Getting an accurate property value can be challenging when using the online home estimators. The online tool may not be pulling property details from up-to-date information. Take a look at our comments about the Zillow Zestimate.
For an accurate home value estimate, go through a real estate broker. And even then, it’s good to dig a little deeper to find out how they are getting the information. A lot of brokers will generate an automated report from the MLS based on a zip code search. This report may include property sales that are already six to twelve months old and may be comparing single family homes to condos. On any given street of the dense, urban landscape in Chicago, properties can vary drastically from new construction to homes that are over 100 years old. This can make the price difference extremely different.
With our diverse neighborhoods and hectic pace of market trends, the Chicago real estate market is complex. At Menard Johnson, we have decades of experience in the market and a deep historical knowledge of trends. We offer a custom market analysis of your home that goes beyond a basic MLS report.
The Menard Johnson custom market analysis takes the following details into consideration:
- Current market trends - how in demand is your type of property?
- Historical trends - what real estate cycle is Chicago currently in?
- Current news - what local and state government news is affecting the market?
- Location - what are the neighborhood trends, public schools and transportation?
- Type of property - what is the size of your home in relation to other properties in the neighborhood?
- Property condition - what is the condition of your heating, air, plumbing, electrical, roof, ventilation, appliances, etc?
- Overall style - what is the style of the kitchen cabinets, countertops, bathroom fixtures and flooring?
- Floorplan - what are the room sizes, storage spaces and general layout?
- Update and upgrades - what types of improvements have been made to the property since the purchase?
- Building materials - what type of construction is the home’s interior and exterior?
- Comparable properties - what have similar properties in close proximity sold for in the past six months?
- Current homes - what’s the price of current comparable properties on the market right now?
Want to get an accurate and up-to-date property value? Or are you wondering if a rehab project will add value to your property? Please contact us for more info.