Using the lone completed sale feels too narrow, but taking three current listings as the market is no better. I am leaning toward a middle course: use the sale as the starting point and let the listings show only how ambitious current sellers are.
The Atlanta country home is a three-bedroom of about 2,100 sq ft, asking $540,000. The interior needs updating, while the setting, daylight and location are the stronger attractions. Buying costs also limit how much room I have for renovation.
I would rather not make a blanket floor-area adjustment. Usable layout, the age and scope of the required work, parking, outdoor space and the precise setting all seem relevant. Any lease length or recurring charge would also need to be aligned with the comparable. Of those differences, I suspect the setting and outdoor space deserve the most weight because they cannot readily be changed. What evidence would you gather to put a sensible range around those adjustments before commissioning a local appraisal?
The Atlanta country home is a three-bedroom of about 2,100 sq ft, asking $540,000. The interior needs updating, while the setting, daylight and location are the stronger attractions. Buying costs also limit how much room I have for renovation.
I would rather not make a blanket floor-area adjustment. Usable layout, the age and scope of the required work, parking, outdoor space and the precise setting all seem relevant. Any lease length or recurring charge would also need to be aligned with the comparable. Of those differences, I suspect the setting and outdoor space deserve the most weight because they cannot readily be changed. What evidence would you gather to put a sensible range around those adjustments before commissioning a local appraisal?