Jim, The Mrs is an ex RE agent, and we have dabbled in RE for years. ANYTHING is only worth what someone will actually pay for it. That said few agents will work hard to get you top dollar. They prefer to get a quick commission for the least expense in advertising and work,the more attractive the price, the quicker the sale. Go on Zillow,Trulia, realtor.com,and search SOLD listings in the last 6 months for nearby lots. Proximity to uttilities,perk tests,views,neighbors and roads make each lot unique. I would certainly get the OPINION of a neighborhood RE agent..then listen to your little voice. We have had some very good transactions by simply chatting over a cup of coffee, making counter offers and sharing the cost of a Realtor or attorney to draw up papers. Its not a good deal unless it's a good deal for everyone....especially if you live in a small town. :)
Real Estate questions
by Jim_TX 22 Replies latest social family
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JWdaughter
There are ways to assess the value and you have good suggestions here. I think that your neighbor is trying to get one over on you, so watch out. I also think that as you are not desperate to sell that you should hold on until you get an offer that makes sense to you.
Don't ask ONE local real estate agent. Check zillow for recent sales and assessed values and 3 local agents and ask for an assessment. Its a bit of a PITA getting them all and hearing the sales pitches, but you will have a better idea of what is a reasonable expectation in this case. If you like one of them and later get a reasonable offer, you could ask them to draw up the papers or whatever, but you are under no obligation to deal with them and can simply hire an attorney to take care of it if you sell all on your own.
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AGuest
ANYTHING is only worth what someone will actually pay for it.
Goodness, I was hoping someone was going to say that (thank you, dear BA, and peace to you!). Appraisal, schamaezel, dear Jim (peace to you!) - the appraised value only gives you an idea of what to list for... the asking price. The "market" is what a potential buyer is willing to pay and so the market dictates the sale price of anything... everything. Some will actually pay more than you're asking; most, though, will try to pay less.
Please note that appraisals may be inflated (part of what caused the housing market crash!). Although they're not supposed to (and can lose their license if caught), some appraisers do this to get referrals ("YOU should use him! He appraised MY house at...!") or to help property owners refinance/get loans on the properties.
I don't know if anyone has asked this... but if you need to sell, have you tried to negotiate your neighbor's offer up? If not, might be worth a try.
Peace to you!
SA, on her own...