A client recently asked what his rental property was worth and what the current rental rate would be which is kind of like asking whether he should sell a home or rent a home he has.
Outside and inside curb appeal and overall condition of the property are factors that can add or subtract from the values stated below, but it gives some facts that hopefully were of help to him.
Based on the average cost per sq ft of your competition (Active listings) being $119.075 and your property having 925 sq ft, $110,144.40 is the average listing price for your property. You want to be in the upper half of the listings and the higher the better (shorter DOM). I would suggest a $110,000 negotiable asking price if you have time to wait for it to sell and $100,000 firm if you need to sell it fast. The $100,000 price could be set up to create a buying frenzy hopefully generating competing higher offers.
Based on the average price per sq ft of SOLD's of $107.445, your 925 sq ft property should be actually SOLD for $99,386.63 which would make that price its market value. My job if I were to list it would be to negotiate a much higher SOLD price.
The county appraisal (based on comparable SOLD's) is $104,440 so $99,386.63 is 95.16% of the appraisal price.
If you would like to know how much your property is worth, just ask fro a FREE CMA. I will pull the MLS SOLD prices of your Lawrence Kansas Real Estate or in the surrounding area and compare that with your competition (other homes for sale). You should also visit www.MLSPlease.com to see some of the marketing strategies that no one else uses besides me.
Thanks and "Don't keep me a secret--I'm never too busy for your referrals!"
Rob (FREE Home Warranty with every home you buy or sell through me!!)
Rob Lang, CRS, ABR, ePro, GRI, CFPS Realtor®
Sellers www.MLSPlease.com (Marketing homes to 4 MLS's, to over 100 websites, "Showcase" Realtor.com listing, and virtual tours)
Property Searches www.LetRobDoIt.com
Places for Rent or Lease www.KSLease.com
Blog www.ActiveRain.com/blogs/langrob
Realty Executives, Hedges Real Estate (three convenient locations)
(Serving Lawrence, Eudora, Baldwin, Topeka, Olathe, Tonganoxie, Leavenworth, Kansas City, McLouth, Wellsville, Ottawa, Berryton, Tecumseh, more)
300 Rockfence Place, Lawrence, KS 66049
1037 Vermont, Lawrence, KS 66044
3300 Clinton Parkway Ct., Lawrence, KS 66047
785-393-2274 (cell) 206-339-3199 (fax)
Rob@YouWantHouses.com
