Real Estate Q & A – Episode 2

Hello everyone,

Welcome to our Q & A – Episode 2, here are today’s questions:

Q: How important is square footage when deciding how much a home is worth?

A: Square footage is only one datapoint in a larger set of features that should be considered. Square footage does not detail amenities such as parking, views, finishes, number of rooms, efficient flor plan, or location. It is a useful doublecheck for estimating value, but all the factors must be considered.

Q: Is that website estimate of my home’s value accurate?

A: Maybe! Online property estimates are created by complex algorithms that try to account for many of the characteristics and amenities of a home and compare them to sales data. These estimates are limited, and of course are only as good as the data that is provided. So maybe, but probably not. The best estimate can only be provided by a local real estate profession that has had the opportunity to tour the property. We offer free, no obligation opinions of value so do not hesitate to contact us!

Q: When is the best time to buy or sell a property?

A: Sell or purchase when it makes sense for YOU! If purchasing a home to live in, determine what you can reasonably afford and see what is in your budget that you could enjoy coming home to. If purchasing as a rental investment, run the numbers and let them be your guide. Sellers usually have a reason that has them considering a move. If you try to time the market you are likely to end up chasing the market. Work with your agent to determine what your options are to make your move today!

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