Things that affect home values

SHOWINGS AND FEEDBACK

The items below have come from over 25 years of conversations regarding homes for sale. They are a compilation of things we have heard from our buyers, people attending Open Houses we have hosted, other agents and appraisers.

Factors that DIRECTLY affect a Home’s Resale Value

Can’t Change:

1. Macro Location – Where you are in the city relative to the most expensive houses
2. Micro Location – Location within a Neighborhood or Subdivision (noise, privacy, adjacent use)
3. Access – Busy road; Box striping at the neighborhood entry because of traffic backups (hard to get in and out of)
4. Corner Lot (lack of privacy; setbacks)
5. Nextdoor to the neighborhood Swim/Tennis facility (lights, noise)
6. Next to neighborhood Detention Pond (maintenance, bugs, unknowns, unsightly)
7. Straight ahead at a “T” intersection (headlights at night)
8. Way back in large subdivision (can’t give easy directions to visitors)
9. Near High Tension Powerlines (stigma, fall zone issue with some loan programs, unsightly)
10. Affected directly by underground Pipeline Easement on or beside
11. Fronting on a Busy Road – Double Yellow Line on Google
12. Elementary School District Scoring
13. Irregular Lot Shape
14. 100 year Flood zone – requires insurance and imposes restrictions on use
15. Creek buffer – imposes restrictions on use and potential
16. Steep Topography
17. Noise from Interstates or airport flight patterns
18. “Culdevision” (one short street with a culdesac; not enough of a neighborhood)
19. Front door below street level (curb appeal / possible drainage issues)
20. Steep Driveway (less desirable)
21. Unsightly Neighbors and Views
22. Smells from offsite facilities (water treatment, landfill, paper mills, etc)
23. Floorplan Layout and Flow
24. Synthetic Stucco (possible but very expensive)
25. Split-level style home (hard to renovate and expand; limits buyer appeal)
26. Master Bedroom Lower than main level (odd floor plan)
27. Less than three bedrooms on the main floor of a ranch style home
28. Walking through the front door and directly looking at a wall or stairs
29. Non-Finishable Basement (Ceiling heights lower than 8ft)
30. Main Level Ceiling heights (the higher the better)
31. Garage (Size vs Price Point)
32. Garage below the main level (Drive Under)
33. Garage Front Entry (vs Side Entry)
34. No Basement when most of the neighbors have one
35. More that 2 sets of Stairs
36. Priced way above neighboring homes

Could be Changed:

1. Still on Septic System when sewer is available
2. Shaggy Landscaping versus other homes currently on the market
3. Shared Master Bath
4. Overall Paint Scheme. Pocket renovations can really expose dated areas and make a home feel disconnected.
5. Flooring Material Consistent throughout (Max 3 different materials)
6. Furnishings match the price of the home
7. Architecture inconsistent from most in neighborhood
8. Dated swimming pool in backyard
9. Improvements that are too personal or not obvious and/or widely valued
10. Deferred Maintenance
11. Unanswered questions
12. Rooms that are not sparkly clean
13. Messy garages and basements
14. Significantly larger or smaller square footage than neighborhood average
15. Smells ( pets, smoke, musty or strong air fresheners = likely hiding something )
16. Class Action Building Materials (Siding products, polybutylene, Chinese drywall, laminate wood flooring, Atlas Chalet Shingles, Zurn Pex plumbing fittings).

Not relevant to a Home’s Resale Value

1. What a homeowner paid for it
2. What a homeowner owes on it
3. What a homeowner wants for it
4. What the neighbor says it is worth
5. What a seller’s appraiser says it is worth (assumed bias)
6. What an agent in another city says it should be worth
7. How much it would cost to rebuild it
8. What the Zestimate is
9. What the County Property Tax Assessment says it is worth

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