Question Details

Dyan & Robert…, Both Buyer and Seller in Burnsville, NC

Hello, I am planning on selling my Log Home on 11 and a half acres in Yacney Co. It is private, beautiful

Asked by Dyan & Robert Peterson, Burnsville, NC Wed Apr 16, 2008

views, 4 horse walk in barn, a two story barn that was resently built, a new freshly remolded guest house/vacation rental. There are several other new outbuildings. There are 3 possible building site on the property. This home is 10 min. to Burnsville and only 30 min. to down town Asheville. This is a very unique piece of property and I have know why of getting a comparable on it. I did know what it was worth but because of the ups and downs of real estate I am not sure now what to price it at. Because the new Hwy is comming into Burnsville housing developements are springing up every where. I still have a couple of things that need to be done that are strickly cosmetic. How can I arrive at a asking price? Also, should I take the time to finish these couple of projects?
Thanks so much in advance...
Blessings Be...
Dyan

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From your description of the property, it sounds unique and complex. You could contact a Realtor/Agent to get an estimate of what they think it might sell for. You might be better off contacting an appraiser to have the property appraised for the current fair market value "as is" and "current use". With a new Hwy comming and new developments an appraiser would also be able to determine the "highest and best use" along with the market conditions and trends. An appraiser would also be more able to find valid comparables and make any appropriate and necessary adjustments for differences, calculate depreciation, land value, replacement costs, time adjustments, etc. to arrive at an accurate value for you to determine a selling price and the type of buyer(s) to target. An appraisal would also provide you with an excellent marketing leverage tool for potential buyers. It would be well worth the cost in the long run.
0 votes Thank Flag Link Wed Apr 16, 2008
Dyan,

The best way to arrive at an asking price it to find three Realtors to do a market analysis for you. There is much more involved in a market analysis that just punching in the square footage, acreage, age of home, bedrooms, bathrooms and then seeing what the data tells you. This is especially true for rural property, as none of them are "cookie cutter". You will want someone to look at land use and zoning, the neighborhood, the overall condition and age of your well, septic, roof, building, etc. Is your property zoned for agriculture? There are too many variables in determining the price, and in this market it is the single biggest factor.

Once you have the market analyses done, you will be able to meet with these Realtors and get a feel for the way they work, and decide whether you want to work with them or not. One way to make sure you are getting the best available Realtors is to get a referral from a neutral party. If you like I would be happy to find you three great Realtors to choose from. Feel free to email me at ginger.carney@prurealty.com and we can chat about what your needs and goals are, and what you look for in a person to represent your interests.

Ginger Carney
0 votes Thank Flag Link Wed Apr 16, 2008
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