Northern Nevada Real Estate   

Many Things Affect Your Value

Lisa Wetzel and Jim Valentine RE/MAX Realty Affiliates 
 

 Many Things Affect Your Value

 

 

Your home is standing tall since you've cleaned, painted, repaired and replaced everything that needed attention to get it market ready. It only makes sense that it will sell fast and at the ambitious price you want and expect. Right? Not so fast. It doesn't always work that way through no fault of yours.

 

Many things outside of your immediate control can have an impact on the value and saleability of your home. It can be something as simple as the home down the street with the unkempt yard, or as complex as problems with governing bodies impacting the quiet enjoyment of the community. Regardless of what it is, if it exists you should be aware of it. Your value can be enhanced or diminished.

 

External factors can include a loud or vicious-appearing neighbor dog or other pet, school ratings in the area going up or down, major local employers hiring or laying off, offensive odors emanating from legal sources, the price of gas if you live where a long commute is likely, new construction blocking your view, or a nosy neighbor that will greet every prospect looking at your home.

 

You may be affected by infrastructure problems in your neighborhood. Perhaps, the roads are deteriorating and there are no funds to repair. The owner of a collector car won't want to chance driving his treasured vehicle where it can be damaged. Water and sewer systems can fail and be costly to remedy. Who is going to pay for the repairs? If you live in a Homeowners Association situation it could be the responsibility of the home owners. If so, how much will it cost each property owner, $10,000, $20,000, or $100,000?

 

Speaking of HOA's, how well is yours run? Many Buyers have an aversion to living under the auspices of a HOA because of their past experiences or scary stories they've heard. Be sure to keep yours on task and keep them from getting too involved in the lives of the owner members. Few people here in the West want to be told how to live. Some HOA officials have too much time on their hands and get a little power drunk with the limited responsibility of their job. They over reach, over control, and drive people away. Others spend the community money on unnecessary expenses, or create stifling new rules, policies or guidelines. That is an external factor that you can help control by paying attention, participating, and providing positive input. A good HOA is a benefit you can sell, but the converse has the adverse effect.

 

Changes in the community can have a major value impact. A developer may start building new homes that directly compete with your neighborhood. A nearby quiet park increasingly being used for more commercial activities changes the character of the area. A new business nearby with insufficient parking for their patron traffic can slip through the approval process designed to prevent such stress on a neighborhood. Changing crime rates and types affect value.

 

Our Advice: It is important to do what you can to make your home marketable. If the external factors affecting your property are greater than the items you can control be careful how much you put into your property when getting it show ready. You might put in more than you will get back. Don't assume all external factors are negative. Most external factors in our region actually enhance value, a reason why people move here. Buyers do extensive internet work and will know most of the external factors affecting your home. Do you?

 

Be aware of your external circumstances and how they affect the marketing of your property. They may be better, or worse, than you think. When you understand your actual position you will be in a position to make good decisions on the sale of your home. 
 
When it comes to choosing professionals to assist you with your real estate needs... Experience is Priceless!
 
Lisa Wetzel and Jim Valentine are real estate agents with RE/MAX Realty Affiliates in Gardnerville. They are short sale and foreclosure specialists and certified distressed property experts.

 

 

Contact them at  

carsonvalleyland@hotmail.com www.carsonvalleyland.com  

 

Many Things Affect Your Value

 

 

 
Lisa Wetzel & Jim Valentine
 RE/MAX Realty Affiliates
1320 US Highway 395 N.
Gardnerville, Nevada 89410
775.781.5472 - Cell
775.783.6854 - Direct
775.552.8585 - Fax
 
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