Market in Loudon, Tennessee

[Benjamin Barredo]

I just got a call from a distressed owner who has a 2/1 in Loudon Tennessee that he's wanting to unload for 50k.

He claims he had a realtor tell him it could sell for 110k. He also claims that he added 2 rooms to it but I doubt that'll stand in a 1200sqft house.

Still, he only owes 40k and I think he's desperate enough to sell for that. I just need to know if I can unload it considering Loudon is on the edge of civilization.

[Roger Poulin]

Try to find comps using the MLS or CRSData (service has a fee, but there is a limited time free eval. Think about the number 10. Find a lot size +/- 10%, home sf +/- 10%, built with in 10 years of your prospect, and within 1/4 mile, same neighborhood is high preferred, and don't cross any major roads. use a minimum of 3 comparable properties, but 5 is much better, 9 is golden. it is best if some are a little big or newer, and others are smaller or older. In small towns this can be a challenge, so you may have use 15 instead of 10, then adjust accordingly.

Good luck.