This is the second (and last) post in a little mini series explaining how we calculated the updated market value of the duplex we bought for $50K. Here’s the outline of this little series in case you want to start at the beginning.
Part 1 – Finding Comps & Calculating the Value from Price/Sqft [...]
Until recently, we’ve been carrying the duplex on our balance sheet at a market valuation of $70K. But a couple of weeks ago, we updated our October 2012 Balance Sheet and revised the duplex’s value to $97K because we updated the market comparable sales. The next two posts are the explanation for that update. Consider [...]
Waaah! Waah! Can’t I just cut out all this hard work and use Zillow?
As you saw in the example in Part 2 in this series (Determining a Home’s Value), finding good comparable homes can take a bit of time, and performing the calculations can often require some level of estimation if you aren’t [...]
Comps-lets do this thing!
Since we’re looking for comparable sales to our home, let’s start by describing the PoP Family home.
Our house is a 3 bed/2 bath home with 1,110 sqft of living space. It was built in 1985 and has a 1.5 car attached garage. (Yes, 1.5 car garages exist, but just [...]
What on Earth is a Comp?
When your house is one of your biggest assets, it’s hard to know where you stand financially unless you have some idea of what it is worth. The main problem with that is that, with real estate, you can never really be sure of how much a home is [...]