How to determine ARV without comps?

6 Replies

I need some help determining what the ARV on a home would be without comps. I was only able to find houses sold from the early 90s. Apparently there has not been much sold in that area. On Zillow the Zestimate is not provided nor on the bank home value center. Is there any other way I can determine the value of a home without this information? I appreciate any help provided.

Thanks,

Adam 

Contact a local RE Agent who can search through the MLS.

Adam,

 Call up a local realtor and ask if they could help, maybe they would be willing to give you some idea. Zillow is not always your best spot for the answer, but it will give you some idea. one feature that you, and maybe others do not know, instead of searching the property address, put in a search for the town. you will have a nice map of all current homes in the area ( up top you can change preference to show sold homes) but one of the other things you can do is zoom in on the area you are looking at, the closer you zoom, house values near you start to show, this will give you an idea of values in the area.

@Adam Garza

What is your search criteria in terms of area, house size, beds/bath? I would find it hard to believe that no one has purchased a home in 25 years or so unless you are looking in a town of like 100 people or less where every home sits on 20+ acres and has been in the family for generations.

I agree that there should be homes sold in the area. I had my realtor run comps and he said that was all he could find. Maybe I should get a second opinion? 

Calll and ask a local appraiser how he would appraise the home and describe your situation. I have asked this question and most appraisers will help you.

Thank you guys, appreciate all of the help!

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