Tp6575, Other/Just Looking in Lawrence, MA

how much would this house most likely go for?

Asked by Tp6575, Lawrence, MA Fri Jul 17, 2009

there's a house that is not for sale but i am interested in, it has 3-4 beds, 2 baths, and 1,900 square feet and lot size of 5,000 square feet and it was built in 1900's. it has a two car garage and a shed. great curb appeal. its in 01841 zip. a lot of the homes being sold now dont eevn have a functional 1-car garage and have sold for more than 140 thousand

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Hello! I am very familiar with that zip code, I would love to help you and answer any questions you may have. Let me know if I can help!... It might be a good idea to contact a Realtor (like myself) so they can show you comparables in that zip code to give you an idea of the market.
0 votes Thank Flag Link Mon Mar 11, 2013
Contact a real estate agent who knows that zip code. A local realtor is important to use. S/he will be able to tell you what the market price is based on what similar homes have sold for in the past 3-6 months. The realtor may also be able to approach the owners to see if they are interested in selling. Good luck.
0 votes Thank Flag Link Sun Sep 12, 2010
Best thing to do is to find a buyers agent to represent you and they will provide you with a comprehensive Comparative Market Analysis of the home you are looking to purchase.
Web Reference: http://www.thehousewiz.com
0 votes Thank Flag Link Thu Sep 9, 2010
It is hard to tell. Price depends on the condition, location, neighborhood.... South Lawrence(Mount Vernon area) generally higher than north Lawrence and downtown is also high then other places. You can go to MLS or andoverhousing.com to check the recent sale in the neighbor.
0 votes Thank Flag Link Wed Sep 1, 2010
That number is pretty irrelevant. If they’d bought in 2005 or 2006 it might mean more. What have other comparable nearby homes sold for?

Any time I stop and chat with a neighbor or if I’m at a get together with friends. Someone always asks me what either their own house or some other house nearby “would go for”. Sometimes if I am far from the area I practice, the questioner is surprised that I can’t give them a “ball park figure”. We are not computers that can print out a figure in answer to any house people ask about. We have to see the house inside and out for ourselves and research nearby properties that have sold. I know when I list a house the seller would rather I do research and put some thought into the price I give them rather than just pop out a number.
0 votes Thank Flag Link Fri Jul 17, 2009
it was purchased in 1995 for $18,000.
0 votes Thank Flag Link Fri Jul 17, 2009
I agree with Bill's answer. You'd need a local Realtor, familiar with the area, to do a CMA (competitive market analysis) on the property. And, yes, that can be done even if the house is not for sale.

If you're interested in buying it, the first step is the CMA. Then do whatever research you can on the owners' situation. Maybe they're out-of-town owners and using the property as a rental. Maybe the past owners died and the children or relatives inherited the house. Both of those can be very good things when making an offer. Sometimes people are just eager to sell.

Try to investigate the financials. A Realtor can tell you when the house was last sold, and for how much. Or usually you can find that information yourself, often online. Just do an online search for "tax assessor [town name]." If the CMA says the house may be worth $150,000 and the house was last sold for $30,000 in 1980, that's good; there's a lot of equity. On the other hand, if the house was last sold for $225,000 in 2005, that's not so good. There's no equity in the house and the owner wouldn't be able to sell for $150,000 (unless the owner is in financial distress and is willing to do a short sale).

A good Realtor--especially one with an investor "mentality"--can assist you.

Hope that helps.
0 votes Thank Flag Link Fri Jul 17, 2009
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Tp,

Unfortunately, more information is necessary to provide you with a meningful answer. Our recommendation is to be in touch with a local real estate professional for their input.

Considr using additional information by accessing homes sold in this general location. It might reveal some important recently sold comparison properties that help answer your question.


Good luck
The Eckler Team
0 votes Thank Flag Link Fri Jul 17, 2009
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