# Can you estimate the price of a home in 1993, which will sell in 2007-8, for approx. \$330,000? Thank you!

Asked by R. Liss, middlesex, nj, Beechwood section Mon Dec 24, 2007

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Cheng, , 08817
Sat Jun 14, 2008
I know someone bought a 1br 1ba condo in 1993 at \$60,000+ and just sold under attorney review at \$203,000, another 2br 2ba condo in 1993 at \$80,000 and sold months ago at \$269,900. So, I believe something cost \$100,000 in 1993's dollar value may cost \$330,000 in 2008's dollar value.

Due to inflation and us dollar devalued, the us dollar in 1993 worth different from that in 2008; I think this what basic economics course teaches ...
Tom Berg, , 98072
Thu Jun 12, 2008
Frankly, I don't see any relevance in that information. Todays market value is what counts and of course the future value would be nice to know. Historically, houses tend to appreciate about 6% per year. Good luck. Tom
Thu Dec 27, 2007
Yes, you could. Here is the P/T ratio method to compare estimate prices between the past and current. P/T Ratio stands for Price vs Tax. You can easily figure out the P/T ratio of the a home in 1993, and use the P/T ratio of similar home of 2007-8 that has been SOLD, then you can obtain the price of \$330,000 now to be about how much in 1993.

Ideally, you would obtain a list of homes similar to yours with address and sold price, better AR or U, but C is fine for past 6 months, and then continue posting at craigslist.org, but do NOT post your for sale unit. Just leave your number if interested buyers for the area, contact you, then you can show your unit. You may team up with a realtor who may provide you the info, and you can refer unmatched buyers to the realtor. You will be amazed that your home will be sold in just a week or two.

You may use the proven message format as you can see http://cnj.craigslist.org/search/rfs?query=stn+just+sold&…
terryriw53, Agent, Sewell, NJ
Mon Dec 24, 2007
No, you can't because there is no standard formula that will give you this figure. All prices are based on market factors. Essentially what the buyer is (or was back in 1993) willing to pay and the seller is (or was back in 1993) willing to take for a specific piece of property. I'd be interested to know what are you trying to determine. Are you trying to figure out what a current owner would have paid for the property they selling? A REALTOR in your area can look up the property in public records and can give you that information.