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Prescott Investor Agent vs. Residential Agent

Filed in Prescott, AZ Real Estate by on November 7, 2016 0 Comments • views: 256

Investor Agent vs. Residential Agent

“How to sell a house for more than appraised value”

 

We just closed a transaction with a 100 year old Prescott home that was converted to a 5 plex back in the 1970s. When we were first approached by the owner who wanted to sell the property we did a standard market valuation using the sales approach. Based on that approach the property appeared to be worth about $200,000. However when we looked at the income approach to valuation we found the value to be much higher. This is not a common situation in the Prescott real estate market, but it is our job to find the highest market value for our clients. Because the rents for the property were relatively high, we saw an opportunity to sell for more money. In the end we were able to get $276,000 for a property that other agents told the owner was worth around $200,000.

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We were able to help our client net more money because we understand income properties and how the capitalization rate effects property values. If you would like to talk to the Conners Team about buying or selling income properties, please give us a call at (928)275-2626.

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