Property Q&A in Roswell>Question Details

Mary Lindner, Other/Just Looking in Roswell, GA

What is this house worth in todays market?

Asked by Mary Lindner, Roswell, GA Fri Apr 3, 2009

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This question is about this property: http://www.trulia.com/homes/Georgia/Roswell/sold/1102700-225…

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4
Mary -

The smart aleck answer is that it's worth what someone is willing to pay for it - and that actually is accurate. I'm an appraiser as well as broker and despite the overall sag in the entire national situation, it's not practical to use national data sources like Case Shiller or Zillow. While good at painting the broadest of pictures they cannot be considered reliable in the micro markets.

SMART data (a program that we use for appraisals) is reliable. But...like any good group of statistical data, it's how you apply it and interpret it. I ran your "neighborhood" not just the community - that section east of 400, south to the river, west to about Steeplechase and south of Old Alabama. We want to get a feel for the area and trends in it. What we see:

07/06 to current (-8%)
07/07 to current (-20%) - 07/07 was the high point median sale for the period
07/08 to current (-3%)
Now, the lowest point on the chart is 01/09 but from then to now we see an increse of 8.49%.

Even with the ability to narrow areas and cut the data, it's going to boil down to a good study of the comps and how they compare to your home. The above data is not required in appraisals (effective 04/09) as the industry recognizes that national data isn't accurate enough.

You have a few comps in the community, including the one under contract right in the immediate area. The range of value for similar homes is around 160-225 with most in the 200 area. The wild cards will be conditon and appeal but that should give you a rough idea.

Drop me a line if you'd like a more detailed opinion.

Hank Miller, SRA, ABR
Associate Broker & Certified Appraiser
Prudential GA Realty
678-428-8276
1 vote Thank Flag Link Fri Apr 3, 2009
Todays, Yesterdays, or Tomorrows.

It's always changing and without specific details it is hard to give an accurate answer.

27 Homes
On Market Beds Baths Age List Price

Averages= 4 2.5 1977 $262,111

This includes homes with and without basements.
0 votes Thank Flag Link Fri Apr 3, 2009
Mary, the latest Case-Shiller report indicates that overall Atlanta is down 14.3% over last year, and prices are estimated to be around Spring, 2001 levels. That should give you the overall picture...but to put a fair value range on your property, one would need to take a look at the home and lot and compare to sold comps. Please let me know if I can be of assistance in evaluating your property further--Jane
Web Reference: http://www.jane-oconnor.com
0 votes Thank Flag Link Fri Apr 3, 2009
Martins Landing is a large subdivision, so without seeing the house it would be tough to come up with an appropriate market value. Please let me know if I can be of further help.

Jolie Abreu, Realtor®
Keller Williams Realty Consultants
(678) 894-4409 Direct
(404) 704-0284 Fax
jolie@helpinghomes.net
http://www.helpinghomes.net
Web Reference: http://www.helpinghomes.net
0 votes Thank Flag Link Fri Apr 3, 2009
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