How much is your Cleveland area home worth?
A house is merely a structure, or a building, and it may seem simple to determine what that house is worth by comparing it to similar houses. Right? Not exactly. Although some lenders and taxing authorities use computer programs and algorithms to calculate an estimated value based on similar homes, a house is worth what someone will pay – which takes into account more subjective data than an estimate generated by computer programs and algorithms.
Home buyers are not just buying structures. They’re buying a community, amenities, convenience and a lifestyle. Without having intimate knowledge of a community, it’s nearly impossible to perform a thorough appraisal. At Fast Appraisals we have been imbedded in your Cleveland area communities, paying close attention to trends, demand and market factors for over two decades. We know that many factors, which don’t show up in computer programed estimates, will impact a home’s value including:
Community: the school system, the safety, the community events, community services and even ease of getting around on bicycles and sidewalks impact what a buyer pays for a home, and therefore what its appraised value would be.
Neighborhood: knowledge of the precise neighborhood your home is located in is critical to getting the appraisal right. For example, there are pockets in the Cleveland Heights, Tremont, Ohio City, Gordon Square, Chagrin Falls and throughout greater Cleveland that could be worth much more than a similar home just blocks away, or one street over.
Amenities: walk-in closets, energy efficiencies, high ceilings, second floor laundry room, kitchen islands, walking and biking trail proximity, outdoor fireplace – these are all amenities that will mean different value adjustments based on where the home is located. For example, in an area with a lot of new construction, a walk-in closet would have almost no impact if all comparable homes also have walk-in closets. Whereas in an area with much older homes and limited closet space a walk-in closet in your home could be worth thousands more to a buyer.
At Fast Appraisals we have in-depth knowledge and field experience in most communities throughout the Cuyahoga, Medina, Lake, Lorain, Portage, Summit and Ashtabula counties. Click below for a more in depth look at the following communities: