So a gentleman from Amaretto, a Kendall community composed of single family homes, phoned me a few days ago asking for the value of his house. And I gave it to him…and it caught him off guard. What a surprise 😛
I told him that homes in Amaretto (as of 10/30/13) are more less going for in the low to mid $200,000(s) depending on the interior condition of the property and several other factors.
Then he asked, “how come other homes like in Westchester or Calusa are going for well over $300,000?”. I replied, “it’s mainly due to three factors:
- the garage
- lot size
- HOA or association
Believe it or not, in the area of Kendall as of 10/30/13, what makes or breaks the $250,000 (approximate) price mark for single family homes are these three factors.
In other words, if you home is located in a community that has an association. In a community where lot sizes are relatively small at less than 6,000 square feet. And such homes do not have a garage…then expect prices to be under $250,000.
Now…say you start adding a garage…that one item alone can put you in the mid $200,00s. Add a larger lot…automatically you’re in the high $200,000s. No association? Starting ballpark price? $300,000. Off-course…adding these factors do not have to be in that order…but you get the point.
Who’s the lesser of the three evils…I would say the lot size. Most buyers I work with prefer to give up a larger lot size in order to find a home with at least a 1-car garage and preferably with no home owner’s association. What’s your preference?
Disclaimer. Disclaimer. Disclaimer. The above is a rule of thumb or a good approximation of how prices are looking in today’s Kendall market. Am not an attorney so I won’t complicate this. Want to know the precise value of your home?
Want to have a ballpark idea of your home’s value…re-read this post or you can also Contact me.