I was wondering what factor to multiply to a house's pre-bubble price to arrive at today's approximate price?
Also,
I am looking at a house that sold in 1999 for 517K. It sold during the height of the bubble in 2006 at 645K. Then it appears an investor bought it in 2009 for 515K. They put in a swimming pool and are now asking 620K just 6 months later. What do you think a reasonable offer would be for this house? Without the pool, I would have applied just the inflation factor but now how do I price the addition of the pool? Do you think 550K would be a reasonable offer including both factors?
Hello,
I was wondering what factor to multiply to a house's pre-bubble price to arrive at today's approximate price?
Also,
I am looking at a house that sold in 1999 for 517K. It sold during the height of the bubble in 2006 at 645K. Then it appears an investor bought it in 2009 for 515K. They put in a swimming pool and are now asking 620K just 6 months later. What do you think a reasonable offer would be for this house? Without the pool, I would have applied just the inflation factor but now how do I price the addition of the pool? Do you think 550K would be a reasonable offer including both factors?