{"id":445,"date":"2006-09-26T12:14:50","date_gmt":"2006-09-26T19:14:50","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=445"},"modified":"2006-09-26T12:15:01","modified_gmt":"2006-09-26T19:15:01","slug":"blogoff-post-68-many-factors-affect-homes-value","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/445\/blogoff-post-68-many-factors-affect-homes-value\/","title":{"rendered":"Blogoff Post #68: Many factors affect home’s value . . ."},"content":{"rendered":"

This is from my Arizona Republic<\/i> column<\/a>:<\/p>\n

Buyers will try to compare homes on a price-per-square-foot basis, but this is useful only for highly comparable homes – similar square footage on similar lots in similar neighborhoods.<\/p>\n

Same subdivision is good. Same builder is better. Same exact floor plan is best.<\/p>\n

The more differences there are between the homes, the less comparable they are and the less useful it is to compare their price per square foot.<\/p>\n

There are a lot of reasons for this, the three most important being location, location and location.<\/p>\n

The desirability of the underlying dirt is the overriding consideration. Even within the same subdivision, it matters where the lots are located, how big they are and what value-added features (or value-subtracting detractions) they are near.<\/p><\/blockquote>\n

We go on to consider some other factors that can influence the value of a home: single versus multi-story and the amount of variety in the shape of the exterior perimeter.<\/p>\n

But wait. There’s more.<\/p>\n

Ultimately, though, price per square foot can be misleading because it tends to treat all space equally.<\/p>\n

The costliest space in a home is the kitchen. After that come the bathrooms and any space with running water. Mere bedrooms, dining rooms, family rooms, game rooms, dens, etc., are very cheap by comparison.<\/p>\n

The exterior walls of the home are expensive because they have all the framing, the heavy insulation and the wiring. Interior walls are wood framing wrapped in sheetrock.<\/p>\n

True value-added features matter a lot: Extra bathrooms, soft-water loops, security or home-theater pre-wiring, central vacuum systems, fireplaces, etc. Relatively unimproved extra space matters a lot less in pricing a home.<\/p>\n

This is why 1,200-square-foot homes can sell for a lot more per square foot than 2,400-square-foot homes.<\/p><\/blockquote>\n

And, to think! — all that comes into play before we even get<\/i> to the unzillowables…
\n<\/p>\n

Technorati Tags: arizona<\/a>, arizona real estate<\/a>, phoenix<\/a>, phoenix real estate<\/a>, sellsius 101<\/a>, real estate<\/a>, real estate marketing<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

This is from my Arizona Republic column: Buyers will try to compare homes on a price-per-square-foot basis, but this is useful only for highly comparable homes – similar square footage on similar lots in similar neighborhoods. Same subdivision is good. Same builder is better. Same exact floor plan is best. The more differences there are […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,5],"tags":[],"class_list":{"0":"post-445","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-marketing","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":204,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/204\/last-days-of-the-single-family-homestead-in-frontier-las-vegas\/","url_meta":{"origin":445,"position":0},"title":"Last days of the single-family homestead in Frontier Las Vegas?","author":"Greg Swann","date":"August 13, 2006","format":false,"excerpt":"They have this amazing innovation in Las Vegas. It's called a newspaper, and what it is is a daily detailed run down of important facts with no editorializing, which they somehow manage to constrain to the opinion pages. It would be so wonderful to have something like this in Phoenix...\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":753,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/753\/zillow\/","url_meta":{"origin":445,"position":1},"title":"In the trenches with Zillow.com: A working Realtor’s first-hand experience listing a home . . .","author":"Cathleen Collins","date":"December 8, 2006","format":false,"excerpt":"Zillow has had Greg's attention for a long time, going back to an Odysseus post from last February, when we were blogging for our own entertainment. Greg has debunked Zillow, he's defended Zillow, but till this week I've been indifferent. Zillow has held as much relevance for me as Ragnarok\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":325,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/325\/only-in-the-valley-of-the-sun-is-a-home-built-in-the-1950s-considered-historic\/","url_meta":{"origin":445,"position":2},"title":"Only in the Valley of the Sun is a home built in the 1950s considered historic . . .","author":"Greg Swann","date":"September 12, 2006","format":false,"excerpt":"There's a charming story in today's Republic about the push to designate a small subdivision of tract homes in Scottsdale as an historic district:With roomy kitchens and big kid-friendly yards, the homes were built during Scottsdale's boom. Soldiers were returning home from World War II and Motorola came to town.\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":515,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/515\/which-houses-will-sell-local-market-is-slow-but-not-on-life-support\/","url_meta":{"origin":445,"position":3},"title":"Which houses will sell?: Local market is slow but not on life support . . .","author":"Greg Swann","date":"October 6, 2006","format":false,"excerpt":"This is me from this morning's Arizona Republic, a kinder, gentler, less incendiary Greg. (Permanent link.) That marks a year of these columns, 52 on the nose. To tell the truth, I expected to get fired a long time ago. But, if they're not going to fire me, I wish\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":503,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/503\/the-bloodhoundblog-valuation-challenge\/","url_meta":{"origin":445,"position":4},"title":"The BloodhoundBlog Valuation Challenge . . .","author":"Greg Swann","date":"October 3, 2006","format":false,"excerpt":"Here's a cute little game for people who think they know a thing or two about real estate... I'm looking at houses for an investor client who is also a close friend of the family. He picked out a house he was interested in, and, as a matter of course,\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5\/sky-falls-as-predicted-none-injured\/","url_meta":{"origin":445,"position":5},"title":"Sky falls as predicted, none injured","author":"Odysseus","date":"November 11, 2005","format":false,"excerpt":"As has been persistently predicted for more than 18 months, the sky has at last fallen in the Phoenix real estate market. This per the Arizona Republic. The median price for residential housing actually went down by one percentage point in October, the first time this has happened since December\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=445"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/445\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}