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Spring is the time of year that generally offers new hope to peoples’ outlook… kind of a new look at life!  The Charlotte area is not accustomed to the type of winter we had this year, so it may very well be a time that means more today than a few years ago. The economic indicators as reported by the various agencies appear to show signs of a recovery in the making. Much can be said about the economy, it has as many scenarios as there are people. However, like the anticipated blooming of Spring flowers, most people want to anticipate a sprouting of new hope. This is especially true for the housing market.

The Charlotte Metro area has had its share of depressed sales and pricing issues. We fared better than most, however that is little consolation to those that it has affected. The answer to the question “What can I do to make this better?” is mostly dependent upon the individual’s reality. From the point of view of the Appraisers and the Real Estate Agents, two of the factors that are important are desirability and condition.

If you are a homweowner and are looking to sell your house, doing some “leg work” and some “seat work” can help you decide where to put your effort and money. Checking out your neighborhood (more than just your street) and looking at the other houses will give you a feel of what improvements or maintenance, if any, would be helpful to your house to be complementary to the market area. You want to be at least on par with the competition. This will help you to budget your time and money. You want to make improvements that will enhance the appeal and return the most to you. A way to get an even better feel is to visit an “open house”  in your area to see what the interior is like compared to yours. Recall the old saying… “you can’t judge a book by its cover”? This is especially true with houses.

Once you have done the “leg work” you can research online, the “seat work”, to see the neigborhood’s market conditions. There are several sites that can help you with this investigation. One site which may help sellers/owners and  also buyers is Homeinsight. Here you can see what’s happening in your neighborhood and have the ability to contact a local real estate agent. 

There are many sites that provide you the various models that analyze the geographic market area. One that is well known is Zillow . These are useful for researching a wider range of search options. I refer to these sites for relative data rather than specific to get multiple input on a particular appraisal assignment. There’s no such thing as a “one stop shop” in developing an opinion of value.

Please remember that any online research you do will be only as good as the available information, how that information is obtained and presented and how it is interpreted. I’ve always believed that Knowledge is Power, but I also believe that “a little” knowledge can be dangerous…. research thoroughly!!

Some may ask why I, as an Appraiser, am writing about these tools. Well, it is my opinion that a well informed seller or buyer or professional is more likely to help me do a better job in my analysis. No one is all knowing or has the ability to be all encompassing, therefore any information or input any involved party can supply helps me do a better job for them.

If we can help you with your appraisal needs or if you simply would like more information, please feel free to contact us.

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