Determining Market Value in 2020???

[Aaron Macken]

Hey Investors,

I'm looking to make some offers on homes in the Kenosha area pretty soon. One thing I was wondering is how do you all determine the true value of a home when home prices have appreciated drastically this past year? For example, I see some homes that originally sold for $40k, now asking $140k...

Ultimately, I know what to look for when it comes to making sure the property cash flows. I'm just not sure how to determine the true price of a home when the numbers have shifted so much.

What are your thoughts on this?

P.S. if you're in the WI / IL area, feel free to reach out to me and chat, always looking to build my network :)

[Lamont Chen]

@Aaron Macken

If you are working with a local agent you can take a look at homes recently sold in the past 30-90 days. The spring and summer surge should have posted what the sales price wound up being as compared to list price. From there you can see what the active listings should sell at or around.

From there if the numbers make sense for you then you can try to put an offer in.

Good luck!