smithws, Home Owner in Merrick, NY

Short of having an actual appraisal performed how can I determine the fair Market value of our home after hurricane sandy.

Asked by smithws, Merrick, NY Mon Feb 25, 2013

The home is located on the water in South Merrick, NY. The home needs the entire first floor (Famiy Room, Kitchen, dining, bath and Hallway gutted) along with the finished basement.

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Anna M Brocco, Agent, Williston Park, NY
Mon Feb 25, 2013
Invite a few agents from different realty companies and ask for a cma, comparable market analysis; review the data, ask opinions and go from there; cma's are provided free of charge by most agents, or consider hiring a professional appraiser.
1 vote
Frank Failla, Agent, Garden City, NY
Mon Feb 25, 2013

A market valuation would be the first step.

I am a lifelong Merrick resident and a local realtor as well. I would be happy to discuss this with you and set up a time to conduct a preview of the house. I will also supply recent sales trends for the South of Merrick Rd.

Frank Failla
Select-A-Home/island South Realty
324 Merrick Ave
Merrick, NY 11566

0 votes
Thomas Brady, Agent, Plainview, NY
Mon Feb 25, 2013
Hi Smithws, have several agents prepare CMA's for you. As Gail stated below if you don't make the repairs and sell it in it's current condition your buyer pool will be limited and offers will be low. I would also suggest having a few contractors come by and give you estimates, between the CMA and the estimates it should give you a fairly good idea of the value.
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
#1 Listing & Selling Brokerage in NY
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803
0 votes
robert kipnis, Agent, seaford, NY
Mon Feb 25, 2013
By bringing in a local agent familiar with the area you would be best served in getting an accurate estimate. Ultimately the actual price is determined by the buyers willingness to pay.
0 votes
Gail Gladsto…, Agent, 11743, NY
Mon Feb 25, 2013
It sounds as if you are looking for the market value with the house in its present condition. Any Realtor can provide a CMA (current market value) and will do so at no cost to you.

After you have the CMA, you then deduct all of the costs of repairs, which is what a potential buyer will do.

My recommendation is to make the repairs before putting it on the market.

The true market value will be in the eyes of the buyer who will see all the repairs yet to be done and couple that with fear of mold or future damage from the same source....not a good idea.

The value in the mind of the buyer will be extremely low and your buyer market may be limited to contractors and investors.

Feel free to give me a call if you wish to discuss this further. 631-425-6150
0 votes
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