Should riverfront w/dock property price be set only according to price in same zip code?

Asked by Sandra Sandra, Wilsonville, OR Thu Dec 13, 2012

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Marcus Koss, Agent, Lake Oswego, OR
Thu Dec 13, 2012
Average sale price should have very little impact on the property price, Sandra. The home should be evaluated based upon the condition and attributes of the property. Certainly the area and average sale price of similar homes is going to have an impact, but the price should not be set solely based upon those factors. Having river frontage and a dock is certainly one aspect that is going to increase the value of a particular home. I would love to chat with you more about this subject and can be reached at 503-539-5814 if you have other questions or would like to discuss further!
1 vote
Sandra- Land valuation should be done based upon the factors including location, ability to build on the property, view, property amenities, and other factors. I rarely find Trulia or other website property estimates to be of much value, because they are truly only valuing based upon average sales prices. When my firm lists property we do a thorough analysis and fully explain how we have come to the value of the property and how we would market the land and/or home. I would love to come for a viewing and discuss how my firm and I could be of value to you moving forward. I can be reached via cell at 503-539-5814 or my email, I am looking forward to our conversation!
Flag Fri Dec 14, 2012
Thanks for your answer. Another question: is there anyway to value the land other than trulia estimates or other sales? Would you be interested in viewing; we are not listed at the moment and trying to re-group.
Flag Thu Dec 13, 2012
Craig Loughr…, , Oregon
Fri Dec 14, 2012
The property should be compared to otherwise similar riverfront properties, even if they may not be in Wilsonville.
0 votes
Mary Stewart, Agent, Beaverton, OR
Fri Dec 14, 2012
Sandra, I live and work in Wilsonville and it depends on where the property is located, condition, and the attributes the property has. It would not be based upon an average sales price, although that plays a part in the price as well. I am sure if it is a listed property the listing agent has or should have done a market analysis with some basis on properties in the surrounding area. If I can be of any help to you, please do not hesitate to give me a call, I would be happy to answer any questions you may have and I am very familiar with this area.

Mary Stewart, Principal Broker/Realtor
HomeTrust Real Estate, LLC
0 votes
Lana Lavenba…, Agent, Grants Pass, OR
Thu Dec 13, 2012
I dont know about Wilsonville but if a property is located on the river in Grants Pass area - it would be priced higher than the exact same home not on the river.
0 votes
David Peck, Agent, Portland, OR
Thu Dec 13, 2012
Marcus is correct. Each property needs to be independently evaluated based on it's specific amenities. An average sales price is going to give you just that, an average.

Wilsonville has lower-end, medium, and upper-end neighborhoods. If the property has riverfront, it is likely in an upper-end neighborhood. Because of the river and dock access, it's value is likely to be higher than the property across the street from it.

If you need assistance in evaluating a property value, I can be contacted here at: I'm in Canby and service the Wilsonville area.
0 votes
allan erps,A…, Agent, Pearl River, NY
Thu Dec 13, 2012
In my humble opinion most probably not! This is something that the majority of homes in this area do not have.
0 votes
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