Asked by Chuck, 22314 • Sun Dec 30, 2007
How can I find the intrinsic value of a home? In the neighborhood that I am looking at, townhomes have been on the market for 90 days or so. These are homes that have been built in the 30â€™s to the 40â€™s have two bedrooms, one to two baths. They are about 1200 sq/ft. The neighborhoods are nice, however they are adjacent to areas in which realtor's are not allowed to discuss out of the Fair Housing Act. Some of these homes were purchased in 2002-2004 or so for about 240K. They are listed now for 480-499K or so. I know its about supply and demand, but I think demand has slacken way off, hence the 90 days on the market, (some are well over 180 days). I would like to know this so I know where realistic negotiations could begin. Is it as simple as taking the price they purchased the place for, add any upgrades, then add 10% each year? Thanks!
Real Estate in Alexandria
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