I would Love to "CLOSE" with you...
Wednesday, August 3, 2016
#TOTD on #RealEstate #Comparables #COMPS #SELLERSWhen it comes to comps, here are some of the factors that will affect the price.
1: Location within the #Neighborhood : Cul De Sac's for example offer more privacy and space compared the first the home near a busy street for the exact same subdivision.
2: #Home #Lot: A hilly terrain or a home on a steep slope comes with a lot of disadvatages unless your a down hill skier. Having a picnic outside might be hard when your fruits roll down the hill.
3: #Renovations: "House A" is prestine and has the same look from when it was originally built in the early 90's, compared to House B next door that comes with the updated kitchen and bathroom. As a #buyer which one do you think will be more desirable.
4: #New #Construction: could be a good or bad thing. The land value might be worth less or more from the time you bought the #property. The homes being built might be on a complete different price bracket than your home. A home worth $20k in the 60's maybe on the same block with house being built for the 2010's worth $500k+ now i wonder what the property tax will be.
5: #Listing price vs #Sales price: Listing Price is what the #SELLER want to sell their house for. I want to sell my 2008 Dodge Charger for $28,000 but that doesn't mean its worth that since a 2016 Charger is going for $28,000. The #Sales price is the sold inventory the actual price the home sold for on the market.