do you still own the property?
I did not own the property. Does the buyer still own the property? Of course not. They bailed as soon as it started getting ugly. But not without getting a second mortgage first.

do you still own the property?
Qualification
Because the Property Appraiser's office uses actual sale transactions when analyzing property values in utilizing the comparable sales method of valuation (one of the methods used in considering value), it is important that we use only sales that represent an ''arms length'' transaction. That is - a sale of property between a knowledgeable buyer and a knowledgeable seller with no undue influence that may have affected the price.
The sale qualification applied by this office makes no judgement value about the parcel's sale transaction except to say that we will or will not use it in our analysis because the sale price ''may'' have been affected by some other influence besides the fair market price.
For example, a parcel sold by parents to their children ''may'' have been sold for a price lower than the parents could have gotten on the open market. A seller who agrees to finance the sale to the buyer personally is more likely to sell at a higher price than the market because of the extra service, and the buyer more likely to pay more for the same reason. In both of these cases, we would choose not to use these sales for analytical purposes because they may not accurately represent the market.
The various range in pricing is what is making our business not so funn. It is very confusing for a buyer. It also seems that many sellers still have a price based on what they purchased the property at or what they have in it. Unfortunately, short sales and foreclosure are becoming or are the market. We can debate this until the cows come home but the reality is if I am going to throw my money in I want the same or better deal then the last guy. In order to establish a value of the lot you are looking at take a look at solids for the last 3 months. Many appraisers will use the past 6 months but remember you are the buyer. If no sales in the past 3 months, the prices are too high. Also look at actives. The active prices are a good indicator of where the value is headed. If you have competing active listings that are much lower price then the piece you are looking at the seller of the higher price probably falls in the above category. Not a real seller. He may be within time but not yet.
So if we really preferred one of the higher priced lots could my realtor approach the seller with the argument of other active listings' prices being much lower and therefore we are approaching this lot with that in mind? You are right in that I don't want to pay more than the neighbor... or the next guy! There is lien holder approval required on these lots and I understand that can be a lengthy process.
Naturally my realtor will need to give me recent sales. I suspect there won't be a lot to comp. in the last three months... or even six that would match current prices. I am the same as any buyer.... I want to be smart about my investment and feel confident in the transaction.
I appreciate your input and look forward to other opinions... thanks!
On a side note... are you the same surfing enthusiast that writes editorials for the 30-A Review?
So if we really preferred one of the higher priced lots could my realtor approach the seller with the argument of other active listings' prices being much lower and therefore we are approaching this lot with that in mind? You are right in that I don't want to pay more than the neighbor... or the next guy! There is lien holder approval required on these lots and I understand that can be a lengthy process.
Naturally my realtor will need to give me recent sales. I suspect there won't be a lot to comp. in the last three months... or even six that would match current prices. I am the same as any buyer.... I want to be smart about my investment and feel confident in the transaction.
I appreciate your input and look forward to other opinions... thanks!
On a side note... are you the same surfing enthusiast that writes editorials for the 30-A Review?
That's me but keep it on the down low....
You can surely approach the seller with the other comps. Some of the problem is that the lower listing may not have any validity yet. One random short sale may not mean anything yet except for the fact it has been on the market with no offer. As a buyer that would tell me something. With a good agent and patience you should be able to determine a real value of the subject property. From there, that is your offer. If the seller can not sell, move on and find a real seller if you are in the hunt. If the lots are basically equal why are you looking at the higher priced one? Just curious?
Inventory for the same areas.
March, 2005- 854
March, 2006- 2089
March, 2007- 2433
March, 2008- 2505
March, 2009- 2245