From: edrobertsjr@yahoo.com (Ed Roberts Jr)
Newsgroups: misc.consumers.house
Subject: Re: Fair price for a house with no nearby comparables?
Date: 9 Nov 2004 14:37:15 -0800

"David W."  wrote:
> Estimate the value of the house with the improvements you plan to make 
> (cleaned & painted, new roof, new electric, new plumbing, siding, 
> insulation, etc).
> 
> Estimate the cost of the improvements,
> 
> Subtract the cost of improvemtents from the estimated value after 
> completion.

I will be selling, not buying. Would it make sense to try to predict
what improvements a buyer would want, and their cost, or are there too
many variables across the spectrum of potential buyers?

> Note that if the house has been vacant for 50 years, you'll want to have 
> someone very experienced in old-home renovations inspect it very carefully 
> - it's likely to have lots of issues related to lack of maintenance (water, 
> insects, rot & decay, etc.)

I did have someone experienced in renovations of not quite as old
homes look at it a few years ago, and he was surprised that the house
was in as good condition as it was, considering how long it had been
unoccupied. Visits every summer to patch things up, and the new roof I
mentioned, helped, but it still needs a lot of work, and is due for
more roof work.

Thanks,
Ed