How do I compare SAME appraised value of 2300 square foot house on one acre in North Stamford to a 2300 square foot condo in downtown Stamford.?

Asked by Patricia Paterna, Branford, CT Sat Mar 12, 2011

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7
Candace Lipi…, Agent, Norwalk, CT
Sun Mar 13, 2011
Exactly, apples to oranges. Can't compare.
Web Reference:  http://candylipirahomes.com
0 votes
Bill Eckler, Agent, Venice, FL
Sun Mar 13, 2011
Patricia,

From your question it appears you are trying to compare apples and oranges......

The best and most accurate comparisons occur when like properties are being compared. In this situation it may be helpful to employ the services of a professional appraiser.

Good luck,

Bill
0 votes
Ruth and Per…, Agent, Los Gatos, CA
Sat Mar 12, 2011
Hi Patricia

A thriving down town has a higher value, associated with the downtown in Stamford which
Is stellar. Land down town is at a premium, hence a 2300 sf home with an care may be worth
The same or less as a 2300 sf home in the down town area.

The best solution is that you get in touch with a good local Realtor and get an Analysis of what has sold
And is Active within three miles of your home and down town for say a period of June 2010 to now.

This should set you on the right track.

A good example and something to consider is why are home in downtown Los Angels or
San Francisco, or New York city more expensive than the suburbs?

Good luck.
Perry
0 votes
Karen Kramer, Agent, Westport, CT
Sat Mar 12, 2011
It would all depend on the different properties themselves. The city is an swesome place. I know that I have a property for sale on 8th street . We have an open house there tomorrow between 1-4. This home has the quiet and trqanquility that you may get in North Stamford with fabulous plantings and a gorgeous weeping Cherry tree in the front. It also has an attached garage. Did I mention this is not a cut through street. So very little trafficThings that you would get in North Stamford.
This street is off of Summer Street, ie close to everything. 92 on the walking chart.. So it offers the best of city living. Did I mention that this colonial has been totally and wonderfully restored. Please factor in that it is on city sewer and uses gas heat. Which is the very best for affordability. The house is amazing. any questions call 203-858-2049, Karen A Kramer
Higgins Group
0 votes
Laura Feghali, Agent, Stamford, CT
Sat Mar 12, 2011
Hello Patricia,
You state the single-family home in N. Stamford on an acre of land has the same appraisal value as a condo in the downtown area of Stamford? More information (such as their addresses) is needed to answer your question correctly but I suspect that the home in N. Stamford needs a lot of work and may be a foreclosure as banks typically price them under market value to encourage multiple bids for a fast sale. The downtown condo may be newer and offer some desirable amenities within the complex. Homes in the downtown area are the preferred area in the city for condominium buyers because of the proximity to the train, I95, and all the amenities that downtown offers.
Hope this is helpful but please, feel free to contact me with the addresses as then I can give you a more accurate answer.
Thank you!

Laura Feghali
Prudential Connecticut Realty
203-536-4802
laurafeghali@prudentialct.com
0 votes
Deb Halsey, Agent, Greenwich, CT
Sat Mar 12, 2011
Appraisal values are estimated by independent licensed appraisers - based on the area, land value, structure and location. Nuances such as the quality of the construction and the value of the land are taken into consideration. Appraisals may be challenged.

If both land and structure are involved - it stands to reason that one may be more weighted for the land, where the other may be more weighted to the building....

The link below will let you search for property valuations....hope this helps
0 votes
Ellen Christ…, Agent, Darien, CT
Sat Mar 12, 2011
Comparing them for what? Two different animals...without more info they are nott comparable.
0 votes
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