Home Buying in Spokane>Question Details

Brilliant, Home Buyer in 97502

Is the price of land sold 10 years ago a fair price to offer in today's market?

Asked by Brilliant, 97502 Mon Feb 4, 2013

Help the community by answering this question:

Answers

7
Thank you for all the answers!
0 votes Thank Flag Link Tue Feb 5, 2013
As has been said in previous posts, there are numerous factors that impact the value of land. The best way to determine a good offering price is to have your agent work up recent sales on similar properties in the target area. I specialize in land, and have found that owners generally have a good idea what surrounding properties have sold for and what they can reasonably expect to receive.
0 votes Thank Flag Link Tue Feb 5, 2013
All that matters is what the land is worth today. Get a real estate broker or an appraiser to help you figure it out. Land values are going up right now & that is a good thing for you.

Good luck to you in any case,
Jirius Isaac
Isaac Real Estate Team
Champions Real Estate Services
TriStar Finance #MLO-107799
Office: 425-483-6849 Cell: 206-841-9976
Winner of Seattle Magazines 5 Star
Real Estate Agent Best in Client Satisfaction Award
Mortgage Loan Originator Best in Client Satisfaction
Web Reference: http://tristarfinance.com
0 votes Thank Flag Link Tue Feb 5, 2013
The best answer is "maybe". There are too many issues that affect the price of land to answer your question directly. Its size, topography, availability of water and utilities, location, presence of timber, zoing, etc. all have an impact on your question.
0 votes Thank Flag Link Tue Feb 5, 2013
There are many variables in regard to the value of land. There is no general rule- I would work with an agent that specializes in the sale of land. Depending on the type and location of the land, there might be good recent comparable sales that would be the best indication of value. I have a couple of agents in my office that deal primarily with land and I have learned from them it is a specialty. I would be glad to refer you to one of them if that would be helpful. Best wishes!
Web Reference: http://www.bethannhomes.com
0 votes Thank Flag Link Tue Feb 5, 2013
There are many things that can influence the value of property. You need to can either have a qualified appraisal done which you will pay a fee to have done,or you can get any number of price opinions ( market analysis ) from realtors of your chosing. These agents should be familiar with land in the area that you are needing the information on. They will all have the tools to evaluate the value for you.
0 votes Thank Flag Link Mon Feb 4, 2013
The best price to offer may or may not be what the land was sold for 10 years ago. You should find out what comparable land has sold for in the last 6 months and make your offer based on that.
0 votes Thank Flag Link Mon Feb 4, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer