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How To... in 80910 : Real Estate Advice

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Activity 2
Sun May 3, 2009
Brian L. A. Wess answered:
The best and most accurate way to determine your property value is to consult with an appraiser and appraisals generally run around $350 to $450 depending on the appraiser.

While the best comparable property is one that is very similar to your property in age, location, style and build, those can be difficult to find.

Though I am not an appraiser, as a Realtor the criterial I generally use to evaluate a property's market price range are:
*200 Sq Ft larger or smaller (this includes both Total and Finished Square feet) Remember that below grade square footage is almost always valued less (up to 50% or more less) than above ground depending
*3 years older or younger
* For residential properties - within 1 square mile (1/2 Mile radius) the closer the better (Commercial, Ranch, Farm, and Land is different)
*and generally speakling they should have sold within the last 6 months in order to be market relevant.

Once you have found properties that meet those criteria you need to take into account things like # Bedrooms, Baths, Garage Spaces, Lot Size, location etc. and make monetary adjustments for each of those.

Good luck with your research

Best Regards
Brian L. A. Wess
Realtor®, Broker Associate
Residential & Investment Specialist
Pat Newell & Associates, Inc - Metro Brokers
Colorado Springs, CO
Direct: 719-528-6672

Voted "Best Realtor in Colorado Springs 2006 & 2008"
The Independent News Readers Poll: Gold 2006, Silver 2008
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