Pricing a listing... question?

By
Real Estate Agent with Green Realty Group (808) 388-1485 RS - 53215

So this year is starting off with a bang.  Submitted our first offer for the year and showed property to a client.  No complaints here.  

The question is how does one come up with their listing price?  I know how I do it and maybe I'm missing something.  

Okay, I'll back up a bit... one of the properties I showed was a 2 acre flat lot with no improvements on it.  The property is one of two parcels that were recently purchased (closed a few months ago) total of 8 acres for 1.8M.  All improvements are on the parcel that is not being sold.  The 2 acre portion is listed at 1.3M and raw. 

Mathematically speaking then the listing agent is thinking the value of the property has exponentially risen in value?  (Comparables in the area does not reflect this and in realty the sale of this property brought value down in the neighborhood.)

That 6 acres with improvements; home, stalls, turn out, and arena are worth only $500,000?  (How can that be?)

If any one can shed light on this I'd greatly appreciate it... I'm scratching my head.  

 

 

 

 

 

 

 

 

 

Posted by

Warm Regards-

Mike and Gayle

 

Mike Ramsey Fujita (S) RA SFR, MRP

(808) 630-1828

Gayle Fujita Ramsey (S) RA SFR ePRo

(808) 388-1485

ReHawaii808@gmail.com

Green Realty Group

 

Comments (2)

Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

We have 3.77 acres for sale listed at $385,000 with utilities and it is across from the hospital.  Then again we have 6.29 acres for sale for $3 million that is further north across from the new theaters. Both are great locations.

Jan 06, 2017 08:30 PM
Anonymous
Michael R Fujita RA SFR MRP

Hi Rebecca- I wish your listings were on Oahu, I have buyers looking for land! Best of luck and Happy New Year! Cheers-Mike

Jan 06, 2017 08:38 PM
#2