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Warner, Other/Just Looking in 128 Polaski Avenue,...

What is the value of your Home?

Asked by Warner, 128 Polaski Avenue, Chicopee, MA Wed May 12, 2010

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7
OK, so I'm an educated buyer and I want to buy it.

First, I look at the city's assessor site. You have to start somewhere. Based on that address you are giving, I'm naturally assuming that is your home.

City assesses it right now at 155,600. That figure can fluctuate a bit yearly.

A quick courthouse search shows it was bought many years ago..,so purchase price then doesn't hold much water. I'll leave that out of here, although it is public information :) (I like to check to see if the homeowner owes too much which is why they are selling or looking to sell..and plenty do)

When was the last time you had an appraisal done? If it's anything longer-term (like years ago), chuck that out. It's meaningless now.

So, now I pull up my comp tool and see what's been selling around your home recently and for how much. Basically I want to get an idea and also see if values are holding relative to that assessment. If you were in a high foreclosure neighborhood, the whole game has changed as to what I would likely offer.

Since this home is listed as a 3 bedroom, 1 bath, I want to see other 3/1's. Everything else is irrelevant. I look for sales within the past 6 or so months, and within about a half mile (the closer the better, but I do expand as things warrant)

I find these:
77 AMHERST ST CHICOPEE, MA 01013 - $149,900 (06/30/2010)
100 BEAUMONT AVE CHICOPEE, MA 01013 - $155,000 (06/02/2010)
59 PAJAK ST CHICOPEE, MA 01013 $156,000 (05/26/2010)
42 POPLAR ST CHICOPEE, MA 01013 - $150,000 (04/16/2010)

I then break it down further by the $/square foot. I come up with 163,823 when all is said and done.

What does that mean? In a theoretical perfect transaction, that's the most a buyer would *likely* pay. Of course you can ask for more, or less. Value is always subjective. Furthermore, this is also presuming the home is in fantastic shape overall. If it needs 20,000 in repairs and updates, you'll need to adjust appropriately.

All that took me <20 minutes to do. Piece of cake. Of course, someone else will come up with a different figure...which is why there's never an exact figure, but if you get it within a reasonable range, that's just as good.

Enjoy.
0 votes Thank Flag Link Tue Sep 7, 2010
just looking the current homes in Chicopee that have 3 bedrooms 5 rooms and is under 1100 square feet is UAG 155,617 on market for 88 days The homes sold in the last 6 months average is 154,994 and where on the market for 70 days. Hope this answers your question call me 413-841-9877 if you want more information about your home.
0 votes Thank Flag Link Tue May 18, 2010
I can tell you what its not. Its not what you owe, what you need to net, what you think its worth for sentimental reasons, the assessed value, or what your neighbors house sold for. Its basically what an educated buyer is willing to pay.
0 votes Thank Flag Link Mon May 17, 2010
I am a local realtor with Carlson GMAC I would be glad to give you a free CMA call me at 413-841-9877
0 votes Thank Flag Link Wed May 12, 2010
Don - what I was thinking but then the question should have read, what is the value of MY home?
0 votes Thank Flag Link Wed May 12, 2010
To determine the value of a home, ask a Realtor to do a CMA (comparable market analysis) on the property.
0 votes Thank Flag Link Wed May 12, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Your question doesn't make sense.
0 votes Thank Flag Link Wed May 12, 2010
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