Five Items that Impact Property Values

Some the features that increase property values are obvious—like a remodeled bathroom, a modern kitchen, or a sought-after neighborhood. But here are a few features and circumstances you have not have realized can affect property values.

1. The neighbors: Not every neighborhood or community has an HOA that can keep the neighbors from going overboard with decorations or neglecting to care for their home. Homes adjacent to crazy neighbors can potentially be undervalued.

2. Trendy groceries and coffee: Recent statistics suggest that if your home is a short walk from popular grocery stores like Whole Foods or coffee chains like Starbucks, it can actually appreciate faster than the national average.

3. Mature trees: A big beautiful tree in the front yard is enviable, and it’s not something that can be easily added to any home. Homes with mature trees tend to get a little boost in value.

 4. Parking: This isn’t too much of an issue if you live in the suburbs or in a rural area, but residents in dense cities can have real problems with parking, and homeowners might need to rent a spot just to guarantee a place to park each night. That’s why having guaranteed parking in urban areas will raise property values.

 5. The front entrance: First impressions matter to buyers—many will cross a home off their list within 10 seconds of stepping through the front door. An appealing front door, a friendly entryway, and a functioning doorbell are all necessities for getting top dollar.

Coldwell Banker United, REALTORS® – Metropolitan
Katie Day, REALTOR®
2 Greenway Plaza #150 Houston, TX 77046

Phone: 832.317.6006
Email: katie@movemetotx.com
Web: http://www.katiedayteam.com | http://www.movemetotx.com

Curious about home sales in your neighborhood?

I’m frequently asked about current real estate conditions and sales throughout the city.

Whether you are:

  • Renting and thinking about buying,
  • Homeowners that are considering selling,
  • Prospective investors looking to see what’s out there, or
  • Just curious about the sales price of their neighbors’ homes…

People want to know what their home (and their neighbors’ homes) are worth!  Since Texas is a non-disclosure state, transaction sales prices are not disclosure to the public.  Sale prices are not required to be submitted to the county tax office.

Because of this, sites like Zillow and Trulia aren’t always accurate (Zillow reports a median error rate of 4.5%).  Zillow even states on their website that they are unable to compute accuracy of their Zestimate (they use the Tax assesor’s value in Texas).

zillow-data

Source: Zillow.com

If you truly want to receive an accurate overview of sales in your area, you need to work with a REALTOR® — we can provide you pricing direct from the MLS, where accurate sales numbers must be entered.

Interested in receiving a monthly Sold Home report of homes in your area?  Sign up HERE.