BEAVERTON, Ore./ May 16, 2018 (STLRealEstate.News) — “Location! Location! Location!” are the first three rules of real estate, but “Condition! Condition! Condition!” are the next three when valuing comparable houses, says David and Kellie Kent of Kent Family Home Buyers.
When homeowners are about to sell they naturally look up their house’s value online. What they don’t realize is that online websites don’t know about the condition of their house. In fact, many of those sites make an assumption that the house is in very good condition and toward the higher end of the market but, of course, that’s often not the case.
Top-of-market houses are the ones in excellent repair with the latest, stylish finishes, think of an HGTV reveal. Bottom of the market are the “fixers”, meaning houses that are outdated or need maintenance, or both. And there is often a huge price difference between them. But it’s difficult for most people to be objective about where their home falls on that scale.
And valuing a house’s condition is a complex skill, there are many variables: An updated bathroom, stylish lighting or hardware, fresh paint, a funky layout, plumbing or electrical problems, etc.
So How Can You Tell What Your Home Is Worth?
“We always first look at comparable, sold houses (comps) in terms of location, size, age, and major features,” says Kellie Kent, co-owner of Kent Family Home Buyers. “Once we have valid, sold comps we spend a lot of time looking at the pictures and comparing their condition to the subject house. So, for example, an old kitchen vs a new, stylish one may make a difference of $30,000 or more in value.” Just like on HGTV.
Also, in Oregon, old, buried oil tanks, a broken sewer line, and Radon gas, are very common condition problems. Most homes have at least one and sometimes all three. They can be very costly.
“We love fixers. Our business is all about making it fast and easy to sell a home, regardless of condition.” says David Kent. Kent Family Home Buyers will buy “as is,” with cash, and very fast. Sellers can call 503-822-0248 to avoid the stress and expense of repairing, updating, cleaning, listing, praying, etc.
SOURCE: Kent Family Home Buyers/PRNewswire.com