Reply to How to get realtor"s advice on whether to sell or build addition, likely selling price?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP, realtors will tell you to sell this one and buy another one. The best thing is to look at recent sales prices for homes similar to yours with an addition vs. something else you would buy. [/quote]

I am an Arlington real estate and at least one or two times a month an owner asks me to evaluate the current value of their home and the value with an addition.  Typically, they have gotten at least one estimate for the cost of an addition, and I generally know how much additions cost because I have seen so many of these estimates.   They are trying to decide if it makes sense to do the addition or buy another house.  The analysis is simple: Take a $1m house and add an $850K extension.  Is it worth staying there or buying another house.  About half the people decide to stay and the others to buy another house.  Again, the analysis is simple:  If they have a good lot in the neighborhood and school district they like, do the addition and stay.  If they don't have any of these elements in the current house, they may be better off buying a house on a nice lot in a location they want.

I assure you the last thing I need is another buyer trying to find a house in Arlington.  I can sell their existing house morning, noon, and night, but finding them another house is very difficult.

[/quote]

Thanks, this is helpful!  Do you charge for the evaluation or do you do it for free?  Are these former clients or cold contacts?  Would it be weird for me to contact someone out of the blue and ask for this... do I need a connection?[/quote]

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