Market Value and Property Manager

Viewing 5 posts - 1 through 5 (of 5 total)

Arnaldo
Participant
@arnaldo
Join Date: 2001
Post Count: 6
February 11, 2003 - 5:34 am
Hi everyone!
I got two unrelated questions:
1. When people say Market Value, e.g. “buy a property below Market value”, does this mean below the median price of the area? or have the property valued and buy it below that?
2. Does anyone use a property manager? I need some advice on selecting one. What makes a good property manager?
Thanks []
Arnaldo
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
February 11, 2003 - 6:25 am
MV in your question refers to the individual property. So as to buy below MV, it’s below the valuation of THAT property []
thyde
Member
@thyde
Join Date: 2003
Post Count: 5
February 11, 2003 - 12:37 pm
Being a cynic . It generally means “below their pumped up valuer they have got a friendly valuer to produce”
If it was below market value – why would they sell it?
Ty
TheB
Member
@theb
Join Date: 2002
Post Count: 135
February 11, 2003 - 10:03 pm
Ty
due to a “plethora” (isn’t that a great word) of reasons:
- transfer interstate
- death
- sickness
- separation
- financial woes
- divorce
- YOUR great negotiation skills
  i.e. TERMS
especially don’t discount the last one. If you are going with the ‘triple win’ philosophy (Vendor, Purchaser & Agent all walk away happy) it is amazing what you can achieve.
cheerio
the Bruce []
Steve McKnight
Keymaster
@stevemcknight
Join Date: 2001
Post Count: 1,763
February 12, 2003 - 12:54 am
Hi,
I’m in the modd to answer a few questions…
quote:
1. When people say Market Value, e.g. “buy a property below Market value”, does this mean below the median price of the area? or have the property valued and buy it below that?
Market value is generally an expression of an unquantifiable figure of what similar properties are being sold for in the current market. I doubt it has much to do with median house price data as this takes about 3 months to come out.
Market value is most often the ‘gut feeling value’ given as a response to the question “what are properties around here selling for?”
Of course, the market value can only be accurately after the property is sold, at which point it reflects what a buyer will pay and the value a seller will receive.
quote:
2. Does anyone use a property manager? I need some advice on selecting one. What makes a good property manager?
A good property manager is one that sees a problem before it occurs, then solves it in a way that is efficient both in terms of time and cost.
Trust is absolutely essential… and we feel our property manager looks after our assets like she would her own.
We don’t take the cheapest, since often paying peanuts attracts monkeys!
Bye
Steve McKnight
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Remember that success comes from doing things differently.
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Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.com
Success comes from doing things differently