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Using Price-Per-Square-Foot To Compare Homes When Buying Or Looking Is Just Plain Wrong July 24th, 2010

daniboy

I target Canton Ga homes for sale and in my market, time after time when I first work with a buyer there always seems to be a list in hand that shows price-per-square-foot. The buyers take the prices on sold homes and then divide the sold price by a home’s square footage to arrive at the price-per-square-foot. Using that means to compare homes when house looking just doesn’t make sense I tell them.

Here is the reason why…

A quick example: house #1 sold for $100,000 with a square footage of 1500. Next you have house 2 that sold for $120,000 and also a square footage of 1500. That is a $20,000 difference, yet both homes had the same exact square footage.

Using the example above, the buyer calculated a $67 square foot price for house #1. He calculates again to derive an $80 price per square foot for house #2. Both calculations are correct only the buyer has unknowingly neglected to take other important factors into play.

When using only the price per square foot as a guide, one fails to consider important factors that determine the home’s true value. One home may have a 2-car garage while the other has a 3 car-garage. That alone could mean a difference in value of up to $5,000 in a formal appraisal.

One home has a tiny yard, the other a gigantic lot. One home may be fully landscaped, while another home has a plain dirt yard. A home has a tile roof, while another has comp shingle. A home may have expensive hardwood flooring throughout, while other homes has bare basic carpet. Better yet, home #1 has a beautiful mountain view looking out from the back yard, while home #2 has a cement wall and a noisy shopping center looking into its back yard.

The number of bedrooms and baths are also an important factor. You can have the same square footage in two homes, but if one home has an extra bedroom for example, it could increase the value of that home another $4,000 over the home with fewer bedrooms.

Although a real estate broker is not normally a licensed appraiser, you can still look at the differences when comparing homes and pencil in adjustments to the prices on homes sold, or even to homes the buyer may be looking at and considering making an offer on. This will help guide you into making a justified offer price, and present a level of comfort when doing so.

Maria Mekus Canton Ga Homes – About the Author:
Maria Mekus – Canton Georgia Real Estate Expert
Maria Mekus is a professional real estate REALTOR with RE/MAX Town & Country, Canton, Georgia.
Maria’s track record as a successful agent is well-documented. Consistently one of the top RE/MAX agents in North America but it wasn’t until 14 months into her real estate career that Maria took a quantum leap. She realized it was impossible to excel as one agent. So Maria feverously began designing her own plan, taking each part of the real estate transaction and systemizing it. Next she hired a team.
Did it pay off?
Within 11 months Maria had gone from 1 transaction a month to 122 transactions a year. Her name became well known in the community, and her expertise was in demand by area homesellers.
She now has a beautiful little boy, a wonderful husband, and has gained the freedom to really live her live. She is also able to focus some of her attention to what she loves best which is teaching and helping other agents so they can be as successful.
Find out more about Canton Ga real estate today.
“I can help you change your approach to the real estate business”
I can be reached at maria@mekus.com …..MARIA MEKUS

Please visit Price Per Square Foot to Finish a Basement to learn more.

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Big City Tend To Have More Economic Advantages Fore Real Estate Deals July 24th, 2010

daniboy

There was once a time when you could purchase a real estate in the center of the city. That time has gone away. If you need to live in a noisy urban region, the solely method to use at the present time is to purchase a condominium. For instance, there is nothing but different condo units in the center of the cities. So if you need to purchase in this place, you will have to be searching for condos. A condominium is identical to an apartment, exclude that instead of getting a rent, you possess it. Customarily if you obtain a thirty year mortgage, your repayments will be a little bit increased than apartment rents, but in revenue, you will consequently possess the benefit. Condo units can be thought to be an investment, or retirement finances, because it may consequently be one of the helpful alternatives of your retirement finances. There are a lot of alternatives when you need to get a condominium. You can either get from an ordinary sale, buy a short sale, foreclosure, or a new condo unit. Your alternative will depend on what you are particularly searching for.
Is their a specific condo that grabbed your attention? Do you need a perfect deal? Do you like new living area? These kinds of thoughts will be part of your solution when you get a new condominium. You can get it in different places that draw into short sales because of the economic situation. If you are searching for a great property unit deals in this market, you may be positive to search for one of the short sales to get yourself a condominium property. When you begin searching for a condo, the primary thing you need to implement is figure out as many as you are able to. When you can grow the range of condo units you viewed, then your alternatives grow, and it will become simpler to get the precise condo your searching for. Before you begin your search, be certain you make list with all the aspects you need. For instance, do you need a pool, or a spa, sauna, or sport gym. These kinds of concepts are crucial when you are seeking for a new condo property because you can be living there for some time.
There are a lot of nice options to getting condos in the big city. Primarily, apartment units and condo units in the crowded city just are in greater demands than in suburban places. So you will obtain more rentals than in a rural town if you opt for renting it out. There is not greatly will alter the alternatives because the big city has tendency to have more economic advantages.

Property is one of the most demanded of selling and buying objects. It is possible not only to invest money into it but also to have them back if needed. In foreclosure? If you need to sell house, then check out this site where there are lots of info on how to sell house for cash and how to sell house quickly.

In addition, I would like to give some general tips. Search Google or other search engines. Visit social networks and have a look on the accounts that are relevant to your topic. Go to the niche forums and join the discussion. These days the Internet technologies give us a really unique chance to select what one wants for the best price on the market. All this will help you to build up a true vision of this market. Thus, giving you a real chance to make a smart and nicely balanced decision.

P.S. And with that we would recommend you to subscribe to the RSS on this blog since we will do our best to keep updated with new info on selling a house topic and other relevant issues.

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