Hey folks, hope you guys are doing well and enjoying the, uh, the fun summer that we have as the heat is on.
Hey, I’ve got a little something for you that I think you’ll find helpful. As, uh, prices keep increasing here, uh, in Salt Lake City and across the Wasatch Front, a lot of folks are wondering what the value of their home is.
A lot of folks are looking at equity lines, things like that. It’s kind of important to know where you stand on the value of your home.
And what I have for you here is a desktop appraisal. It’s through a company called House Canary It allows us to kind of pull the value of your home from a desktop appraisal point of view.
In a lot of ways, they’re very accurate. In some ways, they’re not quite as accurate, but it’s a great benchmark if you’re kind of wondering where you stand.
And the cost on it, uh, for me to send this to you is, uh, absolutely free. Uh, so it’s something you can just shoot me your email that you want one of these and I can get you taken care of.
Anyway, what is this? What does it, uh, what does it matter to you? Um, quite honestly, great data here. It shows you kind of the present value of your home, really the, kind of the range of your home. It also shows you if you want to rent your home it kind of gives a ballpark of what the rent could be in addition to it kind of shows you, um, what homes have sold for your neighborhood.
You know, similarly in the last 12 months, it kind of shows you projected growth and, um, you know, we’ll see how accurate that is, but, uh, it’s good to have.
But going on to page two here, this is where it gets kind of fun. It shows you right here. These are recently similar comparables.
These are homes that have sold in your neighborhood in the last year or so. So it shows the subject property here and it It shows you the ones around it.
It shows you which ones in green are really similar to the subject or your home, and it shows you ones that are kind of moderately similar.
So it’s kind of a way, if you’re wondering what your neighbor’s house sold for down the street, you know, you can find out right here.
Um, moving on, it shows you also which ones are active, active listings. So some stuff has come up in the neighborhood recently or not too long ago.
You can kind of get an idea of what things are going for and again, how they compare. So with this particular home, there’s nothing that’s highly similar.
There’s just stuff here in yellow that’s moderately similar and then things that aren’t very similar at all, uh, more expensive homes.
But it shows you how those all line out, shows you the dates that they went on the market for, or the square footage, sort of all the data that you want to know.
From there, it kind of does a historical approach, last four years kind of what we’re homes have sold for. I’ve noticed that these are pretty similar to the ones in the most recent years, but sometimes it’s nice to have data that goes a little bit further back.
And again, it shows you which ones are similar, which ones are moderately similar, and then which ones aren’t similar at all.
Um, finally, a couple other cool things. It kind of does a breakdown of square footage, the average square footage, you know, that there’s in this case, between 2,300 and 3,200 square feet there’s a hundred homes that kind of fit in a little over a hundred that fit in that market.
It kind of shows you the size and the neighborhood and then the size also of the lot sizes for whatever that is.
That’s worse. And then, um, bedrooms and bathrooms. This is a five bedroom, three baths. So it kind of shows you the number of homes most in the area are four bedroom, three baths, you know, so it kind of gives you a breakdown there.
And it also shows you the age of the homes and most homes in this particular neighborhood are between 61 and 76 years old.
And this one’s between 46 and 61. Um, and finally, this is pretty cool. I think this is really pretty cool.
Uh, days on market, there’s a data analysis. So it kind of shows you how things flow. So in the halfway through the year, like last year, as we get into this time of year in the summer, the amount of listings goes up and then we hit the beginning of next year, the year.
And then we have that spring buying rush where things go down and the days on market goes down and it kind of goes back up again.
So that’s kind of interesting, kind of showing you when might be a good time to buy. And then finally, kind of the months of supply right now, we’re up around four months where, you know, before COVID days, we didn’t even have two months.
And then finally, this risk of decline, this is really cool as well. It just shows you, you know, stuff’s not going to go down in these neighborhoods.
Most all of them I’ve seen have been green. Which is good. We’ve got stability, right? So that’s pretty much it.
There’s a little glossary at the end. And that’s pretty much it with our little disclaimer. Great little report. If want one, please just shoot me an email with your address and I’d be happy to send one for you.
Thanks so much for watching and we’ll talk to you soon. Take care.
