Property Evaluation

One service that I believe is extremely important in Bermuda Run, Bethania, Boonville, Clemmons, Cooleemee, Danbury, Dobson, East Bend, King, Lewisville, Madison, Mayodan, Mocksville, Mount Airy, Rural Hall, Stoneville, Tobaccoville, Walkertown, Walnut Cove, Yadkinville, Winston Salem, Alamance, Asheboro, Biscoe, Burlington, Green Level, Denton, Elon, Franklinville, Gibsonville, Graham, Haw River, High Point, Archdale, Jamestown, Kernersville, Eden, Lexington, Liberty, Mebane, Milton, Mount Gilead, Oak Ridge, Pleasant Garden, Ramseur, Randleman, Midway, Reidsville, Seagrove, Sedalia, Staley, Star, Stokesdale, Summerfield, Thomasville, Trinity, Troy, Wallburg, Welcome, Wentworth, Whitsett, Yanceyville, Greensboro, Elkin, and Jonesville real estate markets is helping my listing clients to objectively evaluate their homes for marketability. Some brokerages do a once–over to get the information to put into the various information fields in the listing . However, I go much more into the detail of the features, characteristics and condition of your home.
 
I will want to postpone some photos until we’ve worked with you to do a thorough inspection of your home with a whole lot of details in mind. Every buyer who sees your home will be comparing it to the competition in your area and price range. How your home compares is critical to how soon you sell it and at what price. I'm going to work with you in several areas of concern:
  • Interior features & characteristics – While the number of bedrooms and baths are not something you’ll be changing to compete better with other homes, you do need to objectively compare them in order to end up with a listing price that will get your property sold. Some things I can consider for improvements, others I just need to know how your home compares to other homes buyers will be seeing. Other features/characteristics:
    • Floor plan
    • Built date and obsolescence
    • Floors & walls condition, paint, etc.
    • Kitchen features
    • Room sizes
    • Lighting, skylights, windows
  • Exterior – That “curb appeal” thing really does mean something. When a prospective buyer first drives up in front of your home, they’re going to get a first impression that is very important. I help you to look at things like landscaping, exterior paint and condition. Here is an area in which small expenditures can yield big results. It’s a fact that some buyers will ask to leave without ever stepping across the threshold if they get a bad first curb appeal impression.
  • Condition – Minor repairs can also make a major difference. Many buyers assume that a need for minor repairs indicates a general lack of fundamental maintenance over time. They’ll discount their offer, if they make one, thinking they’ll have a lot of work to do to bring the home to a good condition. So, I'm honest with you about things that I see and buyers will see and consider in their evaluation. From cracked window panes to scarred walls or doors, we’ll let you know what we believe is important and make suggestions.
I'm here to make sure that your home enters the market in the very best competitive position possible. A thorough and objective evaluation is an important step.

Here are four reliable sources of home pricing trends and data that you can use to construct a sturdy comparative market analysis.

    1. Federal Housing Finance Agency – This little-known website has two priceless tools, both drawing from home sale data pulled from mortgages backed by the Federal Housing Administration, Fannie Mae and Freddie Mac. That’s the vast majority of mortgages made each year.

 

      • FHFA House Price Index shows the home value trends for metropolitan areas from Akron (OH) to Williamsport (PA).  You can use the trend to see where values are headed in your area: up, down or nowhere.  This shows you the momentum of your local market, which helps you know how to pace your expectations.
      • FHFA House Price Calculator lets you enter in the purchase price for a house in any metro area; the calculator applies FHFA index to that house and provides the likely market value of that house. However, this does not include either the value added by improvements or subtracted by a distressed sale situation, so you will have to take these considerations into your pricing strategy.

 

    1. Local property tax records – You can look up the most recent sale price of houses that are the most like yours in your neighborhood online or in person. Most databases even let you search by street address. Plug those sale prices into the FHFA’s House Price Calculator to come up with a comparative market analysis and map of values for houses near yours.
    2. Local building permit information – Look up – in person or online – the building permit information for nearby houses that you think are similar to yours. This will help you peer inside your neighbors’ houses and pinpoint exactly what they’ve done to improve their properties (assuming, of course, that your neighbors got building permits for their projects). You will have to visit the house to see what kinds of fixtures and finishes your neighbors chose, but the permit history for each house will reveal the big-ticket improvements that support major leaps in value, such as bathroom additions.
    3. FNC – FNCcollects data about the changes made to each house (improvements, for example) and blends that with current sales data to produce indices of home value for major metro areas – far more than the 20 covered by the Case-Schiller Index.  Just look for the newest FNC Index report underneath the “Latest News & Media” section on their home page.

