scope for capital appreciation, rental return and holiday home use. Is 100% Annual Return On Investments Possible With Low Risk Land Investments? In last week's article, we discussed how substantial profits could be made by investing where baby boomers may want to relocate or buy a second home. This seemed to confuse readers since they were thinking that our web site is about preconstruction and preconstruction to them means buying condos?? In this article, I hope to broaden your horizons considerably. How To Best Negotiate A House Deal Whether it's selling your home or buying a home, more often than not you'll come across a stage where you'd have to negotiate. Negotiation is the art of getting what you want at your terms and conditions. Buying Land For Development Requires Careful Planning and Execution From the desk of Colm Dillon .. Real Estate Feasibility Study (Cost Side) - $1.2 Billion Developer Tells You How To Do One There are two sides to real estate development feasibility study: The Cost Side & The Income Side.I am going to concentrate in this article on The Cost Side. Helpful Hints for First-Time Home Buyers Buying a house can be a daunting task, even for someone who has owned several homes. My husband and I recently purchased our first home together, and it was hard to find good advice that we truly found useful. Buying To Let Top Ten Tips Buying to let is considered a serious investment and should not be conducted without some equally serious research. Our top ten tips will get you on the right path to finding out all you need to know to become a seriously successful landlord. How To Increase Your Homes Selling Price by $3,306.75 In The Next 33 Days According to the Federal Housing Finance Board:.. |
home | site map |
© 2006 TIGER MEDIA |