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nike air zoom pegasus 32 mens different reasons
06-07-2016, 12:24 PM
Post: #1
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nike air zoom pegasus 32 mens different reasons
锘? The other day I had a call from an investor friend who
asked how I determine values in this crazy market. The first thing to do is to
pull the comparable property sales. Comparable property sales are properties
that are as close to the subject property as possible. I know that an appraiser
would say that you could take properties from as far away as a mile but we know
a mile away is a long distance and neighborhoods can change significantly in a
mile. I look for properties as close to the subject property as possible. The
best would be on the same
street <mybb-bad-sm> , block or neighborhood. You want it to be
similar square footage. If you are talking about an 1800 versus a 1900 square
foot house your average buyer is not going to see that hundred foot difference.
If you are talking about between 800 square foot and 900 square foot obviously
your buyer would see the difference between those two houses. There should be
similar bedbath configuration. Similar in age, age is something that is
relative. If we are talking about a ten year difference between a house that was
built in 1996 versus a house built in 2006 then yes buyers would see a big
difference between those two houses. If you are talking about the difference
between a house that was built in 1959 and a house that was built in 1969, still
a ten year difference, your sellers won?t see a difference between those. You
are looking for houses that are essentially the same in your buyer?s eyes. Now
assuming you have
that <mybb-bad-sm> , what are the comparable sales? What are you seeing
that has sold? In this crazy market it is no longer enough to know the value of
the houses that have sold in the last six months. What you now have to do is
look more at what is happening. Look at the trend. Break down those comparables
and find what has been selling each month of the last six months so that you can
see a trend. Yes, six months ago they were selling at this, five months ago they
went to this, four months ago they went to
this <mybb-bad-sm> , and so forth. Instead of just saying overall they are
selling at this level you want to see if they are going down. Are they going up?
Are they staying flat? And if they are going down, at what rate are they going
down? How fast is that decline occurring and is it picking up speed? Is it
slowing down? What is happening with it? I also want to know are there buyers on
the market buying or is the market stalled? My investor friend said there had
been no house sales in the last four months. Well if there have been no house
sales, none,
zero <mybb-bad-sm> , in that area that concerns me. I can take a house
and I can make it the best house out there at a favorable price and I will
attract the buyers that are in the marketplace but if there are no buyers it
really doesn?t matter what I?m doing, I?m not going to get it sold. You have to
look at buyers. If there are no buyers I would definitely not be purchasing that
house right now. If you are seeing an area that nobody is buying in then that
area must be an area of town that nobody wants to live in. Not an area that I
would necessarily want to buy in. Generally, that is not the case. The case
usually is that houses are selling. For instance, there are 200 houses on the
market and in the last 6 months 15 of them sold. Okay? That means 1 out of 10
houses are selling. That just means the market is slow. It doesn?t mean it has
stalled out. Now a slow market I can deal with because I can take those 15
buyers and make my house the most attractive deal to them to get them to focus
on my house. I?m not scared by that. The only thing that scares me off is if
there are no houses selling at all. The next thing is looking at what is listed
on the market in the area today. What?s your competition? And how do those
prices compare to what is sold? In other
words <mybb-bad-sm> , if you look at everything that has sold, it was
$200,000, but everything that is listed on the market right now is at
$180 <mybb-bad-sm> ,000. It tells you that the prices are dropping. Nobody
is going to list their house at $180,000 if realistically you could still get
$200,000. It must mean that they are dropping their price because they are
getting beat up by the marketplace. Which leads to the next question, what are
the days on market? How long have those houses been sitting there? If they are
well under what houses have sold for in the past I?ll bet when you look at the
days on market and how long they?ve been listed they are starting to exceed
60 <mybb-bad-sm> , 90, 120 days. The next thing to look at is how many
rehab dollars is it going to take to make the house the nicest house in your
price range. I am not saying to go crazy in your rehab and build a palace when
everything is on a lower income level. That?s not the point at all. The point is
to make it the nicest house in that area. Sometimes making it the nicest house
simply means that it has brand new carpet, paint, fresh
landscaping <mybb-bad-sm> , just looks all clean and fresh. Then I want to be
able to price it right. The next thing is to be able to determine how long it is
going to take to get this house on the market given the rehab needed. Is it
going to take me a month to get it back on the market? Is it going to take me
six months or more? The further out obviously the more risk there is. That is
why right now most renovators are looking for properties with minimal amounts of
rehab so they can get in, get out and not risk being in the marketplace too
long. What you want to do is project out when this house be on the market and
figure out what the prices will be at that point. If they have been declining at
a rate of 2% per month and you are not able to put this property back on the
market for three more months, then estimate a 6% decline on the market. Given
that this is going to be the estimated value of the property at that point. You
will build into your deal the right sale?s price and the right rehab dollars so
you are buying smart. If you buy with your pr锘.

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