Electric Co. buys (Real Estate Appraisal) Stanton Tower

Electric Co. buys Stanton Tower
El Paso Times – The El Paso Central Appraisal District appraised the building for tax purposes at $12.01 million last year, but the district build it new,” said Mike White, managing director of the El Paso office of CB Richard Ellis, a national commercial real estate

Nonprofit pays off in easements
Rocky Mountain News – than 100 conservation easement deals around the state, including dozens in December after the Colorado Division of Real Estate 5 million appraisal Another appraisal on property next to the town of Elizabeth that was put into a conservation easement

For sale, for less (Real Estate Appraisal)

For sale, for less
Baltimore Sun – Real estate investor Arthur Jordan, outside a Waverly rowhouse he rehabbed and has been trying to sell for five months. He cut Buyers will likely need to pony up more money, regardless of the lender, if the appraisal for the home they want includes

Metro Atlanta mortgage fraud ring convicted
Atlanta Business Chronicle – Each of the properties was accompanied by an inflated appraisal, which in addition to the submission of false loan applications, enabled the defendants to secure real estate financing from SunTrust Mortgage in excess of the fair market value of the

Are local real estate values bucking the national trend?
Ironton Online – The Lawrence County Auditor must deal with facts as evidenced by local market actions taken by Lawrence County residents when they buy and sell real estate. Ohio law mandates that County Auditor s do a full blown appraisal every six years (the

DVD Success Series: Real Estate Investor’s College (Real Estate Appraisal)

DVD Success Series: Real Estate Investor’s College The DVD Success Series is a premium line of personal productivity recordings featuring acclaimed content from renowned motivators and success coaches, and designed for people on the move.

Ever wished you had the time for a one-on-one, in-person seminar led by a world authority on real estate prosperity? With Real Estate Investor’s College on DVD, property investment guru Dolf de Roos demonstrates field-tested strategies and insider techniques designed for novice and seasoned real estate investors alike. This six-DVD suite offers an in-depth video compendium of how-to tips for creating and perpetuating property income, then allows you to sit in on a series of international question-and-answer sessions featuring specific real estate queries from program participants. Dolf de Roos’ Real Estate Investor’s College on DVD: the best seat in the house, providing a private audience with one of the world’s premier investment authorities.

6 dynamic video seminars presented by Dolf de Roos
– Real Estate Riches (1 DVD): Dolf de Roos’ comprehensive, critically acclaimed presentation originally broadcast on pay-per-view, offering field-tested techniques for creating wealth through property. – Discussions with Dolf (5 DVDs): A unique global forum offering real-life answers to specific real estate queries posed by program participants from New York to New Zealand, providing continuing real estate education in an illuminating Q&A format.

Real Estate (Real Estate Appraisal) Value

>

What is real estate value? It isn’t what you have into your house. It isn’t what you feel it is worth. It is what the market will pay. How do you figure out what the market will pay? For single family homes, the best way is by seeing what similar homes have sold for.

Figuring replacement cost isn’t very useful. It’s difficult to say what land is worth in a city center where none is left for sale, for example, and tough to gauge depreciation of the home itself. Valuation from replacement cost is used as a secondary method, and for unique homes that can’t be compared easily with others. However, the primary method of real estate appraisal used for homes is a market analysis using comparable sales.

Real Estate Value 101

First find at least three similar homes in the same area that have sold within the last year, and preferably within the last six months. You can find this information is in county records (sometimes online now), or from a real estate agent with access to the multiple listing service. Make sure you have the basic sales information: sales price, terms of sale, description of the property, etc.

Here is how you use this information to find real estate value. Write down the selling price of your first comparable. Review the description item by item, adding to the sales price of the comparable for each thing it doesn’t have that your subject home has, and subtracting for each thing it has that your subject home doesn’t have.

This sounds confusing, but it will make sense once you try it a couple times. For example, 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. What you are doing is rectifying differences, to see what the comparable home WOULD have sold for if it was just like yours. Suppose a comparable sold for $140,000, with one less bathroom than your subject home, 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. You subtract, say $4,000, for the paved driveway it does have, that your home doesn’t have. $140,000 plus $15,000, minus $4,000 gives you a comparable sales price of $151,000.

Do this with all differences between the subject home and each comparable. Once done, average the three comparable prices. If, for example, the three comparables now have adjusted sales prices of $151,000, 162,000, and 149,000, add the three figures and divide by three. The indicated value of the home is $154,000.

All appraisal is an inexact science. You might only find comparables sold over a year ago, and have to estimate appreciation in the area. If a comparable sold with seller financing, you have to decide how much this affected the price. Still, for all of it’s flaws, for single family homes this is the most accurate method for finding true real estate value.

About the Author

Steve Gillman has invested in real estate for years. To learn more, get a free real estate investing course, and see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com