Author Topic: Determining the Value of a Property?  (Read 1390 times)

AlmostIndependent

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Determining the Value of a Property?
« on: January 02, 2014, 02:07:58 PM »
I have several properties, some rentals plus my house. The equity in any property represents money that can potentially be invested elsewhere if that property were to be sold. On an ongoing basis how do you determine the value of your properties? There are the obvious Zillow and Trulia; here in Alaska those values swing, sometimes wildly, I was curious what methods people use to determine how much cash they have available should they decide to sell that property?

SnackDog

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Re: Determining the Value of a Property?
« Reply #1 on: January 02, 2014, 04:55:52 PM »
Go on Zillow and identify, ideally, three properties identical to yours in size, age,  condition, number of beds and baths, within half a mile of your property, which have sold within the last 90 days. These are your best comparables. To whatever extent they are not identical to yours, you need to manually adjust the comparable value.  I'm not sure sales prices are public in Alaska. If not, you will need help from a realtor.

AlmostIndependent

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Re: Determining the Value of a Property?
« Reply #2 on: January 02, 2014, 07:09:00 PM »
Go on Zillow and identify, ideally, three properties identical to yours in size, age,  condition, number of beds and baths, within half a mile of your property, which have sold within the last 90 days. These are your best comparables. To whatever extent they are not identical to yours, you need to manually adjust the comparable value.  I'm not sure sales prices are public in Alaska. If not, you will need help from a realtor.

Sales prices aren't public in Alaska :(

I'm mostly looking to get a decent idea of value without having to go to a realtor. The numbers for an individual property on zillow are all over the place (sometimes jumping as much as 10% in a relatively short period of time).