|Posted on November 13, 2017 at 11:10 AM||comments (0)|
It recently came to my attention how different analysis is for my market area as compared to a highly populated condensed suburbia.
A fellow appraiser and I met for lunch to discuss methods, techniques and analysis, and it became apparent how different our methods used were, simply based on the data we could gather. His was so much easier because the market area is Temecula and Murrieta where there is so much more relevant data, that doing a grouped analysis in determining adjustments was fairly straight forward. Whereas my market area is almost a rural residential area, where the properties vary widely in view, quality, lot size, etc, so a grouped analysis does not make sense. My preferred method is paired sales when in the Fallbrook and Bonsall areas. This is part of the work of an appraiser: to analyze what methods are the most reflective of the market segment and market area that we are dealing with, to come up with adjustments that make the most sense, and which aren't reflective of the market segment, and then come to a final opinion of value based on this analysis.
In my opinion this is why a purely computer generated appraisal (with no human interaction) is not going to work for our future, especially with a more rural and complex market area.
|Posted on September 28, 2017 at 3:15 PM||comments (0)|
|Posted on February 21, 2017 at 11:25 AM||comments (1)|
This article provides information by Jerry Kalman, a realtor® with HomeSmart Legends in Fallbrook, on the marketplace of Fallbrook and Bonsall so far in 2017. Sales of homes appear to be higher than January of 2016, however "several high end homes helped boost prices as three of these properties, all in Fallbrook, closed escrow in January". I wonder if the numbers would still demonstrate an increase in sales price or price per square foot if the high end homes, otherwise called "outliers" in the data set, would be removed. And further, were there similar outliers in the data set from 2016?
While I love to read articles like these, this is one reason my research is based on specific "market segments". From the dictionary of Real Estate Appraisal (Appraisal Institute) the definition of Market Segmentation is: "The process by which submarkets within a larger market are identified and analyzed". For example, when appraising a condominium unit in Fallbrook, the market analysis would include only condominium sales, and no detached single family residences. When appraising a residence on a city sized lot within town, the analysis would include dwellings within a determined size, age, bedroom count and similar lot size in town, and not include acreage properties outside of the main town.
Enjoy the article and take it for what its worth: prices appear to be still increasing, and busy season is coming up soon!
|Posted on November 18, 2016 at 2:10 PM||comments (0)|
I am so excited by all of the changes in the "green" industry! It makes me happy thinking about how our world will look in the years to come, because in the past that has been something that makes me nervous. Having three kids and wanting the best for their future is one reason I get excited about the advances in green technology. The Tesla company and owner have impressed me so much, and I cant wait to see how these roofs change the building industry! I will post more as they are rolled out next year sometime.
|Posted on October 7, 2016 at 12:00 AM||comments (0)|
Here is a good article demonstrating why it is good to hire a local real estate agent. Not only can they serve you better because they can give you more time, but they also understand the subtleties of the specific market segment.
In urban and suburban areas of San Diego, many agents and buyers may not understand how to deal with septic tanks, wells, acreage, easements, etc. That is why hiring locals to help you with your real estate needs is beneficial. Not only real estate agents, but also real estate appraisers! I have worked in rural settings for many years, and love it! The variation of my day to day work is exciting and sometimes difficult. But, with my diverse background, I welcome the diversity that a rural market brings, and competently tackle complex rural appraisals.
Take a read over the article in its entirety:
|Posted on September 15, 2016 at 12:25 AM||comments (0)|
Up for a vote in November is the Lilac Hills Ranch housing development. Current zoning allows up to 110 houses on these 608 acres, but would be modified to over 1700 homes if approved in the vote. Looks like we need to really read more information on this project in order to make an informed voting decision come November. Please take the time to read this article, and more, before then! I am not a fan of sprawl in rural areas, however, I love that it is at least an eco-friendly plan... What are your thoughts?
|Posted on June 2, 2016 at 7:30 PM||comments (0)|
Interesting article! I have seen a steady increase in many areas and market segments. What I find interesting is that marketing times are very low in most areas at under a month, but that "Just 28 percent of households can afford a median-priced home in San Diego County, said the latest report from the California Association of Realtors." Where are all of the buyers coming from? Ponder that and give me your thoughts... Low interest rates, out of state, businesses, etc?
|Posted on May 17, 2016 at 5:45 PM||comments (0)|
When I drove through Oceanside last summer, after having been gone for about nine years, there was a lot of change that I saw too. Here is a good article on the changes over a longer period of time, and what the market there looks like. Enjoy!
|Posted on May 13, 2016 at 11:55 AM||comments (0)|
An interesting article on the sales activity in Fallbrook and Bonsall. There are variantions in the data when the higher end homes sell, which is why I like to do research on more specific market segments. But, it is good to analyze both the broader market and a more defined market to get a good picture of what is going on.
|Posted on April 8, 2016 at 1:55 PM||comments (0)|
The thought of packing, moving and living in a new home can be exciting and stressful at the same time. But before that can happen, prospective buyers will be critiquing your home as they decide whether your home suits them for their future residence.
Buyers like to envision themselves living in a home they wish to buy. They want to see their own family, loved ones and day to day life in your house. The article below gives a few recommendations for sellers, but one of the biggest things sellers can do, is to clear out clutter! I cannot emphasize this enough! Keep counters clear, and have minimal items on shelves and walls. Remove excess furniture, yes, that is considered clutter, especially when it excessive and it makes a room feel smaller. Keep coffee tables and side table items to a minimum, for example, a lamp, flowers, a decorative candle or vase.
Other items I agree with are: to update the home with a fresh coat of paint, preferrably a neutral color, and repair minor maintenance items, for example leaking faucets, holes in walls, tears in vinyl flooring, etc. Speak with your agent about larger maintenance items, as some may be used as negotiation items and may not necessarily need to be replaced prior to selling.
I offer prelisting consultations to give you insight on what local buyers want to see! I can research the local market on the homes that have sold and what your current competition is and how to best prepare your home for sale.
Give me a call today! Sancia 760-925-2419