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Updated over 5 years ago on . Most recent reply

Matt F.'s profile image
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Matt F.
  • Rental Property Investor
  • from St. Louis, MO
  • Member since Apr 17, 2019
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Matt F.'s profile image
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Matt F.
  • Rental Property Investor
  • from St. Louis, MO
  • Member since Apr 17, 2019
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Matt F.
  • Rental Property Investor
  • St. Louis, MO
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Buying & Selling Real Estate

Driving appraisal value above comps

Matt F.
  • Rental Property Investor
  • St. Louis, MO
Posted

Hi you guys -- how are people driving appraisal values above traditional comps?  I'm seeing this happen -- four family is purchased for $180-$225K and following a very good rehab, appraises/sells for $400-$450K in an area where nothing else has sold for that.  How?

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Caleb Heimsoth
  • Rental Property Investor
  • from Durham, NC
  • Member since Oct 1, 2016
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Caleb Heimsoth
  • Rental Property Investor
  • from Durham, NC
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  • Durham, NC
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Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
Replied

@Matt Ferch. If you rehab something to a condition, where nothing around it has those same conditions, appraisers can pull comps from miles away or the next town over. It happens. Easiest way to figure out what ARV would be is to talk to local appraisers

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