Reply to Incredible deal! ......BUT WAIT...

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[quote=onlythemaple]While browsing Zillow, I came across a house for sale:

[url]https://www.zillow.com/homedetails/3270-Willow-Glen-Dr-Herndon-VA-20171/51764790_zpid[/url]

Going for 1.4m is technically a VERY VERY GOOD DEAL. The comparable houses that are similar sqft and location go for at least 1.6-1.7 (search if you don't believe me).

However, after looking at it more carefully, I believe there is faulty info advertised.

This house (number 1 as shown in below pic) boasts 4,695 SQFT above ground and 25,000 sqft in total according to icare.fairfaxcounty.gov.

[img]https://i.imgur.com/c80lI9V.png[/img]

BUT clearly the house (number 2 as shown in below pic) on the right looks bigger or at least doesn't look smaller by 1000sqft.

[img]https://i.imgur.com/q8FvPiy.png[/img]

county data records house number 2 as 3,744 SQFT:

[img]https://i.imgur.com/S3Li3M5.png[/img]

House 2 was sold in 2021 for 1.35 BTW and Zillow currently estimates it at 1.62. If House 1 really is 1,000SQFT larger, it should AT LEAST be in the 1.62M range.

BUT here's the problem.....

I noticed in the Zillow photos, the realtor uploaded floorplans with calculations...which tbh kudos to the realtor for possibly clearing up some faulty data...

In the floorplans calculations, the house has a true above grade SQFT of only 3938 SQFT (main floor: 1996, upper floor: 1942)! Which makes far more sense (and price reflects it) than the 4695 SQFT Fairfax county recorded!

[img]https://i.imgur.com/gN1Stft.png[/img]

As you can see, it's actual finished SQFT is 5106, which is much less than the 6,200 (this is including unfinished and outside areas) advertised on Zillow site and WELL BELOW the Zillow advertised interior living SQFT:

[img]https://i.imgur.com/U5F3BLb.png[/img]

County data is important because it's what A LOT of buyers base comparables on and if sellers don't calculate when selling, buyers (and realtors) more than likely rely on county provided data.

I still believe in county provided data but now this really has me having to really do my own research before pulling any triggers.

This is my hypothesis on fair value on this house, which at 1.4m is probably fair and NOT the ultimate value buy I had originally thought. If the realtor didn't post floorplans and if I didn't pay too much attention while touring it....I would have absolutely believed it somehow was 4,695 SQFT ABOVE GRADE!
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