(Infographic) Where to Look for Hidden Gems in Real Estate

By
Real Estate Technology with ActiveRain
http://actvra.in/4dxs

Pricing a home is more art than science. 

Get beyond the standard information you can search online like square footage, bedrooms, bathrooms, year built, etc. Homebuyers should be on the lookout for some of these hidden gems that may undervalued (or not even included) in the listing price.

We asked the ActiveRain community to tell us what they thought were some of the hidden gems in real estate, it's no surprise that some people thought certain features 'a waste of money' while others thought the exact same feature 'worth every penny!'

But at the end of the day, real estate professionals are in agreement, there are certain hidden gems in a home that have the potential to add long term value for a buyer and might not be actually reflected in the selling price. 

This community sourced data, which we turned into an infographic, allows a buyer to look beyond the obvious things that affect price and identify hidden gems that could add value to the next home they purchase. 

 

To embed this image in a blog post or online article, please use the code below:

 

As real estate professionals, the ActiveRain community sees a lot more homes get priced and sell than any other community on the internet. This makes them uniquely qualified to share with you what are some of the best hidden gems in real estate, those things that often get missed in the listing price but that can add tremendous value for a buyer looking for their next place to call home.

We asked over 1500 real estate professionals three primary questions. Their answers shed some light on the hidden gems every buyer should be on the look out for and also that every seller should consider highlighting when they market their own home for sale. 

 

Rate These Hidden Gems that Frequently are Not Reflected in the Listing Price that Buyers Should Be on the Lookout for.

Each potential gem could be rated

  • not valuable
  • slightly valuable
  • moderately valuable
  • very valuable.....hidden gem!

Here is how real estate professionals saw things.....

Are there hardwood floors lurking under the carpet? If you're a seller, you should play up that angle. Sure, it's going to take a little work from the buyer to make them shine, but based on these results, real estate professionals believe that hardwood floors under the carpet are a hidden gem that doesn't get adequately reflected in the listing price of a home.

Who doesn't want great neighbors? For many people moving in, the neighbors are an afterthought. You meet them after you move in. Real estate professionals however believe there is intrinsic value in having great neighbors. Over 42% of real estate professionals believe having great neighbors is generally not reflected in the listing price of a home but something buyers will ultimately come to value a great deal. 

Unfinished spaces aren't as valuable as you might think, or at least as valuable as we thought. Over 67% of real estate professionals believe that having unfinished spaces in a home (that you could seemingly finish to give yourself more space) adds only slightly or moderately to the value of a home. 

 

These Items are Typically Reflected in the Listing Price. Rate These Items....Are They 'Worth Every Penny' to the Buyer?

Each potential gem could be rated

  • Waste of money
  • slightly worth it
  • moderately worth it
  • worth every penny!

Here is how real estate professionals saw things......

Sellers, in particular, should take notice of these results. Real estate professionals believe amazing views and a new roof are typically worth every penny that a buyer will spend to buy a home with those attributes. How do they know this? Because every day they work with buyers looking for certain things in a home. Most of us can't change the view from our home, but if we have a great one, these results say it makes sense to market the heck out of the view if you are trying to sell. 

As a seller have you been marketing the fact that the home sits on a corner lot? Maybe that's not the best angle. It could be that marketing the fact that home has a large yard is a better route to take. Real Estate professionals seem to agree that a large yard is more valuable than a corner lot. 

Lifestyle attributes are about location, not the physical home. Rate these items that are normally reflected in the listing price based on their value.

each potential attribute could be rated

  • waste of money
  • not usually worth it
  • usually worth it
  • worth every penny!

Here is how real estate professionals saw things.......

Neighborhood quality and schools dominate. Commute times and access to transit and other amenities are rated less high. Which would seem to mean that people are willing to sacrifice being closer to jobs and amenities if it means they can find a home with great schools and a neighborhood they love. 

These results also seem to indicate that lifestyle is pretty important across the board as very few real estate professionals saw any of the lifestyle attributes as a complete waste of money. 

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Re-Blogged 8 times:

Re-Blogged By Re-Blogged At
  1. Dee Toohey 03/24/2014 02:51 PM
  2. Roy Kelley 03/24/2014 04:20 PM
  3. Sheri Sperry - MCNE 03/25/2014 11:20 AM
  4. Thomas Biggs 03/29/2014 08:27 AM
  5. Elaine Stewart 03/30/2014 02:15 PM
  6. Mirela Monte 03/31/2014 01:54 PM
  7. Debbie Reynolds 04/06/2014 07:20 PM
  8. Praful Thakkar 08/10/2015 04:12 PM
Topic:
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Rainer
189,045
Ron Aguilar
New American Funding - Saint George, UT
Mortgage & Real Estate Advisor since 1995

its good to see most of the variables in one graphic, thanks

Mar 29, 2014 09:55 AM #60
Rainmaker
722,023
Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA

Great infographic.  One of the factors that sellers forget about is the green renovations they have made.

Mar 29, 2014 11:22 AM #61
Rainmaker
322,254
Travis "the SOLD man" Parker; Associate Broker
Team Linda Simmons, Enterprise, AL 36330 - Enterprise, AL
email: Travis@theSOLDman.me / cell: 334-494-7846

Great infographic and article. I'm going right now to embed it!

THANX!!

