How much is my aunts house worth??

[Charles Burton]

Hello,

I am an investor in the Atlanta area and I currently have a property in Cleveland I am trying to sell. The problem is I'm having a hard time determining value. We got it appraised for 28k and had it for sale at 23k  but based on the response we've been getting to our advertising that seems to be too high. Without being in the area and having never lived there it's hard for me to determine value

The address is 12016 Cortlett ave, Cleveland Ohio, 44105.

It's a 1,100 sq ft. 2/1 with a good roof and mechanicals. Only work that needs to be done is cosmetic. We're looking to sell as is. We've recently reduced the price to 17,000. Thanks in advance for your help.

[Michaela G.]

An important thing to consider is that the price range will only work for investors with cash and they are looking for a deal. 

Mortgage companies typically don't do loans under 50K, so, an owner-occupant couldn't buy it for themselves, even if they wanted to live there. And those with enough money to buy with cash will likely rather live in another area.

So, that appraisal doesn't mean that much, because investors don't want to pay full market value.