Wow! Lots of responses.
Within a mile radius of your rental, the sold comps are coming in from $220K on the low end to $270K on the high end. I stayed within a mile radius because that is the indusry standard and appraisal standard.
There were only four sold comparables. In addition, there is only one new comp llsted (one day on the market as of the day of my post) at $300K - it has a pool and spa and has been updated Assuming your property is in average condition, because inventory is low and buyers are still interested (trying to get in before interest rates go up and fall sets in), you should be able to get the higher end pricing for your property, $270K.
Hope that helps!
Keisha Mathews, REALTORÂ®
CDPEÂ®, HRCÂ®, HAFAÂ® Certified
SAR Masters Club Member 2012
SAR Masters Club Steering Committee
Mathews & Co. Realty Group
@ Century 21 Landmark Network
(916) 370-1803 cell
From the input from my esteemed colleagues, I think you already have a good idea of how much your property will fetch in today's market.
Just want to share with you though, since this property is a rental, you might want to invest some $ in fixing up the property inside and outside including the landscaping. This will ensure you will get many offers and get the maximum price for your property.
When you put your property on the market, you will get a number of FHA offers, another set of conventional and some others in cash. Since appraisal values are lagging behind, higher offers will not appraise. Make sure that buyers have the cash to pay for the difference. Of course cash offers are the best, but they tend to be lower, especially if they come from investors.
Make sure you get an experienced listing agent who knows how to market the property and are familiar with elk grove.
Bethany real estate and investments
916 230 5250
I just sold a home that is closing escrow this Wednesday that is less than a mile from your rental. It was a 3 bed 2 bath, 1504 sq ft, move in ready condition but dated, and it sold for $230K, or $153 per sq ft. Based on these figures and all things being equal, your home would probably be in the range of $$275K-295K . After viewing your property I could have a better idea of its value.
The market is hot! I had over 20 offers on my listing and almost all of them were over list price
Please feel free to call me at 916_806-6912 to review and discuss a game plan.
Best wishes, Steve
The value is in the 240 to 260 range but as everyone else has said that is depending on condition.
Give me a call and lets meet to review your goals and then get it sold. Thanks.
However, I caution you on selecting a listing agent based on promises that may or may not be fulfilled. (How about if I promised you $350K?...I'd be lying...) I pride myself on having a unique marketing approach, that provides you the best price and terms for the market. I will not share it here but my 2by2 marketing is honed by years of marketing experience outside of real estate.
Condition of the home, and surrounding homes might affect value. If you put a sign in the yard, you'll get offers all day long. There's no inventory!! Buyers will come. But if you want the best price and terms, the smoothest transaction with the best outcome, then you need to interview experienced agents and learn what approach they would use to meet your goals.
Your square footage is 1862. In the current market your home would appraise for about $240,000. I would recommend a list price of $249,000. Id be happy to assist If you need my help, contact me anytime.
You and I both have rentals in that area. My rental is about 1/2 mile away on Melodic and I'm about to put that on the market also. Your house is in a desirable area and in this hot market it should sell for about $145 sq.ft. at the upper end of the market in that area with prices still rising. As of today $141 sq. ft.t is the high sale, but with the investors back in the market the price is whatever they are willing to pay. The fact that your home is a 4br/3ba gives it some extra value. 4 bedrooms in that area are even more valuable because many families in that price range love that area because of the proximity to EG High and Joseph Kerr Middle School. I've lived in the area for 22 years and I've owned a few rentals around the area, all rented by familes with 2 to 3 kids. I have sold homes on Meadowdale, Meadowsweet, Tralee and Melodic and all were to families who bought here because the kids could walk almost everywhere they needed to go. I'd like the opportunity to show you what I can do for you. I'm available 7 days a week and my phones on till about 10pm 916-416-8600. Most everything we would need to do can be handled over the internet with electronic signatures.
Hope you have a wonderful weekend,
Mark Forster, #1 RE/MAX Gold
Contact my office if you would like to schedule an appointment for a true market valuation on your property.
We can also discuss if selling your property makes sense and helps you with financial goals.
I'd prefer to leave your answers off the public forum.