When you’re shopping for (or selling) a home, it’s normal to wonder why one home is priced five or six figures higher or lower than another home on the same block. Some factors that influence a home’s value are obvious, but what about the price influencers that are a little less obvious and more difficult to measure?
HouseCanary examined five “hidden” factors that can have an impact on home value:
We controlled for other value influencers, such as location, lot size, gross living area (square footage), and more, so we could isolate the effect of these hidden factors. And we found that the relative importance of these factors can vary widely according to where the home is located.
The view angle calculates the maximum angle (in degrees) that opens up to scenery or nature from your backyard. The degrees measured are 0 to 180, showing the maximum angle of scenery viewable from your backyard, with 0 indicating that there is no scenic view at all from your backyard, and 180 indicating that the view is scenic from every angle.
The frontage length is the length (in feet) of the street-facing side of the home’s lot. It doesn’t always correlate perfectly with lot size because not all lots are square, but it indicates the amount of curb-facing home relative to other homes in the area—and believe it or not, homes with more curb to appeal do tend to have more curb appeal in some parts of the country.
Most home buyers in the U.S. not only want a nice view from the backyard, but they also don’t want someone else’s nice view to include their home or yard. The angle of backyard exposure to neighbors is a measurement of how easily neighbors can see into a home and backyard, thus potentially mitigating privacy. It’s also measured in degrees from 0 to 180, with 0 indicating no exposure at all of your backyard or home to neighbors, and 180 indicating total exposure.
How private is a home, and how much will that matter when it comes time to sell? We examined backyard exposure to neighbors, backyard slope, distance to neighbors, home density, and other metrics to determine a privacy score and show how much privacy matters in different parts of the country.
Would you prefer your backyard to slope up or slope down? This is a factor that many buyers value, although they might not be able to verbalize it. We found that homes with downhill-sloping backyards tend to be more desirable.
Still, this doesn’t necessarily mean that homes with flat yards are neutral or undesirable; flat yards are more desirable than yards that slope uphill. But it does mean that slope matters in a lot of the country, most notably counties in Minnesota and Indiana, both states that contain a mixture of mountains or rolling hills and flat terrain. And the backyard slope trend is more pronounced in Seattle than Los Angeles, which are both hilly metro areas, suggesting that perhaps Seattleites spend more time on their back decks looking at the cityscape than Angelenos do.
Methodology: HouseCanary built regression models to predict value based on view angle, frontage length, backyard exposed angle, privacy score, and backyard slope. In these models, we also controlled for common explainers of value (location, building area, lot size, etc.). We included 1,836 counties for view angle, privacy score, and backyard slope; 1,835 counties for backyard exposed angle; and 1,581 counties for frontage length.
Schools can have a big impact on property value and quality of life. If you're buying a home, here are a few reasons local school ratings matter – even if you don't have kids.
According to a recent National Association of REALTORS Profile of Home Buyers and Sellers, 25 percent of homebuyers listed school quality and 20 percent listed proximity to schools as deciding factors in their home purchase. Another survey conducted by Realtor.com showed that 91 percent of the people surveyed included school district boundaries in their decision-making process. You may be surprised to learn that not all of the shoppers involved in the studies had kids.
2.More money spent on schools means more money spent on homes
There's a correlation between school expenditures and home values in any given neighborhood, according to the National Bureau of Economic Research. Their report, "School Spending Raises Property Values," found that for every dollar spent on public schools in a community, home values increased $20.
3.Higher school ratings equal higher home values
A Brookings Institution study looked at the 100 largest metro areas in the country and found an average difference of $205,000 in home prices between houses near high-performing and low-performing schools.
4.And good school ratings help homes maintain value
While changes in the economic landscape and local area can ripple across the market, a great school district can sometimes help insulate a home from market fluctuations.
5.Great school districts usually mean great neighborhoods
Often there's a correlation between super school districts and safer neighborhoods, better shopping and transportation and great public amenities – like parks. All of these factors increase the desirability of the neighborhood, which translates to higher home values and a better deal for you when it's time to sell.
Looking for a home near a great school? I can help you get started!!-->
As a buyer, getting a mortgage can be difficult if your financial situation doesn't fit into neat little boxes — a predictable salary that can be documented with paycheck stubs and W-2 forms, a stable employment history with no interruptions and a gleaming credit score. And as a seller, closing a deal on your home can be difficult if borrowers are having trouble getting approved for loans. Wouldn't it be great if you could take out the middle man and find another way to complete the transaction?
Seller financing, also referred to as Owner Financing, is just what it sounds like: instead of the buyer getting a loan from the bank, the person selling the house lends the buyer the money for the purchase.
The buyer and seller execute a promissory note providing an interest rate, repayment schedule, and consequences of default. The buyer sends his monthly mortgage payments to the seller, who gets to earn interest on the loan, perhaps at a higher rate than he could get elsewhere. Seller financing arrangements are often for a short term, such as five years, with a balloon payment due at the end. The idea is that the buyer will be able to refinance before then.
As the parameters for searching for homes that offer Seller Financing in Orlando are unique and limited to the MLS, please fill out the form below or contact me directly with your specific areas and criteria and I will send you an email with all available properties. Otherwise, feel free to click the hyperlink for all available Seller Financing homes in Orlando and surrounding areas.
It happens a lot. The dream vacation on the beach, at the lake or on the ski slopes suddenly morphs into a dream of buying a piece of paradise. There are several vacation homes in Orlando and they are all within a few minutes of the world famous Disney theme parks to accommodate visitors from all over the world.
If you're considering buying a holiday home in Orlando, here are some preparatory steps you can take as you embark on your search: