Replacement cost value is not a good indicator of current market value. For example, suppose you paid $500,000 for your home five years ago and subsequently invested $100,000 for a new kitchen. You can only sell it for $600,000 if the current market will bear that price. If similar homes are selling for $550,000, this is what your home is worth.

***

Send a Letter to the Editor for publication.
Send a comment or news tip to our newsroom.
Please include the headline of the story.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top