Property Q&A in Titusville>Question Details

Lisa Flores, Home Buyer in New Jersey

what is the appraised value of this house? on cyber homes this house value is $677,000??

Asked by Lisa Flores, New Jersey Thu May 28, 2009

why such a difference?

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This question is about this property: http://www.trulia.com/property/1078188727-416-Pennington-Tit…

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Hi Lisa,

If you are trying to structure an offer in purchasing this property........please check with your realtor.

If you don't have one, you really NEED one , as a buyer in this market.

Valuation is a complicated process & unless one is LOCAL Appraiser or Realtor WITH at least 5 years of experience selling homes in THIS community...........you WILL get wrong information.

An out of area appraiser or an out of area realtor........both would put you on the wrong information track.

If your agent is not knowledgable enough to be able to do so, keep looking till you do.

I will tell you though, simply conducting a market analysis based on recently sold homes, does NOT cut it anymore.

Lastly, we have moved into a very competitive & specific environment in our area for real estate transactions.

I would be very surprised if you found a qualified professional giving away knowledge regarding valuation & pricing, that they have gained over the years , on this Open forum.
Web Reference: http://www.SoldByshalu.com
0 votes Thank Flag Link Fri May 29, 2009
Lisa: None of your business! Appraisals are done for two main purposes: one, for a bank to determine how much mortgage the property can carry and two, for estate valuation. The owner of the appraisal is the party who paid for it. It is not a public record.

What you might be looking for is a Competitive Market Analysis, done, usually at no charge by a Realtor, as an INDUCEMENT to use their services. While drawn from the same records of sales and listings, it is somewhat less formal in applying standard adjustments of amenities. On the other hand, it may contain a more realistic assessment of the local market viability at the moment.

As a Realtor, I would be glad to work one up for you, if you intended to use my services.
1 vote Thank Flag Link Fri May 29, 2009
Lisa:

Well, for starters, I hope that you will not take your hurt feelings out on either Keller Williams or the agent whom your uncle has chosen. I can assure you it is not I.



Now, if you demand an apology, you certainly can have mine. I meant no personal disrespect.



I would say that you might be a little less sensitive, though. My statement was, in fact, absolutely true. You did not pay for a service that is, indeed, a private matter. Therefore, it was not your business but someone else’s. I then went on to explain, as thoroughly as I could, how you might proceed to make the information that you sought exactly your business.



The whole" it's not your business" theme that I used did do what I intended, in a way, which was to make you sit up and take notice. I guess it did. What you seems to have missed was my intention, which I certainly hope was well advised, to explain to you what your business approach should be. You might note that my estimed colleague, Ms. Thuman, has said basically the same thing and that is that you do need to make any plan to purchase property a thoroughgoing business,



I guess (again, just guessing,) that you don't have the wry sense of humor that I was attempting to evoke.



Please don't take it personally, it was intended to be taken in a wry sort of way and I see now that it was more abrupt than some people would like.

Bill Holt
0 votes Thank Flag Link Fri May 29, 2009
Mr. William Leigh Holt

I am the inexperienced buyer who posted this question because i was looking for information to further my education regarding this purchase and a possible bid proposal. I was under the impression that this was a forum for those of us who do not have years of experience in the real estate market to be able to ask questions. You obviously have this experience and knowledge, however you do not seem to have gained any knowledge about customer service, "none of you business" is a rude and unnecessary answer to my query. Although you did answer my question there are several ways in which you could have done it politely. I may not have real estate experience but i do have manners, here are a few choice options for you;
"This information is private and not usually released to the public"
" There are other ways to arrive at a value for the home if you are planning to bid such as a CMA"
"I understand that it may be tempting to try and find an upraisal however this is private information available only to the owner, bank, or estate valuer"

My uncle is listing a luxury home/property with Keller Williams realty in princeton and i will be sure to inform him of your office's reply to my question--for your sake i sure hope you are not his realtor.

Sincerely,
Mrs. Flores (inexperienced buyer)
0 votes Thank Flag Link Fri May 29, 2009
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