Quote:
Originally Posted by BrianL99
I won't dispute that happens, but "professionals" come with various degrees of competency, especially in the Real Estate business. I would have had 3 or 4 Brokers give me a market analysis.
As you alluded to, owner's really have no clue what their property is worth. They base their estimates on emotion and anecdotal stories they hear from neighbors or read on FaceBook.
Two commenters on here, went into long dissertations on how to do a "market analysis" on-line and completely left out the concept that LOCATION drives real estate values.
When I bought in TV, I had spend exactly 1 hour here. I went back to Boston, took out maps of TV and decided what was the best place in TV for me to live.
1. Which Square did I want to be close to? In a recent FaceBook poll, TV residents prefer Lake Sumter Landing, 2:1 over the other Squares. Easy choice.
2. Where were the golf courses I wanted to play, located?
3. I'm a less than 4 minute walk to a Regional Rec Center and 2 minutes to the community pool.
I'm between 466 & 466A and 3 minutes in my golf cart to Lake Sumter Landing.
That information is the intangible that drives real estate pricing and it's hard to quantify by a non-professional.
Take essentially the exact same house as mine, 2 miles in the wrong direction from Sumter, it's almost a 10% difference in selling pricing. Is it worth that much more? Of course it is. Location, location, location.
Those are things lay people don't understand.
I want to buy another home in TV, I want a 3 car garage. I need to be less than 5 minutes from Sumter Landing, without driving over a bridge. If you think I'm the only crazy person who thinks that way, you'd be mistaken.
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Location may be important to you. Others see a community that can be driven end to end in 30 minutes with golf courses, rec centers, and town squares equally spread throughout. One village is not better than the next.
These people, myself included, look at price and home features. We try to find the best deal. We recently bought a CYV $70,000 below market price with bond paid, completely renovated, maintenance free, an extended lanai that is glass enclosed with AC, large yard, and extended rooms and garage. All we had to do was move in. No extra work is needed.
Location was not a factor. We knew everything we want will be minutes away whichever village. The home we chose has three town squares, a plethora of golf courses, rec centers and a ridiculous amount of commercial under 12 minutes away in all directions. Many under 5 minutes. The furthest will be Eastport at 18 minutes away. With our cash savings and a home that requires little maintenance and no remodeling, we are planning many extravagant vacations.
This is a well-planned community with cookie cutter homes and amenities spread equally throughout. Some of us "amateurs" (as you describe us) are tickled pink when we SPEND LESS to get the SAME QUALITY of life.