[retiredguy123]

Originally Posted by stevecmo

Sorry but that is just dilusional thinking.

Really? Did you read Post No. 29? A licensed agent has already offered to do a market analysis.

[manaboutown]

Is there a bubble within the bubble?

[Toymeister]

Originally Posted by joelfmi

What these buyer and sells do is cosmetic repairs which are not up to code.

You're talking to me about me and my flip. The total of my work was mowing the lawn, no materials, no improvements. I simply bought a home from someone who based the sale price on an appraisal, I sold it based upon it's value which is what someone would pay. It sold in 2.5 hours for asking. There are lots of opinions on this thread, so far I am the only one that earned tens of thousands of dollars acting on my opinion that appraisals are not necessarily accurate in determining a homes value.

I guess you could say I did more than mow the lawn, I edged it and blew the clippings as well. It wasn't a bad lawn but it needed a mow.

The point here is appraisals are based upon a set of accepted parameters, much like accounting. For appraisals the biggest player established those rules. Fannie Mae set those standards for a safe underwriting of mortgages. All of that is reasonable.

However, we are in an environment where TV homes have risen 21.4% over one year. Comparable sales play the largest factor in an appraisal. Sales six or three months ago lose their respective relevant value in determining what a home is worth to a buyer.

[stevecmo]

Originally Posted by retiredguy123

Really? Did you read Post No. 29? A licensed agent has already offered to do a market analysis.

Really? Did you read Post No. 1? The OP stated that his neighbor was willing to sell the house to him with no agent. There was no indication that an agent was definitely forbidden in the transaction.

Stop trying to read between the lines.

[nn0wheremann]

Originally Posted by Penglobal

Greetings -

I'm a newbie, renting and in the process of looking to buy a pre-owned home. A neighbor on my block has moved away and interested in selling me her home without an agent. The home is perfect for me and I'm trying to determine the right and (FAIR) price to pay the owner. I not trying to steal the house nor am I willing to throw money away.

How can I determine a cash selling price for the home in todays market that's both fair to me and the owner. ? Thanks !

Look up the county assessor’s record, it is free and available. Look for similar homes on real estate sale listings, or hire an appraiser. You will need an appraisal for a loan anyway.

[retiredguy123]

Originally Posted by nn0wheremann

Look up the county assessor’s record, it is free and available. Look for similar homes on real estate sale listings, or hire an appraiser. You will need an appraisal for a loan anyway.

The appraiser for the loan will be selected by the bank, not by you. You cannot use an appraiser that you hire to get the loan approved.