Comments on: Snohomish County Lot Sales 2nd Quarter 2008 http://www.barnettassociates.net/snohomish-county-lot-sales-2nd-quarter-2008/ Barnett Associates Real Estate, LLC serves the greater Snohomish County region with real estate services for buyers and sellers. Thu, 11 Mar 2010 22:34:10 -0700 hourly 1 By: John Wahl http://www.barnettassociates.net/snohomish-county-lot-sales-2nd-quarter-2008/#comment-922 John Wahl Wed, 30 Jul 2008 17:46:19 +0000 http://www.barnettassociates.net/snohomish-county-lot-sales-2nd-quarter-2008/#comment-922 Kimo, Aldergrove Meadows is a unique plat with the beautiful country setting. Lots in that area have sold in the past for as much in the high two hundred thousand range. So as Toby said it is what someone will pay and normally a custom buyer will pay more than a builder because the builder will typically purchase more than one lot. We don"t have a lot of new recent compareables to say exactly where the value is. So until we have more activity in the immiediate area it is hard to say. I would say the value is somewhere in that low two hundred thousand range for a custom buyer. I hope this helps answer your question. Thank you, John Kimo, Aldergrove Meadows is a unique plat with the beautiful country setting. Lots in that area have sold in the past for as much in the high two hundred thousand range. So as Toby said it is what someone will pay and normally a custom buyer will pay more than a builder because the builder will typically purchase more than one lot. We don”t have a lot of new recent compareables to say exactly where the value is. So until we have more activity in the immiediate area it is hard to say. I would say the value is somewhere in that low two hundred thousand range for a custom buyer. I hope this helps answer your question. Thank you, John

]]> By: Toby Barnett http://www.barnettassociates.net/snohomish-county-lot-sales-2nd-quarter-2008/#comment-921 Toby Barnett Wed, 30 Jul 2008 17:34:49 +0000 http://www.barnettassociates.net/snohomish-county-lot-sales-2nd-quarter-2008/#comment-921 It would be difficult to say without reviewing the property finer detail but it is safe to say the true value is whatever price the property sells for. In this case, Aldergrove Meadows had 1 total sale for $225,000 which seems that was the true value at that time, not six months from now. The lot was more than likely purchased by a custom builder or person looking to build a custom and not a large scale builder. In our office, we have seen appraisals higher that what our professional opinion tells us what the property will sell for. This is based on historic data (which is only a few months old) and not accurate of the current real estate climate. Right now there are so many undeveloped lots that it does not make sense for builders to keep purchasing when they cannot sell current inventory. It would be difficult to say without reviewing the property finer detail but it is safe to say the true value is whatever price the property sells for. In this case, Aldergrove Meadows had 1 total sale for $225,000 which seems that was the true value at that time, not six months from now. The lot was more than likely purchased by a custom builder or person looking to build a custom and not a large scale builder.

In our office, we have seen appraisals higher that what our professional opinion tells us what the property will sell for. This is based on historic data (which is only a few months old) and not accurate of the current real estate climate. Right now there are so many undeveloped lots that it does not make sense for builders to keep purchasing when they cannot sell current inventory.

]]> By: kimo fisher http://www.barnettassociates.net/snohomish-county-lot-sales-2nd-quarter-2008/#comment-920 kimo fisher Wed, 30 Jul 2008 01:17:56 +0000 http://www.barnettassociates.net/snohomish-county-lot-sales-2nd-quarter-2008/#comment-920 What do you think the true value of "Aldergrove Meadows" for the lots? What do you think the true value of “Aldergrove Meadows” for the lots?

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