Comparable Real Estate Property Evaluations - What you need to know..

How is value determined?

Value is determined by comparing like kind properties and how much they have recently sold for. Value exists out of free market forces which determine what a buyer is willing to spend on a property verses other homes of like kind features or preferred desirability currently on the market. Willing and able buyers can influence this greatly!

How does it work?

All features, amenities, location, size and overall condition of your property are compared to other property information. No two properties are the same. A balance of evaluating a positive against a negative or vice versa is taken into account as properties are assessed side by side and compared.

How accurate is it?

In a residential subdivision with say, two hundred similar homes and floor plans built around the same time can be an easy assessment. Rural and country area locations of varied characteristics are much more of a challenge. A site visit by a professional agent such as myself is a must to see difference aspects of appreciation or drawbacks in properties.

How I Work

• For a very unique property I will insist on a location visit for first hand information gathering and assessment.
• Visual inspections serve as one of the best resources.
• I then search for homes in similar areas that match preliminary criteria.
• I will then assess the market as a whole and research recent sales information and other homes on the market that may serve as competition.
• Do research on the volume of available buyers that may be interested in your property.
• We will discuss your needs and the positive aspects of your property together. Depending on your immediate goals a pricing strategy will then be formulated.
• I will provide an estimate of value via email for starters, but will follow up for an accurate evaluation. It is in your best interest.

Frequently Asked Questions

Why is my home being compared to a home much older than mine?
Remodeling, improvements or possibly structural enhancements.

How come the price difference if my home is the same age?
One home may be in need of repairs, have a undesirable floor plan or questionable location, schools, transportation, views etc.

Why the price difference? It appears to be the same..
A property may have been on the market when the supply of like kind houses was either sparse or abundant coupled with vigorous or sluggish buyer activity.

COUNTRY PROPERTIES

Aren't all septic tanks and sewage leach fields the same?
NO! Depending on date and method of installation may vary and affect current and future function. Newer systems have been (or should have been) engineered and installed with much more supervision than septic systems in the past. It also depends on user maintenance and periodic inspections. A registered inspector specializing in septic systems should advise.

What is the difference between wells that are the same depth?
Water quality and quantity (gallons per minute) can vary greatly from location to location. Pumps and mechanical items installed with the well may be older or newer from well to well.