Mar 29, 2014 03:26 PM #62
Rainer
368,426
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Kimo's Lifestyle Solutions

Not surprising to see that neighborhood quality ranks first with professionals, yet there are many consumers who will disregard the quality of neighborhood valuation and choose price as their only consideration and expect to resell at valuations of quality neighborhoods. Simply amazing, isn't it?

Mar 29, 2014 05:10 PM #63
Rainer
4,652
Kevin Frost
FEI Solar / ULG Energy Solutions, Inc. - Scottsdale, AZ
Solar Energy Specialist

Great infographic, very well written and easy to understand. Of course I am very happy to see 'Solar Energy' making it's moe to top 3 hidden gems. I have been following the research and stats on how important having more control of your energy production and use is evolving. 'Go Solar Now' contact us with any questions or data. 

Sunny Regards,

Kevin 

http://FEIsolar.com 

http://DSP-AZ.com

http://ULGenergy.com

 

Mar 30, 2014 11:46 AM #64
Anonymous
Fred Van Allen
12% is odd for corner lot, I can't ever remember someone asking for a corner lot, but I have known many that do not want corner lots.
Mar 30, 2014 12:55 PM #65
Rainmaker
782,487
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
The Susan & Mindy Team...Your Concierge Agents

This is great info and very helpful;  I had to chuckle about the corner lot, because I don't get the appeal - you seem way more exposed on a corner lot.  Of course, that's MY perspective and I live in the woods, hidden away from everyone.  LOL 

Mar 30, 2014 02:24 PM #66
Rainer
37,642
Nancy Holloway
REgeneration Property Group 714.317.7140 - Anaheim, CA

My experience with people who want corner lots is for the RV access.  Buyers have tons of toys that need to be stored (very expensive) or put behind the gates.  I find it's like a pool, either they really want a pool/corner lot or they don't.

Mar 30, 2014 09:46 PM #67
Rainer
114,079
Robert Hicks
United Country River City Realty - Savannah, TN

Very interesting info here. I look forward to detailing it soon...

Mar 31, 2014 05:37 AM #68
Rainmaker
1,414,339
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

I personally do not like Infographics, but I find people respond to them.  I have used the ones here at AR and those put out by CAR and always get lots of clicks.

Mar 31, 2014 08:40 AM #69
Rainer
125,748
John Fauth
Coldwell Banker King Thompson - Grove City, OH
Turning your dreams into an address!

Every buyer is different but this info seems to go along with what I have come across. So far I have had no one actually ask for a corner lot.

Mar 31, 2014 09:18 AM #70
Rainmaker
210,358
Patti Irwin
HomeSmart Premier-Fountain Hills AZ Real Estate - Fountain Hills, AZ
No Pressure, No Sales Pitch, Just Expert Advice!

That's funny about the corner lot, as I lived on one in Illinois and the home I live in now in Arizona is on a corner lot. Not intentional when buying but we just happened to like the house. What I like about corner lots is the fact you don't have any neighbors on that one side. 

Apr 01, 2014 05:40 PM #71
Rainmaker
610,224
Judith Parker
ProStead Realty - Charlotte, NC
CRS, GRI, CMRS, Charlotte, NC

Very interesting post and will have to keep and share when working with new sellers.  Thanks for sharing.

Apr 01, 2014 07:07 PM #72
Rainmaker
180,455
Kathy Smiley
Rodeo Realty ~ Fine Estates Westlake Village - Westlake Village, CA
Westlake Village, CA - "Making YOU Smile!"

Yes, yes, yes. Good neighborhood, views and schools! And can I just say, the "roof issue" has been the NUMBER #1 DEAL KILLER in my experience! Great information - thank you!

Apr 01, 2014 11:05 PM #73
Rainmaker
252,244
Marjorie Taylor
Landon Homes - Saint Augustine, FL
New Homes in St. Augustine Florida

This is really great information even for us Builders Reps.  Catering to Buyers Hot Buttons is key to making the sale.  Of course the product has to be great too!  Thanks for sharing this!

Apr 04, 2014 11:00 AM #74
Rainer
482,156
Chandler Real Estate Liz Harris, MBA
Liz Harris Realty - Chandler, AZ
#ChandlerRealEstateAgent

Hidden gems most certainly add to a properties value!

Apr 06, 2014 09:07 PM #75
Rainer
100,297
Heidi Hovatter - Sonora & Twain Harte
Century 21 Wildwood - Selling Homes and Cabins in Tuolumne County - Sonora, CA
Heidi The Home Hunter

I enjoyed taking the survey and am glad to finally see the results.

May 20, 2014 10:11 PM #76
Rainmaker
282,619
Jane Chaulklin-Schott
TEAMCONNECT REALTY - (407) 394-9766 - Orlando, FL
TeamConnect Luxury Homes - Orlando, Florida, 32836

Great post with excellent information and easily understood. Thank you for sharing.

Sep 26, 2014 12:52 PM #77
Rainer
271,974
Bernadine Hunter, SFR, ACRE
Keller Williams Greater Columbus Realty - Pataskala, OH
"Finding Solution to Your Real Estate Needs"

All this information is really great to have. Thank you for such an indept analysis of these areas of concern for consumers.

Dec 27, 2014 03:34 AM #78
Rainer
164,535
Nikitas Kouimanis, CMPS®
United Northern Mortgage Bankers - Levittown, NY
Mr Mortgage

Great blog post!

Jul 11, 2015 05:48 PM #79
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