Market Conditions in Miami>Question Details

Sumei, Home Buyer in Miami, FL

Would like an estimate market price for 5432 SW 127 CT Miami FL 33175 4 Bedrooms 2 Baths 2,000 sqf Pool & Spa Lot 75 x 155 Built in 1972?

Asked by Sumei, Miami, FL Sat Sep 11, 2010

Would like an estimate market price for
5432 SW 127 CT Miami FL 33175
4 Bedrooms 2 Baths 2,000 sqf
Pool & Spa
Lot 75 x 155
Built in 1972, has nice upgrades with permits windows, impact doors etc.
Thank you

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Answers

4
MS-I’s answer
If I was getting 125% mortgage - May be asking price and default after first month. Live in the house for next 5-6 years without rent of mortgage.

If I was getting 100% mortgage - I would buy it for not more than $300K but get $100 k back at closing to buy a new Hummer.

If I was getting 97% (FHA) mortgage - I would pay no more than $250 K but get $50K back at closing to furnish the house and take a cruise.

If I was to put my hard earned money - I would pay no more than $180K. But again, If it was my hard earned money - I would not buy it unless it was for sale at $150K asking price.,

Upgrades ? From Walmart to BJ's
0 votes Thank Flag Link Thu Oct 21, 2010
In order to best determine a value, you need to be aware of comps-- recently sold similar properties in the immediate area, review the data and make a determination--comps are supplied free of charge by most agents--if you don't have an agent, consider the services.
1 vote Thank Flag Link Sun Sep 12, 2010
ValueMap indicates $208K. Appraiser will make adjustments for windows and any upgrades.
1 vote Thank Flag Link Sun Sep 12, 2010
Beware of data generated by site that averages sales data based on sales in your zip code. This could give you a false value indication.
0 votes Thank Flag Link Wed Oct 13, 2010
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