Violet, Home Owner in Manassas, VA

If a property acquired in Manassas, Virginia in 1996 cost $125,000 what is its current value?

Asked by Violet, Manassas, VA Mon Apr 16, 2012

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Answers

8
There are many variables to your question. Do you know what other homes in the area are selling for? What type of upgrades have you done to the home? Where in Manassas is the home located?

Please feel free to contact me directly and I would be more than happy to provide you a Free Market Analysis for your home.
0 votes Thank Flag Link Thu Apr 19, 2012
Hi Violet. The best way to determine the current value of a property is to compare recent sales activity in the neighborhood for similar properties.

A real estate agent can do this for you and will also be able to explain to you some of the factors involved in determining current value.

If you need a referral for an agent who will do this for you, please let me know.

I will be glad to find a qualified, licensed agent who will provide a free comparable market analysis for you.
0 votes Thank Flag Link Mon Apr 16, 2012
As the others say, it's impossible to tell. It depends on condition, location, and a lot of other variables. The only way to come up with a solid estimate is by having a Realtor do a CMA (competitive market analysis) on your property. That involves comparing your property to other similar nearby properties that have recently sold.

Hope that helps.
0 votes Thank Flag Link Mon Apr 16, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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Violet,

If the property has been well-maintained and upgraded with amenities, it is possible that it could be worth as much as $200,000. On the other hand, if it has not been maintained or abused, it could be worth much less than the original transaction price.

I can provide a current market analysis of your home if you are interested. Please feel free to contact me.
0 votes Thank Flag Link Mon Apr 16, 2012
Violet,
There is no straight answer to your question. It all depends on where the property is, the neighborhood, the upgrades, etc. We look at what sold in the neighborhood in the past 3 months, the general condition of the house. Also, are you referring to market value, or assessed value? The assesed value is determined by the county, and has nothing to do with the market value. Didn't mean to confuse you!
0 votes Thank Flag Link Mon Apr 16, 2012
Hello Violet,
It is also almost impossible to give any kind of accurate valuation information without having an opportunity to see the property to assess the condition and upgrades or improvements that may have been made during your ownership. Although we are seeing a steady improvement in the real estate market in the Northern Virginia region, we are still finding that individual communities or subdivisions are recovering at different levels.
0 votes Thank Flag Link Mon Apr 16, 2012
$182,735.35 per CPI Inflation Calculator

But that does not necessarily mean that is what it will sell for in today's market.
0 votes Thank Flag Link Mon Apr 16, 2012
Hi Violet. It will be impossible to answer that question without knowing the exact address in addition to what you owe left on your mortgage if any. The address is needed to compare similar type of home, i.e detached/townhouse, the liv sq ft. If you owe anything left on your mortgage to determine if it will be a regular sale or short sale.
0 votes Thank Flag Link Mon Apr 16, 2012
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