Property Q&A in 48307>Question Details

David, Home Buyer in 48316

what is good price for this property?

Asked by David, 48316 Fri Jan 16, 2009

what is last time it is sold ? and at what price?

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The State Equalized Value (half of the assessed or market value) shown in the Public Records is $155,420 for 2008 down from $168,720 in 2007. This value could be somewhat high as we are in a declining market. It appears that the property sold for $650,000 in 2005, although it was listed as a different address. Other vacant lots about the same size have sold in 2006 for $325,000 and 2007 for $495,000. For more information on comparable sales, please feel to contact me.
0 votes Thank Flag Link Sat Jan 17, 2009
Maureen's answer was as professional and accurate as it could be with the information she was able to review. The mulitple listing service indicates the prroperty sold in 2005 for more than it is currently listed for.

Most professional Realtors would advise you to work in a "Buyer's Agency Relationship" if you want somebody to evaluate comparable properties and negotiate on your behalf. There are ways to structure an offer to assure you do not pay more than market value or below, depending on your investment objectives.

Also, it is difficult to provide you further information without understanding the purpose or use you would want to have in such a property.

If you would like us to address any specific details related to this property or the area in general, don't hesitate to contact.

Kay Pearson
"The Pearson Group"

Search Property Available in Michigan by Map at our website.
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0 votes Thank Flag Link Fri Jan 16, 2009
David, there is really no record of an arm's length sale on the property in the public record database that most Realtors use. It looks like there was a quit claim deed from one relative to another.

I think you would need a buyer's agent to give you an estimation of a good price. Someone needs to look at the property with you and evaluate it against other similar properties.

If you do not have a buyers agent and you would like help with this, please feel free to let me know.

Maureen Francis
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0 votes Thank Flag Link Fri Jan 16, 2009
Maureen Fran…, Real Estate Pro in Birmingham, MI
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