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Tom Stone
2012 Jun 15, 2:52am
" Actual Value" is a fiction. What's it worth to you? Make an offer or backup offer at that price and see what happens. A home is worth no more and no less than what someone is willing to pay for it in cash, today.
http://www.redfin.com/VA/Fairfax/3713-Randolph-St-22030/home/12027046
I'm thinking about putting an offer in on this short sale, but I think the listed price is too high and I'm not sure if it's worth coming in lower.
Here's the sales data on the house. It's been used as an illegal immigrant rental property since ~2005 from what I can tell. The basement is all boxed up as apartment rooms and the work probably isn't to code. Hasn't been well maintained overall. Needs new kitchen since it was abused to hell (missing cabinet doors, busted appliances, etc.)
Sale Date Sale Price
2/26/2004 $335,000.00
8/26/2004 $450,000.00
7/14/2005 $545,000.00
4/1/2012 $375,000.00
Can someone tell me where the "Actual Value" for the House Value Calculator comes from? Is it based on #bedrooms/baths to determine the rent value/mo?