New construction vs Rehab

[cybermenn]

What would you do? subject property is built in 1950 rehabbed in 2003 like new construction inside and out, plumbing, electrical, insulation, hvac 2 zone, siding, railings paver walkways. Everything a newer construction property would offer.

Question 1 is since I only have three viable comps two of which are new construction. would you use them. Mind you there are no other sold in the previous 12 months. These would be best available.

also, on the grid i need to list the age as when the original home was built and not the rehab date correct?

thanks for you comments in advance!

 

[josephdifranco]

Brian,

Sure, if thats all you have, use the new construction and adjust accordingly.

For age, I used to list the actual age, followed by a slash, and the word rehab.

Ex: 55/Rehab

Then provide some additional explanation in your sales comparison comments.

Congrats for having some residential business.

 

[cybermenn]

Or I can go with A55/E0