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Metro Atlanta GA - How Do You Determine Home Values?
It can be very confusing these days with lots of real estate news on television, in the local papers and posted online. So how do you determine what your home is really worth or a home you are considering purchasing? The traditional metrics that track the real estate market include things like “average sale price” or the “median price” which is the price in the middle of the group. These are good reflections of what is being sold but often poor reflections of the values for homes. In 2011, SmartNumbers reports that almost 50% of properties sold are under $100,000. The normal distribution of homes in this price range is around 10-15%. This abnormal distribution skews the average prices and median prices much lower. Another method of estimating values is the Case-Shiller Index which uses repeat sales. That is a more accurate measure of home values. The latest Case-Shiller Index reflects that home values are down 27.93% from their peak of July 2007.  Another index that we like is the FNC Residential Property Index. This index uses a combination of market data and appraisal data used in loan originations. The index also ... more

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