Determining the value of home can be sometimes a difficult task for a buyer. Just as there are many factors that can impact a home's value, the details and potential success of your offer also rely on several pieces of information. If you are thinking about buying a home, you may want to consider the following tips to gain a better understanding of property values. By utilizing these recommendations and discussing the findings with your agent, you might be able to not only find the best house for your money, but also a home that surpasses all of your expectations.
1. Investigate Locally When searching for a new home, many prospective homebuyers start by checking local listings. After the search is narrowed down to a few neighborhoods of interest, walking or driving through these areas can give you a better idea of overall neighborhood quality. As you narrow your search, it might help to attend a few open houses in the local market to gain an understanding of pricing trends and witness how much interest is being paid to the homes already for sale.
In the early stages of shopping for a home, it can also be helpful to have your agent perform a Comparative Market Analysis. This report will show you the past sales prices of homes in the area and allow you to contrast those statistics with the current homes for sale.
2. Get behind the numbers After you have compared the list prices of the homes you are interested in with other homes that have sold in the area, there are a few assessments of value you may want to consider. The most telling estimate of a home's value will be a professional inspection. Another statistic that will provide you an estimated value of a home is the assessed tax value. However, as the assessed tax value sometimes doesn't take into account the amenities of a home, upgrades to the property or the nuances of the housing market, this value can vary from a professional estimate. Work with your agent to compare the details of your appraisal and the assessed tax value, taking into account all of the home;s amenities and any issues of particular importance to your family, including such factors as the quality of the neighborhood, local schools and even how the home matches up to your long-term goals.
Spacious and bright ground floor corner unit overlooking the Caribbean. Deep white sand beach. 3 Bed/3Bath 2092 sq. ft. This unit is a terrific rental and is in pristine condition. Executive furniture package. Set in lush landscape with amenities such as gym, ocean front pool and jacuzzi, tennis, elevators and a one car garage. You can choose to sit on your screened in porch or an unscreened porch depending on your preference. Avalon has a strong holiday rental history on the best strip of sand beach in the Seven Mile Beach area. Close to shopping, restaurants and entertainment, this condo offers everything to the very discerning buyer. Read complete details at our Coldwell Banker listings page. Asking $1,940,000.
From Aruba to Bermuda to the Cayman Islands, when conversation turns to the purchase or sale of exceptional properties, the name heard most often is Previews.
The Coldwell Banker Previews Program has earned a superior reputation for succesfully marketing luxury properties. The Previews' program was founded in 1933 by Henderson Talbot, a young entrepreneur who was one of the first to market real estate beyond his local area. He specialized exclusively in marketing fine properties nationally and internationally, which allowed Talbot to place these luxury properties in front of the clientele who could afford this type of home.
Acquired by Coldwell Banker Real Estate LLC in 1980, this luxury home marketing program continues to build its success through the Coldwell Banker Previews International program. Through the Previews' program, Coldwell Banker has represented an impressive array of the world's most fabulous real estate. In fact, no real estate company in the world sells more homes over $1 million dollars than the Coldwell Banker Previews Program.
Exceptional properties require exceptional marketing, and through the Coldwell Banker Previews International program, we have the tools to assist you in buying or selling your luxury property. Currently, we handle an average of $153,000,000 in luxury home sales every day.
Coldwell Banker Previews Properties enjoy a Prefered relationship with Unique Homes. This publication offers luxury homes for sale, and reaches both the largest number of paid subscriptions in the world and the global editions of the Wall Street Journal and the New York Times.
Ask any of the agents in Coldwell Banker Island Affiliates about our Previews' program. They will be pleased to present properties which qualifiy for this exceptional marketing effort.
In regards to single family homes, exclusive ownership allows home owners to alter their home and surrounding property in nearly any way. While building codes may prevent certain home additions and other large-scale renovations, owners of single family homes can adapt their homes to meet their unique goals.
The owner of a condo is not always allowed to make such radical changes to their property. When purchasing a condo, owners are subject to the rules and regulations of the condo association or board. Typically composed of fellow residents, this governing body collects dues from condo owners to conduct ongoing maintenance of shared areas and perform any unexpected repairs. As part of the agreement with the condo board, new owners will be informed of what types of changes can be made to the interior and exterior of their property. In most cases, condo owners possess the same type of exclusive ownership inside their condos as homeowners, yet are limited in exterior alterations to maintain the uniformity of the community.
If you are thinking about purchasing a condo, it is important to read the Covenants, Conditions and Restrictions (CC&Rs) before making a commitment. These documents include all the rules condo owners must follow and can vary widely between complexes. If you have indoor pets or other specific needs, make sure these are addressed in the CC&Rs to prevent any unwanted surprises. If you don't understand any part of the CC&Rs when purchasing a condo, you can try to gain clarification from the director of the condo association.
While the concept of shared ownership might seem limiting to potential owners, there are certainly plenty of benefits. For instance, the owner of a single family home is solely responsible for any problems with the properties, incurring all costs of needed repairs. However, the dues paid by condo owner cover many repair costs, both inside and outside the home. Furthermore, condo ownership can also provide access to amenities, such as pools, spas and recreation equipment outside the budget of a home owner.
Regardless of location, either a single family home or a condo can be the right fit for the right family. To make the most informed decision, all prospective homebuyers should reflect on their own lifestyles and priorities and how they relate to the different types of property ownership. While there may be many differences between house and condo ownership, the goal is always the same - finding the best home for your family.
Lerna provided the best experience when I sold my property and also when I rented my apartment. She is highly efficient and very professional. She found a buyer in no time at all. She really cared that I found a suitable tenant and went above and beyond to ensure a smooth process in both transactions. She also followed up to make certain that the tenants were comfortable. I thank our mutual friend for recommending her. If you’re looking for an experienced, top notch realtor, I would unreservedly recommend Lerna for your real estate needs.
Winsome
Testimonial for Lerna Phillips
We are in the US and reached out to Florence through a google search to purchase property on Grand Cayman “site unseen” and having never visited the area. She provided excellent ideas and suggestions and within a few months we had closed on our new Grand Cayman property. You could not ask for a more diligent and attentive sales agent. We were in constant contact by e-mail and telephone and Florence was highly responsive and a true partner in our search. We highly recommend her!
Anonymous
Testimonial for Florence McGrath
Our experience with Quatro was just great. Quatro has a natural ability to make you feel safe in his hands. His judgement and advice was spot on! Thank you Quatro, you've made such an amazing impact on our lives!
Anonymous
Testimonial for Quatro Hatch
If you need a thoughtful, honest and hardworking Realtor, EJ is who you should call. EJ is an excellent communicator and was always able to provide answers to our questions/concerns. She definitely has the experience, knowledge, and personal skills in managing real estate sales and investments.
Joan Fitterling
Testimonial for EJ Bodden
EJ, thank you for your service regarding my property listings. I am impressed with the manner in which you treat me as a client. It leaves me with the feeling that you have my best interest at heart. In addition, I am confident that you provide sound advice based on trends that Coldwell Banker gleans from the current market.