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Subject:
Housing market
Category: Business and Money Asked by: georgiegirl121-ga List Price: $2.00 |
Posted:
16 May 2006 06:05 PDT
Expires: 15 Jun 2006 06:05 PDT Question ID: 729309 |
How can I figure the percentage of increased value of a home 10 years old? |
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There is no answer at this time. |
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Subject:
Re: Housing market
From: jack_of_few_trades-ga on 16 May 2006 06:57 PDT |
I'm not sure if you mean you want to estimate the current value based on this percentage increase... or if you want to calculate the percentage increase based on the current value. If you have the origional purchase price and the current market value (an appraised value or a reasonable estimated value) then: % Increase = (Current Price - Origional Price) / Origional Price If you do not have the current market value and want to estimate it based on the % increase over 10 years then you will need to do market analysis. See how much other homes around your home increased in value over the past 10 years to find a rough estimate. |
Subject:
Re: Housing market
From: myoarin-ga on 17 May 2006 05:28 PDT |
Check out zillow.com Enter the address of the house. You will get an photo map of the area. Click on the property. After a while you will get more information, including a chart showing 12 month price moves. You can click on 10 years, enter the code number shown on the new screen, and then you will get a ten year review of price changes. There are some questions about the sources and validity of this price information, but perhaps it will help you. |
Subject:
Re: Housing market
From: bobrose-ga on 20 May 2006 06:59 PDT |
Go to www.mmamortgage.com/HomePriceIndex.aspx. You will need to know the month and year the property was built or last purchased and the purchase price at that time. After you enter the required information the site will calculate the current value based on information from data on property values nationwide in a database maintained by the Federal Home Loan Mortgage Corporation (Freddie Mac). It will also provide a chart showing the quarterly increase from the last purchase date until now. You determine the percentage of increased value by subtracting the old purchase price from the current value. You then divide that result by the old purchase price. The result is your percent of increased value. Example: Bought in May, 1996, for $100,000. Calculated current value is $150,000. $150,000-100,000=$50,000. $50,000 divided by $100,000= 0.50 or 50%, which is your percent of increased value. Your porperty must be in one of the 160 largest metropolitan areas in the nation for this to work because Freddie Mac does not maintain data on smaller metro areas. |
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