[5-DayForum] home valuation in MA
brentday at althor.net
brentday at althor.net
Sat Aug 4 08:59:34 EDT 2007
Dear Forum,
Any advice on this? Our house seems comporable to others
that have sold between 215-300k. If we thought it was
worth $250k we'd list it at 124,500, but what if we
thought it was worth $225k?
Thanks!
Brent
On Fri, Aug 03, 2007 at 11:56:25AM -0400, brentday at althor.net wrote:
>
> Hi guys,
>
> Let me try the valuation another way and get your opinions.
>
> Ignoring Zillow, and going just on recent home sales in the last
> 4 months:
>
>
> 4bed 1.5 bath
> 2100 sf
> Lot 3844 sf
> Year: 1880
> $235,000
>
> 3bed 1.5 bath
> 2200 sf
> Lot 28,767 sf
> Year: 1870
> $305,000
>
> 3bed 1.5 bath
> 1400 sf
> Lot 10,890 sf
> Year: 1900
> $215,000
>
> 3 bed 2 bath
> 2200 sf
> Lot: 12,632 sf
> Year: 1860
> $232,000
>
> 3 bed 2 bath
> 2100 sf
> lot 13,300 sf
> year: 1880
> $300,000
>
>
> My Home
> -------
> 4 Bed. 1.5 Bath
> 2000 sf
> Lot 26,126 sf (.6 acre)
> waterfront
> Year: 1860
> $???????
>
>
> Any ideas?
>
> Thanks so much!
>
> -Brent
> On Fri, Aug 03, 2007 at 11:24:49AM -0400, brentday at althor.net wrote:
> >
> > Hi Bill,
> >
> > I'll do a search on zillow. Glad to have your opinion.
> >
> > For what its worth, in the last couple months there have
> > been home sales in my town for 3bed 1.5 bath that
> > went for $300k and $305k. Zillow just updated my
> > home today and lists it at $247k (not including
> > the improvements made).
> >
> > Perhaps I'm looking at it too much. We're prepared
> > to take much less than 250k as an offer, we're just
> > trying to understand how to initially value it.
> >
> > State wide homesales for this year are -3%. Spencer
> > is listed as +6% however.
> >
> > This all is new to me...I might as well be reading
> > tea leaves.
> >
> > Anybody else have an opinion?
> >
> > Thanks,
> > -Brent
> >
> >
> > On Fri, Aug 03, 2007 at 11:12:34AM -0400, Bill Effros wrote:
> > > Brent,
> > >
> > > I just read your responses, and I also think you're starting to high.
> > > Look up some of my comments about Zillow. As far as I'm concerned it's
> > > so far off at this point as to be useless.
> > >
> > > I doubt your home is worth $250,000.
> > >
> > > I would start it at $99,500. If it's worth $250,000 you'll still get
> > > $250,000. But if it's only worth $200,000, you'll still get 25 calls by
> > > Friday night if you advertise in the right places.
> > >
> > > 1.5 bathrooms for four bedrooms on a $250,000 house is a problem. Most
> > > people will need more bathrooms. Adding them will cost a substantial
> > > amount of money. Especially in these times, when there are so many
> > > homes available, and sellers are just this side of desperation.
> > >
> > > Rereading my response, I might start at $74,500.
> > >
> > > Bill Effros
> > >
> > > brentday at althor.net wrote:
> > > >Hi Bill,
> > > >
> > > >Wow, I guess I must have mis-understood the reasoning.
> > > >
> > > >We live in a small town (Spencer), next to a large
> > > >city (Worcester).
> > > >
> > > >Hmm, I guess maybe I should also advertise in the town
> > > >weekly paper.
> > > >
> > > >I think I'm gonna go re-read your book and see where I went
> > > >wrong.
> > > >
> > > >Thanks for the correction!
> > > >
> > > >-Brent
> > > >
> > > >On Fri, Aug 03, 2007 at 10:11:04AM -0400, Bill Effros wrote:
> > > >
> > > >>Brent,
> > > >>
> > > >>I just got to the bottom of your e-mail. As noted previously, we don't
> > > >>know what your town is, at least we don't know if we've only read this
> > > >>e-mail. Your advertising strategy sounds like the reverse of what I
> > > >>would recommend. The exact people you want to reach are those in town.
