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Condit : Real Estate Advice

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  • Home Buying1
  • Home Selling1
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Activity 2
Fri Jan 25, 2013
John Souerbry answered:
If the property is held in an estate in probate and there are beneficieries other than yourself, I highly recommend you skip talking with an agent at this point and get an appraisal from a licensed appraiser. If the property turns out to be worth more that $2M, perhaps a couple appraisals (we have a business property in downtown Lafayette and I'm surprised how well its held its value). If you are the executor of an estate you have a requirement to to show a realistic value in the IRS Form 706 filing and to receive the highest possible price when you sell. Check with your attorney to see if the Probate Referree has set a value, but still get an appraisal before you start working with an agent. ... more
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Mon Mar 7, 2011
Bob Georgiou answered:

The age of the home is not a good basis for comparison between homes. The price per square foot will not have much meaning by itself as well. For example a Burton Valley home could command $400 per sq ft if it is updated and smaller. A home closer to 680 may not pull $300 and lafayette homes in the Alhambra school district which are newer could pull $300 to $400 but have different algebra altogether. Since the most coveted areas of Lafayette are the older areas, the price/sq ft calculation should be compared locally. ... more
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