how much more value would this add?

**rxnarunner** · 02-03-2010, 08:17 AM

im a new agent. i have a team leader who is a huge help. i went out on my first listing last nite. here is some info on the house and situation.

they bought their house in April of 05. they have out grown it and want to move fairly quickly. they want to use the tax credit (6500) for the next house. they bought the house for 190k. the comps we pulled show the houses going anywhere between 160k-190k. the one that sold for 190 was nicer and updated and was on the market forever

ok, so they were very disappointed in the comps. last year they were told to list their house anywhere between 209-214k. i explained that the ones going in her area that were similar werent going for that. also one or 2 short sales and as is

they have in their backyard a large garage. the bottom half is great for a mechanic and then there are stairs to the top that used to be a lil apartment/office. cable, phone line, electric, no toilet or plumbing tho. how much value would that add to their property. its apx 10 yrs old.

i hope i explained that properly

**Codythebest** · 02-03-2010, 08:55 AM

You'll have a hard time to have accurate answers in here. Most of us are not familiar in any way with that property and/or area.
Why don't you ask your team leader who bring a huge help?

**Bones** · 02-03-2010, 10:28 AM

I would agree. I am not familiar with the property or area so I am unable to determine market value. However, property values have steadily declined since 2005. If they want to take advantage of the tax credit they are going to have to be aggressive in pricing.

**pit** · 02-05-2010, 02:53 AM

Its difficult to deal with sellers when they bought their property for more than its worth. If they really want to list for 190k you can walk or say we can list at 190k but if it doesnt sell in x weeks we will start reducing it.