The value of a property, or anything,
is ultimately what another person will pay you for it at a particular
time. As a licensed Connecticut REALTOR since 1996, I have observed
a similarity between real estate and produce, as the price of both
items changes depending on a variety of conditions, including quality
and availability. When we buy or sell a property together, we
consider many more factors other than color, size and freshness. Here
are a few ideas to help you. As your fiduciary agent, I will share
more property specific ideas and insight with you, when we look what
you want to acquire or sell,
Many times I have counseled my clients,
always saying the location is the most important value, because you
can change almost everything about a property, except where it is.
Therefore, I consistently advise my clients to buy the ugliest house
in the best location they can afford, then work to make it uniquely
theirs.
When looking at a specific market, such
as three bedroom homes with a bath and a half, garage and about 2000
square feet in the same community, consider these adjustments to
value:
1) Neighborhood Location- Is the
property on busy street, cul-de-sac, or neighbor only loop.
2) Topography-Is the lot (and driveway)
level or sloping, affecting functional space.
3) Style-A colonial does not compare to
a split or cape due to dormers and basement design.
4) Renovation- The quality and
placement of a renovation may add value, appliances don't.
5) Layout – Functional flow, door way
size and window views are items of value.
6) Proximity – To recreation,
shopping, schools and exercise amenities within 2 miles.
7) Noise – How close are you to a
highway, train, or other offensive noises and smells?
8) Property Setback – How close are
you to your neighbors, and what are the sight lines?
9) New Construction – Consider
workmanship, the material quality and the history of the builder.
Although these is a good list, it's not
inclusive until we review your most favorite properties when buying,
or compare your competition when selling. You may also read “The
Multiple Values of a Home”, which I wrote, and is available on my
website <http://ahomeforme.com> and Linked In. Since 1997, I
have appreciated the time I have invested, learning about real estate
with my clients, and your referrals of friends, colleagues and
associates. Contact me at my office – 203.654.2905.
Copyright2016
by David Carr. All Rights Reserved
