finding ARV

[Laquinta9]

Help!  I'm so confused on figuring out the ARV.  The following are some of the comps I found for a wholesale deal I'm working on:  160k, 148k, 140k, 208k, 175k, 180k.  What's the ARV? 

[sellnbama]

The square footage probably is different among those,so try to get an avg per square and multiply it by the square footage of the house you're lookin at.I usually have realtors do this,cause they have it on mls program.But its not hard to do without them.Small tip...try to stay on the low end of the spectrum of avg you come up with.Hope this will help.   

[Hooch]

If all of those houses were recently sold and are very near by the house you plan to purchase you can take each one of them and divide it by the square feet and you will get the price per square foot. Then take all of those prices per square feet, add them all up and divide them by the number of them that you found. That will give you the average price per square foot. Then multiply the average price per square foot by the square foot of the house that you are interested in and you will have your ARV.

Just as sellnbama said with more detail.

[aaronwilliams123456]

Why don't you drive the comps to get a better idea of what is happening? I assure you you'll know the difference and you'll learn your market better.

[ericmedem]

After repair value can be tricky right now in many markets because prices are dropping so quickly...

One of the things I recommend is to look at the homes that are currently listed in your area...Your not looking at them to establish a high point you're looking to establish a low point....

For example if you've got 6 month comps ranging between 160 and 190k and you have a home still on the market that is comparable but it's listed at 130k then you would know that your ARV won't be over 130k because if a comparable home won't sell RIGHT NOW at 130k then you can't expect anymore for yours...

Just one more thing to consider when doing your ARV.

Eric Medemar

[CLEELLIO9]

OK, ADD ALL SIX AND DIVIDE BY SIX, YOU HAVE AVERAGE PRICE THEN RUN ARV THEN YOUR FORMULA FOR SUCCESS TRY IT KEEP IN TOUCH