Home Selling in 89011>Question Details

Melissa, Both Buyer and Seller in 89011

CAN SOMEONE HELP ME FIND THE MARKET VALUE OF 5185 S DURANGO DR 2, 89147 FOR AROUND THE TIME IT WAS SOLD ON AUG 26, 2009? I WOULD LIKE TO SHORT SALE

Asked by Melissa, 89011 Wed Oct 13, 2010

THIS COMM BLDG. NO REALTOR YET BUT FOR NOW I REALLY NEED THE INFO. PLEASE HELP

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Terry Hunter, MS Economics’ answer
Melissa:
Not sure what the value over a year ago has to do with short selling a commercial building, but it sounds like your first step should be to find a competent local broker to advise you.
Short sales are a complex process, and there are lots of ways to "fall off the tracks". For a start, I am sure you will find the value a year ago is irrelevant to the situation.
I am in California, but attending a conference on short sales and bank-owned properties with some of the best Realtors in North America. I can probably refer you to a competent advisor in your area.
You can contact me at Terry@SurfMLS.com
0 votes Thank Flag Link Wed Oct 20, 2010
Hi Melissa,
On commercial building , we can do the comps. We offen do commercial broker house opinions(BPO) for banks. We also have a full time staff for your short sale process. If you can email us the square footage, type use of the building (office,retail, warehouse).

We would be happy to forward you some comps. Email us at: 702commerical (at) gmail(dot)com
Team Aguilar 702-328-933 five
0 votes Thank Flag Link Wed Oct 20, 2010
Unlike residential properties, commercial properties are valuled in a different way. One thing appraisers (I'm not an appraiser) look for is "highest and best" use of the building and part of the value is in the income the property can make. The appriaser will also look at the direct comps of similar units and may report both methods of value.

When the subject unit was bought as a foreclosure, it appears it was in the middle of price range compared to what others sold for at that time. If you are going to short sale, however, what is important is today's value. There may be a better way than short-selling the property to attain your goal. Let's talk about your options, you can call me at 702-808-9816
0 votes Thank Flag Link Thu Oct 14, 2010
I can help, but there is more involved than just an address. It would be best to discuss the unit and all the options and processes of a short sale. I have a question for you; If you could keep your home, would you? Call 702-303-0040 or email me mitch@mbsrealestateservices.com.
0 votes Thank Flag Link Wed Oct 13, 2010
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