the GREEN sheet | September 2017
September 1, 2017 by Echelberger Group
WITH THE ECHELBERGER GROUP ON YOUR SIDE, YOU CAN PROPERLY MEASURE THE VALUE OF YOUR HOME
With home values changing constantly and the list of available tools that claim to estimate value expanding rapidly, figuring out the true value of your home may be frustrating. But, as is often the case, a seemingly surefire shortcut can lead to a dead end. Online sites including Zillow and Trulia are frequently far from accurate when listing a home’s estimated value. If going online and plugging in an address does not work, what about utilizing the price per square foot to secure the value of a home?
Unfortunately, it too is just another unreliable shortcut.
“There is a science to determining value, and today’s websites and the old-fashioned price-per-squarefoot method can be very misleading,” noted Doug Echelberger, the number-one real estate agent in San Clemente’s master-planned Talega community since 2002. “For example, the average price per square foot varies from city to city, neighborhood to neighborhood, street to street, and even home to home. For all of Orange County, the price per square foot in June was $440. In May, it was $459. No, there was not a 4% drop in value from May to June. Instead, it illustrates that this data point cannot be relied upon to determine the value of a home.”
“The price per square foot can be used, over time, as a gauge to determine which direction home values are moving. Some months it is up and other months it is down,” added Echelberger. So why can’t the price per square foot be used to zero in on the value of a home? There are way too many nuances that go into the fair market value of a home. The number of bedrooms and bathrooms, the lot size and amount of its usable space, square footage, location, pool, spa, upgrades, amenities, condition, main-floor bedroom, number of stories, school zone, privacy, architecture, floorplan design, view, garages, street parking, proximity to the beach and so on. Does the home back to a busy street? Is it located on a cul-de-sac that has homes on only one side? Is there street noise? The list of questions goes on and on.
By working with Doug Echelberger and his respected team of professionals, your home will be properly appraised and compared to similar pending and recently sold homes, adjusting the value up and down based upon all of the differences. The Echelberger Groups’ unparalleled experience in San Clemente and, specifically, Talega, guarantees that you will have the latest, most accurate information about area pricing trends. The price per square foot alone is not a reliable factor. There are no shortcuts. The market analysis that professionals prepare is by far the most accurate method in determining the value of your home.
Navigating the oftentimes complex real estate market can be daunting, but the Echelberger Group provides the expertise and resources necessary to make it easier for you. More than 23 years of experience has given the Echelberger Group the edge in local knowledge and connections. the Echelberger Group provides a comprehensive range of services, from industry-leading technology—backed by its partnership with Keller Williams Luxury International—and custom marketing strategies to regular updates and prompt communication that makes transactions efficient and stress-free.
For more information, or to be the first to learn about pocket listings, open houses, market reports, and local events visit www.Echelberger.com or call 949.498.7711.
the GREEN sheet | September 2017
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