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Q: (100% tip) Competitive Market Analysis on a property using data from March 2002 ( No Answer,   2 Comments )
Question  
Subject: (100% tip) Competitive Market Analysis on a property using data from March 2002
Category: Business and Money > Accounting
Asked by: feedthemonkey-ga
List Price: $5.00
Posted: 10 Apr 2003 13:30 PDT
Expires: 10 Apr 2003 15:49 PDT
Question ID: 188928
I am looking for a free or inexpensive (under $30) source for data to
do a CMA on a home using data prior to March 2002.

I purchased a home from my parents in March 2002. We came up with a
'ballpark' price then, and I've been paying on a note to them. Now, we
want to come up with a final price. To keep the IRS happy, we must
show competitive market analysis to come up with the price (...lest
they say I paid to little and hit us with the gift tax).

To do a CMA, I will need final price data on 3-5 similar homes sold in
the the 90 days prior to March 1, 2002. These homes must be in my
neighborhood (zip 80206), and be similar to mine in size. My house is
about 1300sf, 3 bed, 1 bath.

I need to adjust house features to make an apples-to-apples
comparison. For example, if a similar house sold in the neighborhood
has two bathrooms, and my house has one, I need to subtract the
'bathroom value' from that home's sales price.
Answer  
There is no answer at this time.

Comments  
Subject: Re: (100% tip) Competitive Market Analysis on a property using data from March 2002
From: aceresearcher-ga on 10 Apr 2003 13:45 PDT
 
Greetings, feedthemonkey!

For the best, accurate, valuation, I recommend a visit to you local
city assessor's office. They can help you figure out which homes in
your area are closest in type to yours and sold around the same time
for a comparison, and this will be far more accurate than a valuation
based on any data that can be found on the web.

Regards,

aceresearcher
Subject: Re: (100% tip) Competitive Market Analysis on a property using data from March 2
From: feedthemonkey-ga on 10 Apr 2003 15:40 PDT
 
Thank you aceresearcher. I'll pull this question off the board.

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