OfflineGot called from an CA Mom who's trying to sell a house inherited from her deceased parent's in Alton, Missouri. The house is 2480 sq. ft. on 3 acres of land compared to 1,000 to 1500 sq. ft. homes in the area. The house is owned Free and Clear, in a flood zone needing lots of work.
The extimated value from the Total View Real Estate site is $159,236 which couldn't possibly be true for the area.
My agent friend who is licensed in Missouri and not in Illinois say's the property is in Illinois. Therefore, he cannot run COMPS. The property address show's to be a Missouri property.
Suggestions please!
Rodney
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I would contact a Realtor in the area of the home to get some comps for you...maybe get a couple of Realtors to run comps. You want someone that really knows the area.
Barbara
Right Barbara!
I guess we have to determine first if the house is in Missouri or Illinois.
I suggested again to my agent that the house is infact in Missouri. Perhaps in a different county than he thought which is why he couldn't find it.
Nevertheless, I don't believe he's well versed on the area so I certainly will seek a couple more agents on this.
Thanks Again Barbara!
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talk to the CA mom directly. Your post doesn't say it's listed so talk to her directly. Especially since it is free and clear; there are a lot of possibilities that can be done with this one.
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I would try the bordering counties' tax assessor's offices online and see who's getting the taxes from the property. You'll also see how much the house was assessed for for the last couple of years. At least that will give you something to start with.
If that fails, call the local post office and ask them what state the property is in.
And like Bill said, call the CA mom, that would probably clear up a lot of confusion.
Good luck, let us know how you make out.
Mark K.
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I did exactly that and met her at the property. She is ready to make a deal and I need to make an offer like yesterday. She needs to get back to CA on Tuesday. I'm working on repair estimates and just got a CMA in to look over.
Thanks a Mil!
Start Where You Are! Use What You Have! Do What You Can!
Never let failure dominate you. Never let the mistates of your past Lord over you.
Go Confidently in the Direction of Your Dreams. Live the Life You Have Imagined.
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The property was assessed for $137,230 in 09. The property is certainly in Missouri.
Appreciate the feedback!
Rodney
Start Where You Are! Use What You Have! Do What You Can!
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Property Not listed Bill!
Start Where You Are! Use What You Have! Do What You Can!
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Hey Mark! The current assessed value is $131,290. I'm assuming that's a good place to start as you suggested. If so, I pretty much have all my numbers minus repairs which I'm working on now.
Rodney
Start Where You Are! Use What You Have! Do What You Can!
Never let failure dominate you. Never let the mistates of your past Lord over you.
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chop $25K right off the bat
Try to divide the Price of the finished house in the area, Price/total square feet = price per square feet. Multiply it by the total square footage of that house you're selling = ARV. Minus 50%, minus Cost of Repair and minus how much you want to make = OFFER.
Blessings to all. LA
Everytime you repeat the words "I CAN DO IT" with conviction, you cancel or override your fear and increase your confidence. By repeating this affirmation over and over, you can eventually build your courage and confidence to the point where you are unafraid. -Brian Tracy-
Elix is right, if it's in a flood zone, chop another 25k.
Everytime you repeat the words "I CAN DO IT" with conviction, you cancel or override your fear and increase your confidence. By repeating this affirmation over and over, you can eventually build your courage and confidence to the point where you are unafraid. -Brian Tracy-
Will Do!
Rodney
Start Where You Are! Use What You Have! Do What You Can!
Never let failure dominate you. Never let the mistates of your past Lord over you.
Go Confidently in the Direction of Your Dreams. Live the Life You Have Imagined.
- Henry David Thoreau
Website that get's results: www.jracrealestateinvestments.com