Organize the data you collect from these sources in a spreadsheet to help you identify the key trends for your neighborhood. These values and trends can help you frame a realistic market value for your own home.

Find Nearby

  • Hospital
  • School
  • Pharmacy
  • Airport
  • Bank
  • Post Office
  • Nursing Home
  • Church
courtesy_mls.png

Get-a-Free-Home-Evaluation.jpg
 
See-What-is-on-The-Market.jpg
 
How-We-Market-Your-Home-Online.jpg

Contact Info
Agent
Realtor | Broker

Michael Jones

RE/MAX Of Greensboro

204 Muirs Chapel Rd
Greensboro  North Carolina 27410

(336) 750-6453 (800) 950-6453 (336) 346-1280

Facebook
Social Media

Our RSS Feeds
  • Global Pros Shaping an Industry 21 Apr 2017 10:40:00 ES

    In March, more than 6,000 real estate professionals representing 60 countries attended the annual RE/MAX R4 Convention in Las Vegas. Even among the highly energized crowd, the international groups stood out, waving flags, singing national songs and boisterously cheering on their colleagues.

  • 5 green home improvements that can help sell your home for more 20 Apr 2017 11:15:00 ES

    Demand remains high for energy-efficient, eco-friendly home features, according to a survey by the National Association of Home Builders. In fact, the majority of builders now put energy-efficient windows, heating and cooling systems, thermostats and appliances in their construction, the survey says. If you’re selling your home and hope to compete with new construction — as well as set your house apart from other resales — making green improvements could significantly pay off.

  • Finally, a True Picture of Asian American Homeownership 14 Apr 2017 10:56:00 ES

    “Real estate professionals who take time to learn more about the unique needs and challenges of the AAPI community position themselves to provide better service and offer more value to customers,” stated Geoff Lewis, president of RE/MAX, LLC, which presented the report.

  • Small nest egg, big dreams? Tips for buying your retirement home 28 Mar 2017 12:53:00 ES

    Planning for retirement means making a lot of decisions, including when you'll stop working, how much you'll withdraw from your savings each year, and where you'll live. Many Americans view retirement as an opportunity to move into a house they'll love and live in for all their golden years. In fact, 64 percent of retirees either have moved or plan to move, according to a Merrill Lynch survey.

  • 6 easy, affordable smart home features that could help you sell your house faster 10 Mar 2017 12:06:00 ES

    Fresh paint on the walls, professional staging and an asking price that ends in 999 — when you’re selling your home, you’ll do whatever you can to help it stand out and sell faster. Because the National Association of Realtors is predicting modest growth for the 2017 real estate market, as a seller you want every edge you can get. And on the heels of the popular Consumer Electronics Show in January, perhaps that edge is a smarter home.

  • Re/Max Agents Are House-Sellin' Know-It-Alls in These Fun Ads Directed by Roman Coppola 09 Feb 2017 18:29:00 ES

    Camp + King portrays Re/Max agents as helpful know-it-alls in these cute ads directed by Roman Coppola. “We were inspired by house hunting/DIY shows where they always focus on the latest trends,” agency creative director Rikesh Lal tells Adweek. “The home-buying process is heavily influenced by these shows, so we played into that culture to show there’s more to buying a home than what the wainscoting looks like or what your friends think.”

  • Mortgage rate increases dampen refinancing 30 Nov 2016 17:29:00 ES

    With mortgage rates ticking up as investors anticipate the Federal Reserve raising interest rates in December, the cost of borrowing is increasing, and that's leading some new-home buyers to speed up their purchases, while discouraging homeowners from refinancing existing mortgages.

  • Autumn and early winter: The best times to be a homebuyer? 21 Nov 2016 13:48:00 ES

    The long-held belief that summer is the only time to buy a home is fading fast. Savvy home-buyers are learning that when temperatures drop, numerous benefits emerge that simply aren't available other times of the year.

  • First-time homebuyers: You're closer to a down payment than you think 13 Jul 2016 12:45:00 ES

    For many first-time buyers, saving for a down payment is the most difficult step in the home-buying process. However, it's a common misconception that you need 20 percent down to buy a home. Actually, lenders across the country offer mortgage products with very affordable down payments — some as low as 3 percent.

  • REW Online: All Eyes on Suburban Workhorse as it Makes Fresh Push into NY 08 Mar 2016 11:15:00 ES

    RE/MAX is the top story featured in the March 2, 2016, Brokers Weekly section of Real Estate Weekly magazine.