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.
One year later and back to the same house...
November 5th, 2009 at 07:28 pm
November 5th, 2009 at 09:22 pm 1257456173
November 6th, 2009 at 03:25 am 1257477956
November 6th, 2009 at 01:37 pm 1257514673
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.
November 19th, 2009 at 04:58 pm 1258649938