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Is my agent's CMA actually undervaluing my home, or am I overestimating it?

I recently interviewed the agent who helped me purchase my home about listing it for sale, and I am troubled by the comparative market analysis she provided. The comparable sales were seven to thirteen months old and considerably smaller than my property, with roughly half the lot size. Her suggested price sits at the low end of that inferior set despite the improvements I've made. Is it reasonable to expect a CMA to weigh lot size and condition more heavily, or am I misunderstanding how comparables are chosen?

4 Answers

Is there any way around the $250k capital gains exclusion on a house we've had since 1998?

We bought our house in 1998 for under 200k and its worth close to 1.8 million now, so the 250k per person exclusion barely makes a dent and we'd owe a massive tax bill if we sold. Is there any realistic strategy, like a 1031 or some other move, that could actually help us sell without getting crushed, or are we just stuck waiting for the law to change?

6 Answers

How Do I Auction My Property?

I want to sell my house rather quickly and was told that you can sell it quickly by "auctioning" it? Anyone know what this means?

10 Answers

Is it worth waiting a year to buy in Delray, or is the market not really going anywhere?

We've been looking in Delray and Boynton since the fall, mostly $600-650k single family. My coworker keeps telling me to hold off because prices are going to drop once rates come down. But everything I'm seeing says prices are basically flat, maybe up 1% or so, and inventory has actually been tightening this spring.nnFeels like waiting a year gets me the same house at the same price, just with more competition. Am I missing something?nnAlso, a place we liked at $585k came back with an insurance quote around $7,800 a year, which wrecked our monthly number. Is that normal now or should I be shopping that harder?nnAppreciate any honest takes.

7 Answers

Why is my property tax estimate more than double what the sellers are paying on the same house?

Under contract on a place in Boynton, $585k, closing next month. The current owners pay about $4,100 a year in taxes and I assumed we'd be in that ballpark. Lender's estimate came back at almost $9,800 and I thought it was a mistake.nnI think it's because they've owned since 2011 and have that cap, and ours resets to full market value when we close? Nobody mentioned this to us until the estimate showed up.nnIs $9,800 actually realistic for Boynton at that price, and how do I get the real number instead of the lender's guess? Also does the homestead exemption kick in the year we close or the year after?

9 Answers

Im looking for a loan for a manufactured home

Hi i am looking to buy a manufactured house in a 55+ community in port orange Fla. The name of the community is maplewood estates and I am approved for a unit that was totally renovated. The purchase price is $82,500 and I am putting $50,000 down and I am looking to take a $25,000 loan. Thank you

5 Answers

How can I sell my 2/3 of inherited property when the other owner doesn't want to sell

I own 2/3 of inherited property, one sibling doesn't want to sell. That sibling want let me stay there, always changing locks on doors. (Please help me)

5 Answers

Will a 3-week unpaid temporary layoff mess up our mortgage commitment before it expires in January?

My workplace is shutting down for renovations for three unpaid weeks classified as a temporary layoff, and Im worried that gap in pay is going to cause problems with the mortgage commitment we already have locked in before it expires in January.

9 Answers

Will my DTI actually work if I assume my ex's mortgage after our divorce?

so i just got my divorce papers and im trying to assume the mortgage and get my ex off it. payment is kinda a lot for my income but manageable, and i got roommates paying me an extra 2700 a month i didnt count yet. does DTI ever let roommate money count or am i stuck qualifying without it

6 Answers

found out there back taxes on my moms old house and i want to sell it, do i gotta pay it off first or can it come out of

found out there back taxes on my moms old house and i want to sell it. do i gotta pay all that off first or can it just come out of what i sell it for

6 Answers