What is a fair asking price? We are preparing to sell our parents' home in Sheepshead Bay area.

Asked by Dn, Brooklyn, NY Sun Jul 15, 2012

Less than 5 minute walk to subway and VERY close to Belt Parkway.
Structure is brick. House is 2 family and needs interior cosmetic work.
Four rooms upstairs.
Five 1/2 rooms (small sitting area) downstairs.
Good rental potential.

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29
Thomas Brady, Agent, Plainview, NY
Sun Jul 15, 2012
You need to have several agent's come in and prepare free CMA's for you. You should get a good feel for the market value in looking through the CMA's and comparing which comparable properties were used in regards to your home.
Tom Brady SFR, e-Pro, SRES, GREEN, BPOR
Licensed Real Estate Salesperson
Notary Public, Ret. NYPD Lt.
631-682-8660
Tom@BradyFamilyRealty.com
http://www.BradyFamilyRealty.com
"We treat you like family!"
Charles Rutenberg Realty, Inc.
255 Executive Plaza - Suite 104
Plainview, New York 11803
1 vote
Mitchell Fel…, Agent, Brooklyn, NY
Sun Jul 15, 2012
Dear Dn:

Two family homes in Sheepshead Bay are a hot commodity in today's market. The best way to determine a fair asking price would be to do a comparable market analysis (CMA). This is done by looking at comparable homes that have sold in the area recently along with homes that are presently for sale. You then have to compare size, condition and location to your property to the others and then you can come up with an estimate of your homes value.

Most people do not have the ability to do a CMA themselves because it is hard to be objective when dealing with your own home. Hence, most homeowners have a professional real estate in the area do it for them. Most real estate agents will do this free of charge so you have nothing to lose. In addition to that, a good real estate in your area will have viewed the sold and/or homes that are for sale in the neighborhood thus can provide a more accurate comparison.

My suggestion would be for you to have a real estate agent come by your parents home and meet with you. The agent will prepare and bring the CMA with them to review after looking at the interior of your home. Once you have an idea of how much the fair market value is, you can price your house according to that and your own personal goals you want to achieve.

Is your home a legal two family? Do you have a certificate of occupancy? Do you know all the expenses you will incur when you sell? If you do not know the answers to all these questions I can help you find/get the answers because they are important to know when selling a home.

My office is located on Avenue R right off Nostrand Avenue and we specialize in the Sheepshead Bay area. I have been selling real estate in the area full time since 1993. Please contact me as I am fully qualified to help you and would love the opportunity to do so. Either way, good luck!!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
1 vote
Laura Lombar…, Agent, staten island, NY
Sun Mar 3, 2013
Have you listed your parents house .....if not I would like the opportunity to preview it and sell it.
0 votes
Rhonda Holt, Agent, New York, NY
Thu Oct 4, 2012
Hello, in order to get a fair market value for your home I would have to come in and see the actual location in Sheepshead Bay, the condition and the layout of the property for myself in order to give an accurate evaluation.

Feel free to contact me.
0 votes
Patricia Ben…, Agent, Brooklyn, NY
Tue Sep 4, 2012
Dn,

Nobody can tell you unless they see the property, and get a comprehensive market appraisal done for you. Every house is different, but it must be seen in person by a person in the real estate business. Some realtors will tell you what you want to hear, some will back up their estimate with what has been sold in the area in the last 6 months for properties equivalent to yours. Facts and a knowledgeable real estate agent together are your best bet.

Pat
917-836-2621
Ben Bay Realty Co. of Bay Ridge
0 votes
Fajardo Dela…, Agent, Flushing, NY
Thu Aug 16, 2012
Dn
I have sold my share of listing in the Queens and Brooklyn area.
But the calls are coming in and the requests are so many that I need
to show more of them. I would love to have your Home in my inventory
for sale. I just need a few seconds to sit with you and discuses a plan
that will work for both of us. Please just give me a call as soon as you can.
fast results..

Fajardo Delacruz
Licensed Real estate Agent
Century Homes Realty Group llc
Direct Line: 347-932-0609
0 votes
Don Tepper, Agent, Burke, VA
Sun Jul 22, 2012
And now let me throw a lit match into the gasoline.

The last thing you should care about is a "fair" asking price. Fair to whom? I assume you want to get the most from the sale without putting too much effort into rehab. That's fine; that's where most children are coming from when selling their parents' home.

One thing you should look at is whether it makes more sense to sell "as is," whether to do minor cosmetic fix-ups (new paint, carpet, etc.), or whether to spend a bit more and really rehab the property. My sister and I faced a similar question recently. We analyzed the situation--the housing market, the work that needed to be done, etc.--and decided that, for us going the rehab route (new kitchen, new baths, new flooring throughout, and more) made the most sense. Frankly, though, in most cases the "best" answer is the minor cosmetic work. That's where you'll usually get the biggest bang for the buck, and without investing half a year of your life into it.

But back to "fair." Once you analyze the numbers, figure out what makes most sense to you. Then price it where you'll get the greatest return with a reasonably quick sale. (My sister and I priced the house we did slightly under the market and got a contract in 2 days.) If you for a moment want to be "fair" to buyers--with all due respect, forget it. You work the numbers, you develop your strategy, and you sell at a number that makes the most sense to you.

