Home Selling in 11790>Question Details

Seller, Both Buyer and Seller in Stony Brook, NY

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Asked by Seller, Stony Brook, NY Thu Feb 9, 2012

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Generally speaking, it's a good practice to stay within the same school district, same style if possible, within about 1/2 mile radius and do NOT use anyhting older than 6 months. In a neighborhood like Stony Brook, there can be also be measurable difference from one subdivision to another (i.e. "the Sections", "The Critter streets") that should be taken into account.
If you use the guidelines above, you'll be able to get a fairly good idea of what the property is worth, but for a more accurate reading, I'd suggest either a certified appraisal or a professional market evaluation from a local Realtor. Best of luck!
Web Reference: http://www.markmalsky.com
0 votes Comment Flag Thu Feb 9, 2012
one mile, same school, similar style house.
0 votes Comment Flag Thu Feb 9, 2012
Generally the comps are within a mile, in the same school district, if possible the similar style of house, otherwise the same # of bedrooms, square feet, condition, etc, sold or close within 90 days, (may use 1 of the comps within 3-6 months period). If comps are not available within 1 mile then appraiser may look little further distance.
You can call a certified appraiser ($$) or call a local Realtor to give you the comps.
Please feel free to call 631-889-2997 or email me, I will be glad to help. Good Luck
0 votes Comment Flag Thu Feb 9, 2012
If Ron is correct, and you are questioning a low appraisal, then the rule that appraisers in our area follow are within a 1 mile radius, and within the past 6 months. They also will look to "bracket" the house, one smaller, one larger, one lower priced, one higher priced.
That being said, and appraisal is an opinion of value, and you don't always know how familiar an appraiser is with the area. Also, they all have their own opinions, in your area, some won't cross 347 or Nichol's Rd, even though that makes sense.
0 votes Comment Flag Thu Feb 9, 2012
The way your question is worded, It sounds like you have a bone to pick with an Appraiser:
If that is the case, I would recommend moving on.
The Appraiser is not trying to make you happy, they are working for the Bank and they need to protect the Banks loan; that is their reason for being.

Good luck and may God bless
0 votes Comment Flag Thu Feb 9, 2012
In a luxurious resort town, such as Telluride, Colorado the proximity of the location to the resort amenities, such as skiing, music festivals and downtown area are paramount, in addition to lot size and subdivisions.
0 votes Comment Flag Thu Feb 9, 2012
Online info available to consumers is very unreliable.

We will be happy to pull comps for you; no obligation.

Gail@GailGladstone.com
631-425-6150
0 votes Comment Flag Thu Feb 9, 2012
Don't simply rely on online comps, as some may be inaccurate, not updated, or too old; rather ask any local agent to provide you with an analysis, which is provided free of charge; or consider hiring a professional appraiser.
0 votes Comment Flag Thu Feb 9, 2012
I would keep it within in the same school district rather than a mile constaint. For example 2 similar houses could be within a mile of each other one in Three Village and the other in Middle Country School District but the price would vary greatly. If you have any specific questions feel free to contact me.
0 votes Comment Flag Thu Feb 9, 2012
In Stony Brook I would start at half a mile and work out from there, if necessary. But keep in mind, you want to stay in the same neighborhood (and in Long Island in the same school district which is more important than distance) so if I'm on the edge of a strongly defined area I might not go in one direction at all, but a mile in the other. It should be relatively easy to get comps in Stony Brook unless the home is extremely unique. I'd be happy to do a free CMA for you as would most agents in the area, and it's free with no obligation.
Tom Brady
Licensed Real Estate Salesperson
631-682-8660
Tom@BradyFamilyRealty.com http://www.BradyFamilyRealty.com
"We treat you like family!"
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803
0 votes Comment Flag Thu Feb 9, 2012
That's going to depend largely on the region. Downtown Manhattan, for example, a mile would be ridiculous. In rural Oklahoma, it might not be unusual to pull from many miles away.
0 votes Comment Flag Thu Feb 9, 2012
Alan May, Real Estate Pro in Evanston, IL
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