FREE REAL ESTATE MARKET APPRAISAL
HOW WE APPRAISE YOUR PROPERTY
We’ll appraise your property based on our tried and tested 10 POINT EVALUATION METHOD:
#1 – Location: Of course, it makes sense to evaluate the value of your property on where it’s located. But keep in mind that similar properties don’t always sell for similar prices. This is our credo and allows us to always think out of the box when appraising our client’s homes
#2 – Improvements: As you’d be aware, buyers are particularly keen on updated kitchens and bathrooms. Our appraisal will take into consideration what improvements have been done, and what needs to be done. We’ll look at it through the buyer’s eyes
#3 – Maintenance: This can be just as important as improvements in the buyer’s mind. A well-maintained home is always worth more. Factoring in the maintenance condition of your property ensures a more realistic appraisal
#4 – Presentation: The degree in which your property stand out above the rest determines the level of buyer engagement and consequent inspections of the property. The more memorable, the more inspections. The more inspections, the greater likelihood of a higher price. A big part of our appraisal will be taking into consideration the presentation of your property
#5 – Neighbourhood: Recognising the aspects of living your neighbourhood that’ll be most appealing to your buyer contributes to the appraised value of your property
#6 – Market Conditions: There are several dynamics that influence the sold price, few greater than the seller’s motivation, the buyer’s motivation and the market conditions at the time of selling the property
#7 – Market Trend: The dynamics above have a huge role to play in the final outcome. When you get so many variables affecting price, the possibilities are enormous, making the outcome less predictable than what many agents would have you believe. The fact is, if you don’t fully understand if the market’s trending up, down or flat, at the time of the appraisal, the appraisal is meaningless. In our evaluation, we look at how the market is trending and discuss the impacts that may have on your property’s value
#8 – Recent Sales: As above, H & H believe price is subjective, for instance – one of the comparison properties an agent supplies to you in their appraisal may have been sold under seller duress, another may have had poor marketing and didn’t attract the right buyers – we’ll analyse each comparable sale in the area, not just take it at face value
#9 – Supply Vs Demand: The price a buyer is willing to pay for your property often comes down to the pressures of supply versus demand. Evaluating this dynamic directly in relation to your property and the expected demand and availability for similar properties will shed light on the speed in which we’ll sell your property and the level of pricing support we can expect for it
#10 – The X Factor: The question is: Does your property have the X Factor? And what is that X Factor? And what does that mean in terms of price? We investigate the X Factor of your property, if it’s not obvious, we look at ways to create one for you. This is what gets them to the open house, then back for a second inspection, then to inking the deal! This is the final part of our evaluation and possibly the most important.
The market is dynamic. What your property was worth last year is likely to have changed. If you’d like to get an understanding of the new value of your home, or looking for some real estate advice, please complete the form below and we’ll respond promptly.