Hope that helps.
0 votes
Julie Thum, Agent, Brooklyn, NY
Sun Jul 22, 2012
Good afternoon Dn. Thank you for your question. Even with the details you have given, any real estate professional shouldn't answer your question until they have gone into the property first. I recently was referred to a seller in Sheepshead Bay who insisted the house was a 2 family, when, after I had done my due diligence, discovered it was in fact a ONE family. Also, the seller wanted to overprice the property by about $75K, which I did not recommend. The house has been on the market for several months & is just NOW at the price I originally recommended. It is not only important for the Realtor to SEE the property in person, but to also do their due diligence as well as price it AHEAD of the market so it will generate multiple bids & sell quickly, which is what I'm confident you would want. Thanks again
0 votes
Mitchell Fel…, Agent, Brooklyn, NY
Fri Jul 20, 2012
Dear DN:

FYI...

If you forward me your emaiI address I will put together a report of all the 2 family homes like yours that sold in Sheepshead Bay during the past six months. I can also send you a list of all the 2 family homes in Sheepshead Bay that are currently for sale.

Sincerely,
Mitchell Feldman
Associate Broker / Director of Sales
Madison Estates & Properties, Inc.
(917) 805-0783
Email: MFeldman@MadisonEstates.com
0 votes
Luke Constan…, Agent, Brooklyn, NY
Fri Jul 20, 2012
Wow... You got all kinds of different answers! IBecause you asked a question here, I feel you are someone who just wants to do the right thing and have this done the right way... i understand.
Read this, it should help you understand the process better:


http://activerain.com/blogsview/3356904/what-is-my-home-worth-now-


If you need someone to explain the selling process to you, and make it as painless as possible, give me a call... Advice is free!

Luke Constantino
Commercial | Residential
REMAX PARK SLOPE
Direct: (212) 300-3919
Lukeconstantino@remax.net
0 votes
Roman Kazach…, Home Owner, Brooklyn, NY
Thu Jul 19, 2012
Brokers welcome.No exclusive agreement contract! Sell and be paid!
you can take this as homework.your payment is depended offer.come to discuss your payment. if you are ready you can come on sunday 6pm-8pm.
thanks.
0 votes
Dan, Home Buyer, Alabama
Thu Jul 19, 2012
RE agents and brokers will tell you what you want to hear(a high list price) only to get your listing and advise you to reduce in 3 months. Low price sells. Get under the market and liquidate.
0 votes
Charles D'al…, Home Buyer, Brooklyn, NY
Mon Jul 16, 2012
Can you please send me the address. Charles@fillmoresbest.com
0 votes
Thomas D'Alc…, Agent, Brooklyn, NY
Mon Jul 16, 2012
I would be happy to give you a complimentary Comparative Market Analysis and give you a price range of what homes sell for in the area. Sheepshead Bay is a hot area right now. You can reach me directly on my cell at 917 544 9091. Also check out my digital marketing strategy at http://www.exittopproperties.com/selling-real-estate-and-homes/

Sincerely,

Thomas D'Alcamo
Licensed Real Estate Associate Broker
0 votes
Roman Kazach…, Home Owner, Brooklyn, NY
Mon Jul 16, 2012
we have very bad experience with brokers.
two pleasant women solved that can eat from two hands or be present on two weddings at the same time,therefore all brokers should know that anybody from you won't acquire an exclusive right to sell our house.you are invited to open house every Wednesday and Sunday from 6 pm to 8 pm.let's talk. I also understand that many of you after this letter will simply disappear.
0 votes
Raisa Beilina, , Brooklyn, NY
Mon Jul 16, 2012
I sell and rent a lot in Sheepshead Bay area.Please call me for a free estimate.
Raisat Beilina,
Real Estate Broker
BNY SUMMIT Realty,
1-917-667-6769.
0 votes
Fajardo Dela…, Agent, Flushing, NY
Sun Jul 15, 2012
I have sold my share of listing in the Queens,Brooklyn and Long Island in
the New York area. But the calls are coming in and the requests are so
many that I need to show more of them. I would love to have work. I just
need a few seconds to sit with you and discuses a plan that will work for
bothof us. Please just give me a call as soon as you can.

Fajardo Delacruz
Licensed Real Estate Agent
Century Homes Realty Group llc
Direct Line: 347-932-0609
0 votes
Madeline Pad…, Agent, Brooklyn, NY
Sun Jul 15, 2012
Hi Dn
please send me your direct email so I can contact you to set up an appointment to view your
home and discuss this privately. without an address and seeing the condtion we cannot give you
a true value. we have many qualified buyers looking to purchase right now and we would love
to work for you to obtain your goal of selling this home.
madelinepadovano@fillmore.com
718-332-8800
347-668-7623
0 votes
Mitchell Fel…, Agent, Brooklyn, NY
Sun Jul 15, 2012
Dear DN:

FYI...

If you forward me your emaiI address I will put together a report of all the 2 family homes like yours that sold in Sheepshead Bay during the past six months. I can also send you a list of all the 2 family homes in Sheepshead Bay that are currently for sale.

