--- In AsburyPark@yahoogroups.com, "theshortsalepro" <njd...@...> wrote:
>
> A BPO, or Brokers Price Opinion, doesn't carry the weight of a
> certified appraisal, or the price tag... A BPO can be just as accurate
> as a full appraisal, or, riddled with inaccuracies.... intentional or
> otherwise.
>
And in the end, it's only a guide or GUESS as to what someone might
pay IF they want to buy your property.
Look at the eminent domain cases for an easy example from two experts.
In my area, we have the syrian factor. That's a mysterious number you
can apply to a property about this time of year or the end of the
summer. you can't comp it either. It has to do with the proximity to
Deal and to one of the temples. It has to be under one mile. More land
is better...
The house next to me was just sold. I don't know the selling price
yet. I just saw it getting surveyed. She didn't even have to use her
friendly neighbor agent either. She turned down one guy on the other
side of me...
I know the house will never appraise for what my guess is the house
sold for. The value of land to a guy from brooklyn is priceless, the
house almost meaningless.
One original thought for North Beach would be that the crowd from
Broklyn would buy em up. Many did have contracts and multiple units
but I don't think, because of the delays, they ever closed.
Seems like yesterday they were sold out with 1,000 people on the
waiting list at north beach....
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