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Reader Question: Is it proper in valuing residential real estate to adjust the comparable sales value by the “cost” of amenities not present in the comparison properties (i.e. an outbuilding-indoor riding arena)? Fran D. Monty’s Answer: Hello Fran, thanks for…
Continue readingReader Question: My parents have rental properties and are thinking of selling them off to fund retirement. How would you go about evaluating investment property? We know what the house appraised for, but do you somehow figure in the income the…
Continue readingReader Question: My agent wants me to lower my price. The home has been on the market for less than a month for $349,900. She wants it to be $339,900. I cannot go any lower because I have a mortgage…
Continue readingReader Question: I have 39.75 acres off I-40. What is it worth? Mike Monty’s Answer: Hello Mike. I cannot answer the question without walking the land. I-40 is a 2,559 miles long highway. It goes through 8 states; from large…
Continue readingReader Question: If I make an offer, is it binding on the seller until I have a chance to make a higher offer? Can someone else make a higher offer before mine is accepted or rejected? Joe D. Monty’s Answer: Joe, no offer is binding on…
Continue readingReader Question: If a buyer has a contract on a house, home inspection was done and the buyers attorney filed a letter to the seller’s attorney that all work has to be done by the seller and have not received a response…
Continue readingReader Question: We are about to remodel the upstairs bathroom, which is quite small (9 feet x 6 feet). We currently have a 30-inch shower stall, 30-inch by 19-inch vanity, toilet and a small linen closet. There is also an entry door…
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