hi. my unit, 62 q st nw #2, has a detached car port with a redone studio on top. how do i factor that into the value of my condo?

Asked by Euroclyde66, Washington, DC Fri May 11, 2012

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Natalie Dean’s answer
Natalie Dean, Agent, ANNAPOLIS, MD
Mon May 14, 2012
Hi Euroclyde66:
The price per square foot is not a cost approach used often in this area for various reasons. However what is more common are the features of your condo such as hardwood, ss appliances, upgraded cabinets, upgraded flooring and lighting package, number of bedrooms and bathrooms, upgraded bathrooms and if the building itself has any amenities. Once that is determined then comparing it against other condos in the area and adding the separate car port as a "income producing" property and determining how much income one could bare from this additional space can help in your valuations.We are missing some details that can really help us value your property. Please in box me for additional information and FREE full blown CMA so you can have a complete understanding of your marketplace.

All the Best!
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Valerie Riggs, Agent, Ellicott City, MD
Fri May 11, 2012
Hello, Value can be calculated by comparing comps of most recently sold in your area within the last 6 months. You should review pictures as well as unique unit ammenities. We need to look the history of what has been done with similar units in the area. This can be pulled through the real estate database and we can review past units and compare your upgrades. This along with tabulating average price per square foot will assist with factoring your value. We specialize in condo's and co-ops in the area. Most recently we have sold units on S street, Kalorama, 18th, etc. We are located in Cleveland Park. Feel free to email me for a specific list of comps for your unit. valerie@bestaddress.com
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Zaza Pasori, Agent, Washington, DC
Fri May 11, 2012
Your best bet is to use price per sq ft approach. I would find out the average price per sq ft in your neighborhood, and multiply that by the size of your studio.

Zaza Pasori | Realty Resource, LLC
Home Office:2722 Connecticut Avenue
NW 72, Washington, DC 20008
Cell:202-412-5221 Office:703-437-5580

Equal Housing Opportunity

Principal Broker: Realty Resource, LLC 715 Tonquin Pl, Leesburg, VA 20176
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