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Home > One year later and back to the same house...

One year later and back to the same house...

November 5th, 2009 at 07:28 pm

I posted a year ago about a house that we were interested in...well, that house still hasn't sold yet and they've lowered the price by $86,000 now. We would still love to move into it but want them to go down another $100,000. It needs a lot of work and DH and I just don't think it is worth more than $250k (they started at $435k and it's down to $349k now).

The house is a 1976 brick rancher that needs a lot of updating from end to end. The location is just to die for -- that's really what is worth the money. The tax value on the property is at $269k. Is there any good way to base a market price on what the tax value is?

Here are some pictures of the backyard --- isn't it beautiful!?? Keep in mind that we live in the middle of the Blue Ridge Mountains so finding a home on such a FLAT lot in the middle of town is nearly impossible. The river is literally the back border of the property and is just wonderful. On the other side of the river is a beautiful golf course -- ahh, location, location, location.

How much would you think we should offer just based on the tax value (and without you even seeing a picture of the actual house yet)?





Oh, and if you are interested... the current owner of the home is an elderly lady. Her sister was the one who built the house and lived in it all these years. Her sister died 3 years ago and left the house to her. It's been vacant for 3 years (it took the lady a long time to clean it out and go through everything)... so it's not like she has to sell it as she has her own home but at the same time she is paying the property taxes and stuff on it so I'm sure she'd like to see it sell. However, based on past conversations with her, she "thinks" the house is worth closer to a million dollars because of its location... um, yeah.

4 Responses to “One year later and back to the same house...”

  1. Ima saver Says:
    1257456173

    Well, my back yard looks a lot like that. I have almost 2 acres with a large creek running along the back of the property line for 450 feet. My home is a 1996 two story 3200 square feet with 2-2 car garages, one of which has an eff. apt. I would sell it for $425,000. I also live in the mountains, so I know how hard it is to find a flat lot.

  2. lizajane Says:
    1257477956

    Sounds like a nice yard and all. How much land is with it?

  3. all4money Says:
    1257514673

    Ima, your house as you've described would easily sell for well over $700k where I live even in this tough economy.

    lizajane, it is only 0.75 acres of land. The key though is that all 0.75 acres is usable --- you can find houses up here that come with lots more acreage but most of that acreage is on mountainsides that you can't play on or build on.

  4. financeaholic Says:
    1258649938

    my dad just sold maybe a half acre of land in WA for 200K. no dwellings on it and it was wild land that had to be cleared first.

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