All Forum Posts by: Jordan Stavrev

@Max Geesey Thanks Max. The comps needed work as well. What do you mean by Peanut Butter the cost? 

@Ian Walsh Thanks Ian! 

@Patrick Squires Make sense! Thanks Patrick. 

@Angelo C. That would be fantastic. Please PM me! 

@Evan Licht Thanks buddy!

@Sarah Ziehr Thanks Sarah. Positive on the sqft. 

@Evan Licht Can you explain this to me like I'm 5 please? 

Thanks @Joe Villeneuve!

@Ralph Goicouria  Good to see a friendly face here 

@Angelo C. Can you explain what a regression analysis is and an example of how you did it in regards to my comps? Would love to know. Thanks!

@Joe Villeneuve The comps are within half a mile radius of the subject property within the last 180 days. I adjusted the comps and looked at similar square footage homes within .75 mile radius and adjusted to the last 365 days and there is one comp that that's a 3/2 / 2300 SQ ft (quite outdated) down the street less than half a mile from the subject property that sold for $200,000.

I'm actually a realtor myself I was just asking if I could use the price per square foot however everyone has made good points on here and I won't rely on it. Honestly I think the ARV of the property with what we could do to in regards to repairs would probably be around $235,000. @Kuba F. @Mike H. @John Leavelle @Richard Ball

Hi All! 

I'm an analyzing an REO in a neighborhood in my area and I have a question regarding square footage and calculating ARV. The comps are really small in square footage in comparison to my subject property so I'm having trouble analyzing this deal. I will put subject property info at the bottom as well as the supporting comps...maybe you guys can help me out? The subject property looks like it needs about 20K to 30K in repairs.

Subject Property: List Price - $174,000 | Beds: 3 Baths: 2 | Square footage: 2550

Comps (All within the last 180 days within Half a Mile Radius)

Comp  #1: Sold Price - $155,000 | Beds: 3 Baths: 2 | Square footage: 1051 

$104 PER SQ FT

Comp #2 Sold Price - $115,000 | Beds: 3 Baths: 2 | Square footage: 

$113 PER SQFT

Comp #3 Sold Price - $145,000 | Beds: 3 Baths: 2 | Square footage: 1222 

$118 PER SQFT 

Comp #4 Sold Price - $195,000 | Beds: 3 Baths: 2 | Square footage: 1818

$161.57 PER SQ FT

If I average out the price per square foot of all the properties, I have an average of $111 per square foot. 

If I multiply it by the square footage of my 2550 subject property that gives me an ARV of $283,000.

Would an appraiser adjust for the square footage difference this way? Thanks so much for your help in advance!