> > > >>Even the ones who are just nosing around. If they like what they see,
> > > >>even if they are not themselves the real buyers, they will send the real
> > > >>buyers along. The people around town know your home is worth much more
> > > >>than you've asked.
> > > >>
> > > >>Bill Effros
> > > >>
> > > >>
> > > >>
> > > >>brentday at althor.net wrote:
> > > >>
> > > >>>Hello 5-Day Forum!
> > > >>>
> > > >>>I'm going to be running my 5day sale next week
> > > >>>and was hoping you'd be kind enough to give me
> > > >>>your advice.
> > > >>>
> > > >>>I'll be more than happy to share my experience
> > > >>>of the sale during and after the process
> > > >>>with everyone. I have also contacted other
> > > >>>people in my state who have run a 5day sale
> > > >>>and will report on what their methods and
> > > >>>successes were.
> > > >>>
> > > >>>Since I'm running the sale next week, I need
> > > >>>to submit the advertising soon. I'd like
> > > >>>your feedback. This is in Massachusetts.
> > > >>>
> > > >>>Our tentative ad:
> > > >>>
> > > >>>MYTOWN BY OWNER
> > > >>> Waterfront. 4 Bed. 1.5 Bath
> > > >>> Well maintained. Active wildlife.
> > > >>> $124,500 or Best Offer
> > > >>> Inspection Sat-Sun 10-5
> > > >>> Will be sold Sunday Night to
> > > >>>HIGHEST BIDDER (555) 123-4567
> > > >>>
> > > >>>We will be advertising:
> > > >>>Boston Globe
> > > >>>Telegram and Gazette
> > > >>>Craigslist
> > > >>>ForSaleByOwner.com
> > > >>>Owners.com
> > > >>>[and a couple other free internet ones]
> > > >>>
> > > >>>I have read recently in the forums about the "Flyer" option. A
> > > >>>full page flyer copy of the adcopy included in the papers. It seemed
> > > >>>to get a real good response.
> > > >>>
> > > >>>The flyer option for the Telegram&Gazette is $85 per 1000 copies. The
> > > >>>newspapers total circulation is 160,000, with a discount at about $9000
> > > >>>for a full run. Obviously that is too much...so I wonder if doing a
> > > >>>couple
> > > >>>thousand is worth it or if that might skew my results.
> > > >>>
> > > >>>Another option, is that the T&G puts out a Home Magazine every wednesday
> > > >>>(this timing seems rather fortutitous). A quarter page ad is about $300.
> > > >>>I could pick the half of the city nearest my home or further away (there
> > > >>>is a west and east version).
> > > >>>
> > > >>>Lastly, the Boston Globe has an Open House feature every friday. Your
> > > >>>ad is
> > > >>>also featured in a grid with all other open houses. The person on the
> > > >>>phone wasn't clear what could be included in that ad, but it did seem
> > > >>>price and minimal data (rooms,baths) would be. I'll get tomorrow's
> > > >>>paper and see what it looks like. This is only an extra $30 on top of
> > > >>>the regular classifieds listing.
> > > >>>
> > > >>>So please let me know what you think of these other advertising
> > > >>>options. I most sincerely appreciate it.
> > > >>>
> > > >>>The only other thing I would note at this point is that I am avoiding
> > > >>>advertising in-town. I'm trying to hit the major real estate papers but
> > > >>>want to avoid skewing my 25 callers with people in town that want to
> > > >>>"see whats happening", but have zero intention on buying.
> > > >>>
> > > >>>Thanks so much,
> > > >>>
> > > >>>Regards,
> > > >>>Brent B.
> > > >>>
> > > >>>_______________________________________________
> > > >>>5-DayForum mailing list
> > > >>>5-DayForum at mailman.howtosellyourhomein5days.com
> > > >>>http://mailman.howtosellyourhomein5days.com/mailman/listinfo.cgi/5-dayforum
> > > >>>
> > > >>>
> > > >>>
> > > >>_______________________________________________
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> > > >>
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> > > >
> >
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