Lots to love

Is it just me, or is the local real-estate market going slightly crazy? Zillow — yeah, yeah, I know, Zillow — informs me that a house just off the edge of my neighborhood is now renting for $1200 a month.

The inevitable Zestimate on the palatial estate at Surlywood is, of course, risible. At $124,467, it’s down about a thousand from a month ago. And if this place could actually be worth that much, I would have equity actually exceeding the amount left on the house note. Then again, my august insurance vendor, Lloyd’s of Lawton, underwrites it to the tune of $139,000. And the taxman hath declared that property on this here block, without any tedious structures sitting on it, would be worth upwards of $100,000 per acre. I have just over a quarter-acre, so I’m not dazzled by this figure, but hey, I’m not the guy running the real-estate Web site.





3 comments »

  1. ETat »

    7 December 2017 · 7:02 am

    $1200? for a whole house, not for a studio w/o sleeping alcove? HA!
    hahahahahahahaha
    [everything is relative, as usual]

    on a zestimate: only open market knows. they don’t.

  2. fillyjonk »

    7 December 2017 · 7:19 am

    I know my insurer rates my house as being worth far more than I think I could get for it. (At this point, I suspect if I sold it, it would either windup going to a slumlord as rental for the precariously-employed in my town, or it would be a teardown for something grander. Honestly? If I had lots of bucks and patience I’d have some remodeling/structural changes done, but my tolerance for that kind of chaos is as low as my bank account right now)

  3. McGehee »

    7 December 2017 · 7:29 am

    I have to agree with ETat; you can hire an appraiser, but ultimately it’s the level of demand for a property when it’s listed that determines the selling price.

    I see ads on Atlanta TV claiming somebody’s closing sales at more than the asking price, and I think, “If only I owned one of those unicorn ranches!”

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