Wanna take a stab at what these new comps mean?

[tarheels]

Three neighboring houses beside our rental house (the '80s one in my siggy) are for sale.

One has an ugly exterior but nice enough interior and backs up to a river. It's listed for $8/sq ft more than we paid. Backing up to this river is good and bad: good - gorgeous; bad - flooding. (We don't back to the river - we face it up on a high hill. No view, though.)

One is a house I've been in love with for years. I'd move in and live there forever. It has a pool and is listed for $27/sq ft more than we paid.

One is a hot mess of a foreclosure in dire need of yard work and some TLC. And, oh yeah, it's pink stucco. It's listed for $40/sq ft LESS than we paid for our house.


Do you think it's all a wash for us and our house is still at break even? I'm never sure how appraisers handle foreclosures - it varies by local market custom, right? Not that it matters anyway since we're 6 months into a 3 year lease, but I'd like to think it means good things.

And for your pleasure, pictures of the fabulous house.

[kaylie]

I think what they sell for is more indicative than what they list for. Are there any recent sales that have settled already?

I do love that house. Their molding is to die for.

[tarheels]

Well, yes, I know that's how comps work No, there aren't any sales.

[mmp]

No idea, but I just saved the pictures you posted in a file named, "dreamhouse".
Gorgeous.

[ssmjlm]

It could be a good sign, but will your house value be affected b/c it's been a rental? That would be my only pause.

[kaylie]

Sorry, I didn't mean to phrase it that way! I wasn't sure if appraisers used listing prices in some parts of the country...

I don't think the foreclosure should be a problem since it's a distressed property, unless it's an area where there are a lot of foreclosures.

I've actually been looking at comps in our neighborhood trying to figure out what we'd appraise at and I'm totally stumped. I'm thinking it would be more than what we paid but I'm not certain enough to pull the trigger on a refi yet. It's all so subjective.

[jhawks482]

No idea about comps, but I can see why that's your dream house. It's amazing and has your name all over it!