Quote:
Originally posted by Tron_fdc@Sep 9 2005, 01:17 PM
I had a RBC appraiser come to my house and he set the value at $260k. I heard these are usually low (the appraisal was for loan purposes) so what would a realistic value be? 280? 300?
|
You can never go by that though. House apprisals are only market relative to a certain degree. Your best market assesment is comparison to your neighbourhood recent sales.
An example, one of my family members built a 2800sq-ft house in Bridgeland about 15 years ago or so and then tried to sell it for what other houses that size went for. The apprisal was high because everything was new and that was the true replacement value in case of fire etc. Problem was that at the time houses in that price range (around 200-250K, I know sounds like a steal now) were purchased by higher end income earners who prefered to go to "fancier" neighbourhoods in the SW and NW. His house was overpriced for the area and didn't sell for good value.
Sort of like building a 350K house in Dover. You would never be able to sell it for that money, people would just go to better districts.
________
Philippine girl Webcams