Sincerely,
Mitchell Feldman
Associate Broker / Director of Sales
Madison Estates & Properties, Inc.
(917) 805-0783
Email: MFeldman@MadisonEstates.com
0 votes
Kevin Royer, Agent, Brooklyn, NY
Sun Jul 15, 2012
In order to figure out the best price, I would have to do a proper analysis of the property. There are too many variables involved to simply throw out a number. In addition, you have to factor in how long or soon from now you would like to be at the closing. In order to get you the top dollar for the property in the fastest amount of time, I can do a free consultation via phone or email. You can reach me at 212-920-9604 or kevin.royer@cruserealestate.com. I have many qualified buyers that are looking in your area so I know we can make something happen rather quick!
0 votes
Robert Gross, Agent, New York, NY
Sun Jul 15, 2012
cell718.614.1066

ROBERT GROSS
0 votes
Robert Gross, Agent, New York, NY
Sun Jul 15, 2012
I have clients that would like a setup with close commute and possible investment property.

Please reach out so I can view .

Thank you ,

ROBERT GROSS
Skylinegroup Inc.
97 Hoyt Street
Brooklyn NY 11217
718.923.9601
718.14.1066 direct (Cell)
rgross@skylinegroupny.com
0 votes
Terri Vellios, Agent, Campbell, CA
Sun Jul 15, 2012
I always love these types of questions. It's like me asking you; "how much money I have in my pocket"? Without seeing it there is no way for you to know. You would have to guess. Then take it a bit further and I tell you I have two pennies in my pocket. Your response may be it is worth two cents. Then I tell you one is a 1943 copper-alloy penny. Your two cent value just went close to $2 million.

So this leads me to advise you to take the offer from one of your local agents here and invite them into the house so that they can actually see it and give you their opinion of market value based on their experience, what is your ultimate goal, and how it compares to your real estate market.

Have an amazing day!
Web Reference:  http://www.terrivellios.com
0 votes
Roman Kazach…, Home Owner, Brooklyn, NY
Sun Jul 15, 2012
Beautiful single family detached 2 stores,3 br house with full finished basement, 2 full bathrooms, new brand heating and boiler, garage, backyard with huge amazing porch, driveway for 4-5 cars, unique on the block and in general on the market. The house as a museum with multiple expensive changes. A lot of money are invested in the house. The second house in this condition you never find in the Brooklyn. $769000. see http://newyork.craigslist.org/brk/reo/3140844164.html
1934 Haring street bet. Av.S and Av. T
open house: Wend. 6pm-8pm, Sunday. 6pm-8pm
646-732-6049
0 votes
Jick Leung C…, , Brooklyn, NY
Sun Jul 15, 2012
Good afternoon Dn. In economics, we learn about supply and demand. In real estate we learn about location, location and location. The price of a real property is mainly base on the supply and demand of the location plus other features of your property. In order for me to give an down to earth evaluation of your property, I would need more information than what you have given. Please contact me at 917 443 7097 at your convenience to provide needed information to get your free marketing evaluation.
0 votes
What types of clients are interested in Sheepshead Bay property? Having grown up there, I know that there have been many changes in the demographics of the neighborhood. Can one direct marketing towards particularly groups?
Best,
dn
Flag Thu Jul 19, 2012
Michael Afan…, Agent, Brooklyn, NY
Sun Jul 15, 2012
Dear Homeowners, I will be happy to prepare a Free No-obligation Market Evaluation of your property.
Your best source for local Real Estate information is still a local Real Estate professional.
RE/MAX Metro is a Number 1 RE/MAX office in Brooklyn and Staten and I'll be happy to assist you.
Please visit: BrooklynRealEstateInfo.com and fill-out a short questionnaire.

Michael Afanasyev
Broker Associate, ACP
RE/MAX Metro
(718) 715-0879
0 votes
Coldwell Ban…, Agent, New York, NY
Sun Jul 15, 2012
Every home is diferent. A experienced broker or a state certified appraiser may give you a indication of value. Please call Jacob Shayovitz a Licensed Real Estate broker and a NYS Certified Appraiser. 718-627-8800
Web Reference:  http://cbshayovitz.com
0 votes
Charles D'al…, Home Buyer, Brooklyn, NY
Sun Jul 15, 2012
Good afternoon DN, my name is Charles DAlessandro with Fillmore real estate. I would be glad to assist you on creating an asking price for your property to put it on the market . As Salvatore before me has said there's a lot that goes into pricing a home for today's market. I have been selling houses in this area for over 25 years and would be glad to give you a free market price analysis at any time without obligation. If you would like to discuss this with me please contact me anytime. if you have specific questions you can call me at 718-253-9600 extension 206 or you can email me your questions and I would be glad to get back to you thank you and have a great day.
0 votes
Sal Taormina, Agent, Staten Island, NY
Sun Jul 15, 2012
There is a great deal of information that is necessary to access a fair value. Is the house semi, attached or detached. The size of the lot, is there parking and many more questions. If u like, please feel free to call me and i can give you a free market appraisal.
0 votes
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