How do you determine a homes ARV

Question

How do you determine the ARV on a home preferably without bringing someone else in to do it?

Dev Horn · Answer

Hi Javon Rice - The ARV, or "After-Repaired Value" is most easily determined if comparable homes in the area recently sold. You can compare the price paid for similar homes, and you can also determine the price per square foot that similar homes sold for - then apply that metric to the sq footage of your property.

Point is, the ARV is determined by the market, not by the individual property.

J Scott · Answer

Start here:

http://www.biggerpockets.com/files/user/JasonScott/file/estimating-arv

and here:

http://www.biggerpockets.com/forums/48/topics/77999-finding-comps---faq

If you don't have access to the MLS, you'll likely need to bring someone else in who does.  While you can analyze the data yourself, getting the data requires MLS access.  You can use other systems besides the MLS, but oftentimes the data is 1-3 months behind, as that's how long it takes many counties to get the data recorded in the public records.

Ceasar Blackman · Answer

How much might a typical agent charge to the run the comps for a property ? I have a friend in mind, but worse case scenario if i had to just find one

Clay Huber · Answer

J  Scott nailed this.

Unless you are a licensed agent with access to the MLS yourself, I would say the probabilities of the data you are using leading you down wrong path increase 10-fold.

Lots of information out there, that's not the hard part. The hard part is knowing what information is good, and what is outdated or no longer useful.

If you are not licensed, you really only have two options (assuming you are concerned with data accuracy):

1) Obtain your license.
2) Find an agent and have them run the #'s for you.

How do you determine a homes ARV

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