Buying of real estate property is a very tricky and risky investment to make, especially if you are not knowledgeable enough about the market, or about the value of your real estate property.
A lot of people do not know exactly how to determine the value of their property, and end up either pricing it too high or too low, something that you would not want to do, especially if you want to be able to make the most out of your investment. People who price their real estate property too high will not be able to sell the property for obvious reasons.
The price of the property should be reflective of its value, which should be determined not according to your personal assessment, but to the assessment of the real estate market. If you do price your real estate property too low, on the other hand, you only end up getting the shorter end of the stick since you are getting less than what you should be getting from your investment.
In order to be able to put the right value over your real estate property, you will need to have a better understanding of the real estate market in order to get the most out of your real estate property.
One basis for determining the value of your real estate property is called the cost or summation approach. This method determines the value of the real estate property by reducing the cost of any improvements that needs to be done on the property from the value of the land of the property. Basically, what this method does is it makes a person decide if whether the cost of modifying the existing home would be cheaper as compared to buying another home which already has those features. This approach, however, may not be the best way to determine the market value of any real estate property since this method has non-market based components, which is most noticeable when their exists a limited demand of a property in the market.
Another way of determining the value of your real estate property is by comparing the price of similar properties that are being sold in the market with your own existing property. You get the sales prices of the properties that are similar to your own, and you take into considerations the differences that are comparable between the two properties in order to determine the fair market value of your property. However, this type of method is only effective if there are good comparable sales that exist.
If the property’s current rental value and passing income are known, then the property value would be easily determined as well, just as long as the market-determined equivalent yield of the property is present. Also, certain factors, such as the revitalization or rehabilitation of a particular area can also affect the sales prices of such properties.
Determining the value of your real estate property can be very difficult to do, especially if you have very limited to no knowledge and experience about the real estate market. One good way of being able to make sure that you give the appropriate value to your real estate property is by hiring the expertise of professionals.
Vanessa Arellano Doctor
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how to make money from real estate properties?I try to be an investor,and followed the real estate textbook,but it is still hard to make money,sometime lost money,I just have 100,000 to run it.anybody have good skill to share with me?the key point is it is so hard to find property with good price,and easy to resale.
I would guess computers, final answer.
My thinking would be the opposite. As the dollar weakens, interest rates spike. Interest rates have an indirect relationship with property values, so property values fall during periods of high federal funds rates. Look back to late 1970's, early 1980's when the real estate market was at its worst – their were astronomical interest rates. Now consider 2005, when interest rates were at their lowest, real estate values soared. Now that rates are increasing once again, property values are beginning to deflate.
A lot depends on how much you'll be financing and also what type of real estate investments you'll be making. Many people that get involved in real estate get themselves overextended during the times of high property values, and lose everything when those values fall. Be careful, especially right now.
oh my god me too at least until last year when i moved to miami now im homesick
In most cases, when you own a condo you do not own any land. The land the condo sits on is owned by the association (or whatever it's called in your state). Since you own a structure (the condo itself) but no land, your basis is the entire FMV of the condo without taking out the land value.
posto meraviglioso,
My cousin went there approx 5-6yrs ago…ended up moving there, got married there…on 7 mile beach, they bought a condo on 7 mile beach and they’re still there to this day!!
I love this video! The property is very beautiful! It could possibly be sold to a celebrity!
Beautiful beaches, modern lifestyle on a Caribbean island, but expensive to live there unless you make over $100, 000CI a year ($130,000USD).
This is definitely unethical practice, if not downright illegal. Of course the lender would have to approve a shortfall of $400K if this were to occur. Does this woman have the approval of the lender to go forward with this price figure ? What will this woman do if someone ELSE offers the stated price ? Or MORE than the stated price ?
If I were that realtor, I'd cancel that listing, and FAST. He doesn't need to be involved with loan fraud.
For federal purposes, the living/grantor trust was not yet a trust. It became a trust on the date of death and the trust inherited it's assigned assets at the fair market value on the date of death. The trust can sell the house and use the step-up basis. If the trust sells the house, the sale is reported on the 1041 for the trust.
If the trust was IRREVOCABLE, then the story would be different as the trust wouldn't get a stepup and even if it transferred the house to someone, neither would they.
And we're doing your home work, why?
I believe the answer is C, $9,000,000. You can only depreciate the cost of the improvement (the building) not the land. The additional information about what the value will be in 5 years is not necessary, it has no bearing. It's what you pay for the property initially.
i live there
hmmm i want to win the lotto….
what state do you live in? that's important information to know in order to determine what percent, if any, you will be taxed for capital gains. from my experience as a real estate office manager/agent, you have to have lived on the property, as your PRIMARY RESIDENCE, for 2 of the last 5 years (do not have to be consecutive years) in order to avoid paying capital gains. otherwise, you will be paying capital gains on the property. email me if you have any other questions. hope this helps!
if its a British overseas territory does that mean you can just go buy a house there and live there as its part of the uk?
@teewoods Bermuda is smaller than cayman…. but hella beautiful nonetheless.