Many real estate experts are beginning to realize that the doom and gloom predictions about the market from a year or two ago may have been a bit over exaggerated. Unfortunately, if you’re trying to sell your home, it’s not just your property that is on display to prospective buyers, but your whole neighborhood. If you’re wary of AVMs but still want a quick estimate of what your home is worth, the Federal Housing Financing Agency’s house price index (HPI) calculator applies a more scientific approach.
Most real estate agents agree that since New Mexico did not experience as major a boom as other areas of the nation, they did not experience as much of a bursting of the housing bubble. Cities with recreational dispensaries saw home values increase almost $23,000 more over the past five years than cities where pot was illegal.
Zillow states that often times, they use all the data in a county to calculate. Zillow is also pretty good with home prices, too. For home buyers and home sellers, knowing current market value helps you make smart decisions about how much to offer on a house you want, or how to price a home you’re selling.
Family attractions are always a huge pull for families, and the more family-friendly an area, the better off its real estate market. Today’s study found that, for homes where 1 gigabit-per-second broadband was available, transaction prices were over 7 percent higher than homes located where the highest speed available is 25 Mbps or lower.
Interestingly Miami, which has a weaker economy and experienced the fastest decline in home prices during the recession, is the only other large metro area to see major increases in home sale prices over the same period. Home values dropped 0.09% nationally in November, with a 4.24% year-over-year increase, according to the Quicken Loans HVI.