Posted by michaela-CA on March 30, 2008 at 10:02:59:
In Reply to: Re: Possible bird dog deal posted by Jamal on March 30, 2008 at 07:34:34:
Hm.....if you had written 300 miles, then I'd see the problem ;-). 30 miles? Spend your day today by driving around int he neighborhood. Go to every 'open house' and compare. It's one thing to compare based appraisal values. i.e. number of bed/bath room, sqf etc, but it's a totally different pricture to get the actual energy of different houses. What would a buyer see? How do these houses compare and which one would be picked first by a buyer? You can have the same appraisal value, but one house has white walls, neutral carpet, is completely empty, has no trim - basically 'no emotion' (which is how a lot of investors renovate - so that the buyer can add their own touches and nothing detracts their imagination) and you can have the same size house with taupe walls, sparkling white crown molding, great staging of furniture etc. On paper those houses are the same, but which one would attract a buyer more?
So, go to open houses and get a feel for what you'd be competing with and that will give you a real feel for the comps.
Michaela