Property Q&A in Novato>Question Details

jrienhart, Home Owner in Novato, CA

What was the fair market value of the house and the land (separately) as of 01/02/12?

Asked by jrienhart, Novato, CA Thu Mar 21, 2013

My father, who owned the property with his wife, died 01/02/12 and we need this info for tax purposes. jrienhart@hotmail.com

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This question was asked from this property: http://www.trulia.com/homes/California/Novato/sold/4925924-2…

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Answers

4
There are many ways to estimate the land value of a home. One way is to look at comparable lot sales in comparable neighborhoods, but these may be difficult if not impossible to find especially in Marin where lot sales are fairly rare. The other main way is to do what your insurance company does which is to figure the replacement cost of the home. It should be stated in your insurance policy. You could also consult a contractor. That number subtracted from the appraised resale value of the property should give you a fair estimate of the actual value that the land is contributing. My condolences for your father and if you have any other questions please feel free to call or email me.

All the best,

Dan Wood
Frank Howard Allen Realtors
415 637-0120
dwood@fhallen.com
http://www.marinsbestrealestate.com
Fax: 415 897-3067
DRE# 1397584
Your referral is the highest compliment you can give me. I will not let you down!
0 votes Thank Flag Link Sun Mar 24, 2013
Hi Mr. Rienhart,

I'm so sorry to hear about your father. I will email you the documents you need to give to your tax advisor. I'm sure you and your family are dealing with a lot and will help you. Obtaining the property information is not a problem for me. Email me at mparedes@fhallen.com.

Warm regards,

Miguel A Paredes III
Top Producer 2012
Presidential Award of Distinction 2013
DRE 01790855
FRANK HOWARD ALLEN REALTORS
Direct 415-233-3235
Office 415-899-9228
0 votes Thank Flag Link Thu Mar 21, 2013
Dear Mr. Rienhart,

I'm very sorry to learn about the loss of your father - a difficult matter, to say the least.

In answer to your real estate question, I live near Yukon Pl... Off Sunset Pkwy on Greenwood Dr. I recently sold two homes on Greenwood w/ similar physical characteristics and both sold over $400k. In addition, another 3BR/2BA home just sold on Leafwood Heights... Closing at $455k.

In my estimation, based on the proximity of your home and it's physical description (minus knowing its "true" condition), I would safely estimate the market value to be between $440k to $460k. Being that Novato's current real estate market continues a trend of shortages of homes, particularly in this price range, it wouldn't surprise me to see such a home selling close to $500k.

Should you wish to seek any additional real estate info, I welcome the opportunity to assist your needs.

Sincerely,

Rod MacDougall
Bradley Real Estate
DRE # 01353902
415.608.0089
0 votes Thank Flag Link Thu Mar 21, 2013
Mr Reinhart,

Based on what I can see from the tax records, and surrounding recent sales, I would say somewhere in the high $300s - mid $400s. I can be more specific if you would like me to actually take a look inside and out. Its certainly a nice neighborhood that might support a higher number if the house was in good condition .
Please feel free to call or email me if you would like some help.
Dino
Alain Pinel Realtors, 415-215-2614
0 votes Thank Flag Link Thu Mar 21, 2013
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