I Need Your Opinion Please

By
Real Estate Agent with OwnerLand Realty SAL2006007409

Fellow Realtors-

I would greatly appreciate your thoughts, advice and input on a simple question that I have.

Indian Hill Ohio

I'm going to be listing a home very soon that is located in one of the top rated school districts in Ohio. The home is also located adjacent to a busy retail strip containing various businesses. (literally right behind a strip-center for one example)

I've spoken with the zoning folks and it sounds unlikely the home can be rezoned to commercial and even if it can be, it will be about a 6-month process. (my clients don't want to wait that long)

The home in question is located in is Symmes Township and the school district is, Indian Hill.

Indian Hill Ohio contains some of the most expensive real estate in Ohio. If I'm not mistaken, it IS the highest priced area in Ohio and home to many celebrities and corporate owners.

A few of the most recent residents of Indian Hill Ohio are; Marge Schott (former majority owner of the Cincinnati Reds); Carl Lendner (former owner of Chiquita Banana, Cincinnati Reds, Great American Insurance, United Dairy Farmers and much more); Rock star, Rod Stewart; and many more. 

Many of the homes in Indian Hill sell in the multi-million dollar price range.

Symmes Township is located adjacent to Indian Hill and some of the homes in this area are in Sycamore School district while some of the others are in Indian Hill School district.

The home in question is older, but, in very good condition and sits on a corner lot. (several homes in the area are being purchased, torn down and replaced with brand-new LARGER homes)

My clients are curious about the pros and cons of having an appraisal done before we list their home.

My opinion of the price, based on the size of the home, etc, is about $239,000-$249,000.  

I would greatly appreciate YOUR help!

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Topic:
ActiveRain Community
Location:
Ohio Hamilton County Symmes Township
Tags:
ohio real estate agents
indian hill ohio real estate
indian hill oh homes

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Rainmaker
4,136,621
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Marty, I have had this question before too.   In our area, buyers will pay more than what an appraisal comes in for, so I recommend NOT to get one.  If your market is more stable, that may be a good idea.

Feb 02, 2017 06:27 AM #1
Rainmaker
3,185,029
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

That is a tough question and one we all tackle with from time to time.....again, depends on your market like Joan suggested

Feb 02, 2017 06:34 AM #2
Rainmaker
550,265
Maria Sapio
Keller Williams of Central PA - Carlisle, PA
Real Estate Agent- Carlisle, PA. Mariasapio.com

As Joan Cox shared, each real estate market is unique and there isn't 'one size fits all'... In my particular geographic location some agents are strongly recommending that sellers have an appraisal completed beforehand.

Feb 02, 2017 06:35 AM #3
Rainmaker
261,146
Marty Snyder
OwnerLand Realty - Monroe, OH
PSA, SFR, SRS; Ohio Homes for Sale

I appreciate everyone's comments so far. Another question that I have is, IF the homeowner obtains and pays for an appraisal, wouldn't it be HIS personal property and NOT have to be shared with a buyer? I understand that an FHA appraisal will "stick" with a home for a period of time, but, a personal-generic appraisal would be different than that or at least it seems that it would(?)

Feb 02, 2017 06:45 AM #4
Anonymous
Wendy Weir

Marty, It never hurts to have an appraisal done - you don't have to use it if its not in your favor, but in that case - it will help price the property for the sellers, and your comps will include at least 1 home which backs or sides commercial property anyway!

Feb 06, 2017 07:36 AM #5
Rainmaker
261,146
Marty Snyder
OwnerLand Realty - Monroe, OH
PSA, SFR, SRS; Ohio Homes for Sale

That's exactly what I was thinking, Wendy. Thanks for your input.

Feb 06, 2017 07:49 AM #6
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Rainmaker
261,146

Marty Snyder

PSA, SFR, SRS; Ohio Homes for Sale
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