If you’re looking at price per square foot as an accurate way to gauge the value of a house you’re likely going to fail! Price per square foot is one of the most simplistic methods to determine a property’s value, but that doesn’t stop websites like Zillow from presenting the number like some sort of gold standard…which then causes consumers to place too much importance it is as a valuable tool! If you plan to sell (or buy!) a house in the near future make sure you understand why price per square foot is only a small piece of the puzzle when it comes to determining a property’s market value, and how to better determine value!
Thinking about buying or selling real estate in the greater Iowa City area? New to the area?
✅ Thinking about SELLING a home? Grab a copy of my home seller guide here! https://homeiowacity.com/seller-guide-download
✅ Thinking about RELOCATING? Be sure to download my free Iowa City area relocation guide here: https://homeiowacity.com/iowa-city-relocation-guide/
✅ Thinking about BUYING a home in the Iowa City area? Grab a copy of my home buyer guide here! https://homeiowacity.com/free-home-buyer-guide/
❤️ If you’d like to talk with me about BUYING or SELLING real estate in the greater Iowa City area, feel free to call/text 319-594-4455 or email me at Emily@RightMoveIowa.com. I’d love to talk with you!
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I am a Realtor® at Lepic-Kroeger, Realtors, located at 2346 Mormon Trek Blvd., Iowa City, IA 52245. I am licensed to sell real estate in the state of Iowa.
00:00 Why price per square foot is not an accurate way to determine value
00:47 Intro and about Emily
01:20 Price per square foot is fake news! Why?
01:50 Why house difference matter even when size is the same
02:50 Comps are a better way to determine house value
03:36 What makes a good comp?
03:54 Adjustments and comps
04:42 Price per square foot can fail during volatile market conditions
05:24 Price per square foot can miss differences in build quality
06:05 Larger homes have a lower price per square foot
06:17 Above grade vs below grade price per square foot
06:42 Why buyers and sellers should care
07:06 Projects with ROI?
07:20 Conclusion
