DeeLight 8 Report post Posted August 24, 2012 Who decides the price per sf of a property? I understand that it is the most concise way to determine fmv for a home. However, I think sometimes a home can still be overpriced for an area or for the amount of inventory available using this formula. Yes? No? Share this post Link to post Share on other sites
<Steve> 82 Report post Posted August 24, 2012 Agree. Even a property that is priced at what's considered market value may still be priced to high for what someone is willing to pay. Share this post Link to post Share on other sites
DeeLight 8 Report post Posted August 24, 2012 or several someones Share this post Link to post Share on other sites
MichaelC 160 Report post Posted August 24, 2012 Who decides the price per sf of a property? The buyer. What someone is willing to pay determines better than everything else what a property is worth.Appraisals, cost per SF, etc are all starting points. From there human emotions take over. 2 Share this post Link to post Share on other sites
<Steve> 82 Report post Posted August 24, 2012 MC hits the hammer right on the head. So for L/Os, selling to the retail buyer and to move houses quickly,Nice Houses in Good Areas work best. Share this post Link to post Share on other sites
<Steve> 82 Report post Posted August 24, 2012 And the opposite can be true. Not basing your business model solely on financing, some maybe willing to pay ABOVE market price. Share this post Link to post Share on other sites
DeeLight 8 Report post Posted August 24, 2012 Who decides the price per sf of a property? The buyer. What someone is willing to pay determines better than everything else what a property is worth.Appraisals, cost per SF, etc are all starting points. From there human emotions take over. Wow, such an interesting learning curve. I am learning so much getting this deal done. So, to me right now it seems that there is little that is black and white---other than if the numbers will work for us to take the deal. But even then there are many roads that lead to the $$$. I smell a payday coming soon Share this post Link to post Share on other sites
DeeLight 8 Report post Posted August 24, 2012 MC hits the hammer right on the head. So for L/Os, selling to the retail buyer and to move houses quickly,Nice Houses in Good Areas work best. Yeah, I am learning that Steve. This one I'm working is that. The only lil challenge is that there is quite of bit in this lil area. It's all good there is a fam for every home . . . I jus gotta find them Share this post Link to post Share on other sites