Agent

Home seller seeks accurate real estate valuation

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

DEAR BOB: About 10 years ago, I bought a nice lot on a top-rated golf course. The community is filled with $500,000 to $1 million homes. Mine is the only unimproved lot fronting on the golf course. Builders wanting to buy my lot often phone me. The area is booming and a large corporation recently announced it plans to build its headquarters nearby. My tax appraisal recently jumped substantially. I will be retiring next spring and plan to sell the lot then. But how can I determine its market value? The developer still owns a few lots nearby but he no longer offers them for sale as he builds spec homes on them before selling. How can I determine my lot value? – June F. DEAR JUNE: Congratulations on making a very smart real estate investment. Disregard the local tax assessor's valuation as it is usually below market value. Purchase Bob Bruss reports online. As a starting point, hire an experienced local professional appraiser who is familiar with the community to evaluate your p...