CMA is a good first start, as many have already offered. www.zillow.com is a good jumping off point as well. If one of you will be buying the other out I can be of assistance in refinancing the mortgage. Please visit me athttp:// www.clearskylending.ws for more information.

Mon Jul 14 2008, 15:05

You can search the MLS for free at my website http://reolicensedspecialist.com or email me and I can send you daily or weekly updates on solds in your area. All I need is your criteria: Price, area, features, etc.—and you will get daily or week updates directly from the MLS. I specialize in Foreclosures and I am a real estate broker for over 20 years.

Fri Jun 6 2008, 23:24

Hello Lisa,

A CMA is what you need. What that it is is a comparative market analysis. What we do is prepare comps that look at past sales in your area and also what's on the market now. You mention today's market. It's really not as gloom and doom. We just sold a duplex on Las Palmas in Hollywood last week. It had a total of 5 offers on it. People all want to live in Hollywood. We work in Hollywood as our office is on Wilshire and Fairfax.

Hang in there. If you need any help, let me know. I know of an awseme divorce Attorney if you need one. She'd terrific in court but can also make you laugh when you may feel like crying!

Best,

Monique Carrabba

Tue Mar 18 2008, 00:03

So sorry about your situation. Any Realtor can help you with finding the value of your home.....

Thu Mar 13 2008, 00:13

Lisa
At the risk of annoying some posters, I would like to point out a couple things:
1. Posting on Trulia is supposed to be answers to questions - some posts are more in the "soliciting business" mode, which IMHO is not apprppriate,nor helpful..."I can do this, please call me"

2. The divorce process is very difficult in many ways, dividing the assets is painful emotionally and financially. Due to the market shift there can be a wide range of "estimates of value". Fair Market Value (FMV) is what a willing and able buyer will pay for a property. An appraisal may or may not be the answer.

3. An appraisal is usually based on the closed sales of comparable properties that sold in the last few months. The problem is some cases is that if the market is going down, past sales are not a fair comparison and would tend to overstate the value.

For your purpose I would ask for a "Broker Opinion of Value". This is a service that Realtors can provide, usually at no fee, or a minimal fee. You might want to ask for three BPOs (which is the same system that Lenders use for Short Sales and Foreclosures). The danger here is that some agents will try to "buy the listing", meaning that they will offer an "optimistic" value in hopes of the highest value being the winning bid.

I have seen some very sad outcomes when, in a declining market" unrealistic expectations are set, one spouse planning to sqeeze every dime out of the property, the other planning to give it away to the other receives zero.

You might want to approach this a couple of different ways:
1. If you absolutely need whatever cash is available now, then prepare the property for market and price accordingly.
2. If you can afford to wait (this could be years), then you could negotiate a pro-rated schedule. There may be other assets that could be distributed that have not suffered the decline in value that real estate has seen. It may be that one spouse wants to the property, so rather than forcing the sale in a down market, figure out another way to distribute the same dollar value.

Lastly, divorce is one of the main reasons that people sell. In this market it is not the best time to sell, however if you must, my suggestion is sooner is probably better than later....unless you want to wait much later.

I hope this is helpful.

Wed Mar 12 2008, 21:37

sorry...last line should read, if you would like further information!

Wed Mar 12 2008, 20:11

Hi Lisa,

Sorry to hear about your divorce...if you are on ok terms with your husband, I think the best way to find out is to have a realtor give you a market analysis. Appraisers aren't always using the same criteria that realtors do, and realtors work with figures based on getting the home sold. Even if you aren't going to sell, a realtor will provide you with "true market value". You could also have 2 realtors give you an analysis, one that you have chosen and feel comfortable with and one that your husband has chosen. Even if you one of you chooses to stay in the home, you both will need to agree on what the "true market value" is, and will both need to be in agreement as to how you have arrived at that figure.

Feel free to call me or email me if you like further information.

Best of luck!

Jodie

Wed Mar 12 2008, 20:09

I recommend an independent, mutually agreed upon appraiser. Alternatively your attorney can recommend an appraiser and the other party may also decide to order an appraisal. Consulting a real estate agent may very well be helpful in the process as well, getting you in the right ballpark and informing you as to current market conditions to inform your decisions and negotiations.

Tue Mar 11 2008, 22:51

Hi, Lisa. I'm so sorry to hear what you are going through. Someone very close to me has been going through the same thing so I know it is a difficult time.

My team is in Studio City, but we also work in Hollywood and all three have lived in Hollywood so we know the area well. I will be happy to give you a comparative market analysis free of charge - no obligation to help you through this trying time.

All my best,
Dot Chance
The Chance Team
Keller Williams Realty Studio City

Tue Mar 11 2008, 21:02

Lisa,
Im so sorry about what you are going through right now. I have been through the experience. I want to offer you some home and positivity...time will help you see the light at the end of the tunnel.
As far as your family home is concerned, our office specializes in Divorce and Real Estate. Selling is not always the only option. We work in the Hollywood Hills, Los Feliz, Silverlake, areas and together with your attorney we can work out the best solution for all parties involved. Please visit our website, under the dicorce and real estate tab, to read more about how we can help! www.MyLARealEstateGroup.com We too had similar issues and faced idential problems...
Here are a couple of ways to find out your home's worth, (often times coming to this agreement between the couple is a difficult starting point).

An appraiser from the LA Real Estate Group can visit your property and officially appraise your property's worth. This is usually the court's system of giving actual value to a property.Often times, attorneys request an appraisal to be performed before any type of action is taken. This type of service involves a separate fee. (Ranges between $300-$400).

A consultant from the LA Real Estate Group can provide all the involved parties (including attorneys) with a Comprehensive Market Analysis (CMA). A CMAincludes comparables that are currently listed, as well as comparables from properties that were currently sold, providing a fairly accurate view of the market in your specific area.This can be done as part of your consultation with our realtors at no cost.

Use the tax-assessed value. This method does not provide the most accurate value of your property and is rarely used in legalities since the value of the property is generally much lower. This method is not recommended.
Once property's value has been established, the next step is for the involved parties to discuss various options.

Hope this gives you a starting point.
Good Luck to you both!
Lou & Alex
LA Real Estate Group
info@MyLARealEstateGroup.com
www.MyLARealEstateGroup.com

Tue Mar 11 2008, 17:10

Sean is right, call a local Realtor who is very familiar with your area...they can email or send you a CMA or even discuss on the phone the approximate value. It's best if you can have someone come by and see the house to give you an even better idea of what it might sell for.

Tue Mar 11 2008, 17:07

Lisa, call a real estate agent and ask them to do a comparable market analysis (its free) It would be the quickest and easiest. sorry about your situation

Tue Mar 11 2008, 17:03