OfflineARV
Can anybody offer suggestions on ways to find ARV? Have calls coming in from motivated sellers, but would like to figure out ARV when putting together offers. Greatly appreciated.
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How can I determine ARV?
Posted on: Sat, 11/24/2012 - 05:09
How can I determine ARV?
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- by Louis3733
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Hi again, Louis!
Trulia.com shows SOLD Comparable Data...be sure to choose recently sold comps (within last 6 mos.). Same features (beds/baths), same square footage (within 100 sf), same amenities, same subdivision, etc. Like with like.
It's possible to go back 9 mos. or even 12 mos., if need be. No further back than that.
If you must go back further, it's an indication that houses aren't selling or moving fast in that particular market.
You can ask your RE [Buyer] Agent for recently Sold comps.
They can give you a CMA (comparative market analysis).
Choose at least 3 good ones for comparison. Be realistic.
These are actual sold houses, not what they're being listed at currently.
Check out some "Real Estate Forums." There's more info. there.
Happy Prospering! ~Kat, Liberty Residential Investment Acquisitions
• "To every thing there is a season, & a time to every purpose..." ~Ecclesiastes 3:1-8
• "Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy!" ~Dale Carnegie
• "Begin, be bold, and venture to be wise." ~Horace
• "Never, never, never give up." ~Winston Churchill
• "Whatever you do, or dream you can, begin it. Boldness has genius and power and magic in it." ~Johann Wolfgang von Goethe
As Kat stated, the best option would be to get a CMA from your realtor. Also, some states (specifically those that are disclosure states) would have comps available through the recorder of deeds or county recorder. This varies state by state, but a very helpful tool.
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Hi Kat,Do you know of any database that would list all states that are disclosure/nondisclosure states?Thank you Chuck
You should be able to google it. (full vs. non-disclosure)I will lokk and see what I can find.
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
What about Real Estate Analysis System?
'God, I'm asking you not to just supply my needs, but to bless me so much that I can be a blessing to other'..........................................Joel Osteen
'Happiness lies in the joy of achievement and the thrill of creative effort'
............................................................Franklin D Roosevelt
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Hi, Chuck!
I KNOW Texas is a non-disclosure state. LOL
Here's a list of 14 Non-Disclosure states:
Alaska
Idaho
Indiana
Kansas
Louisiana
Maine
Mississippi
Missouri
Montana
New Mexico
North Dakota
[Texas]
Utah
Wyoming
Happy Prospering! ~Kat, Liberty Residential Investment Acquisitions
• "To every thing there is a season, & a time to every purpose..." ~Ecclesiastes 3:1-8
• "Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy!" ~Dale Carnegie
• "Begin, be bold, and venture to be wise." ~Horace
• "Never, never, never give up." ~Winston Churchill
• "Whatever you do, or dream you can, begin it. Boldness has genius and power and magic in it." ~Johann Wolfgang von Goethe
Everyone has great comments here on this thread.
Determining ARV is going to be the best way to establish value on your property.
This is best determined by finding out how much properties are selling for that fit the same criteria as the home that we are looking for. Keep in mind that we want home sales in the last 1 to 3 months at the most in todays market. This is different than 7 years ago when we could go as far back as 6 months. Getting recent home sales is ultimately going to tell us how much our house is going to sell for.
Hope this helps.
Thanks,
Matt W.