What Is A Home Valuation?

home valuation

Maybe it’s just time to move on, you’re itching for a change of scene. You’re looking at homes across the country, and wondering what kind of home you’ll be able to afford. It just might be time to consider scheduling a home valuation. Home Valuations are an incredibly important, and yet underutilized tool offered for free by many businesses. In short, home valuations are an estimate of the properties’ value. This value is used by many industries, and is not exclusive to real estate, but it can be a great way to get a ballpark idea of what you can expect to receive for your home, and where you should start setting your price.

When Are Home Valuations Used?

Home valuations are frequently used when looking to sell homes, but are also often used when financing homes, businesses, or anything else. Calculating insurance, Taxes, and much more!

What Factors Make Up A Home’s Value?

A Home’s value takes a lot more into consideration than simply the historical prices of a home. In general, the value is based upon 4 determining factors. These factors include:

  • Demand
  • Scarcity
  • Utility
  • And the ease of Transference

Each of these factors play a major role in determining the value of a home.

Demand

The most obvious determiner of value is the demand for a home. The higher the desire for homes of your size, and style, or in your region, the higher the value of your home. But on the other end of the spectrum, the lower the desire for homes of your size and style in your region, the lower the value of your home. For example, Ontario Canada as a whole is a very desirable place to live, The demand for homes there is very high and it drives home values through the roof. But the demand for homes is not consistent all across Ontario. The Toronto area while clearly having the greatest supply, has a demand that outstrips the rest of Ontario by a long shot, and home pricing reflects it with an average home price of about $805,000 according to Zoocasa.

Thunder Bay on the other hand is located miles away from Toronto and the job opportunities it brings, subsequently decreasing demand significantly for homes in the area. As a result, the average home price in Thunder Bay plummets down to an average of about $218,000. Everything from economic development, to neighborhood, home style, and size all play a role in the amount of demand there is for a home. Any good home valuation will look at several of these factors in determining current demand for your home.

Scarcity

Scarcity, or availability plays another huge role in determining a homes price. Scarcity in this instance does not specifically refer to the lack of supply, but is a double edged sword when used in home evaluations. The harder it is to find homes, the more they are worth, but the easier it is to find, the less each home is worth.

Utility

This factor is a much more fun and interesting factor than the relatively cut and dry scarcity factor. Utility is the property’s ability to meet the needs and wants of it’s future owners. This factor is not completely summed up in the present, but also extends far into the future. For example, A young couple booking for a home would find many 1 and 2 bedroom houses available at better prices than the 3 bedroom variety even when the square footage is relatively comparable. This is mainly due to the 3 bedroom’s future utility. The couple may really only need one bedroom at the time they are looking to purchase a house, but as their family expands, 2 and 3 bedroom houses are able to meet those expanding needs, unlike the 1 bedroom homes. The price of each home is adjusted by its ability to meet both current and future needs. The larger a home’s utility, the higher it’s value.

Ease Of Transference

Despite the scary name, this factor is another simple one. The value of a home increases or decreases depending on the ease with which it can have it’s deed transferred, or, the ease with which it can be sold. The more complicated, and the harder it is to get sole ownership rights, the less the home is worth.

Closing Remarks

Finally, it’s important to remember that while the terms are often used interchangeably, the value and the price of the home are not equal. In a perfect world, they are the same, but in reality, sometimes the purchase price can be more than the value of the home, and though possible, it is less than the value of a home much less often. An example of this is if you were to purchase a home for $200,000 in a good neighborhood, great yard, and decent space inside. You’d be pretty excited about it! But all of a sudden you pull down some of the sheetrock in an attempt to do a slight remodel, only to discover the house is infested with termites! All of a sudden what seemed like a decent purchase price has proven to far exceed the value of the home. 

Where Can I Get Banners Printed In Stockton?

large format banners printer

While running into banners is a daily occurrence for many of us, knowing where to go to when you need a custom banner made can be much more of a challenge in Stockton. In order to print a custom banner a special large format printer is needed, and not many places keep those in stock. Below is a list of several of the places around Stockton where you can have custom vinyl banners printed.

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Sign Collecting: A Beginners Guide

Sign Collection

Signs of all kinds are sought after by collectors of all kinds. From history buffs, to car guys. Museums, or simply a residential kitchen. There are dozens of people and places in search of signage. The historic value and eclectic charm it provides is quite simply irresistible. Getting into the hobby can prove to be quite challenging and cost prohibitive however. So today we’ll go over some of the basics to help you build the collection of your dreams, without breaking the bank. But first, we’ll cover why sign collecting is such a popular hobby.

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A Beginners Guide To Visiting The Dentist

Visiting The Dentist

So, You’ve moved out. Going to college, or just trying to make it on your own. It’s an exciting time! But also a bit painful. The first week or two everything goes great, but before you know it, the dishes are piling up. Laundry has begun behaving like pyroclastic flows. And we’re starving! We never really realize just how much our parents do for us until they aren’t there doing it anymore. Before you know it, it’s honestly probably past time for you to set up an appointment at the dentist. When you smile you feel a bit more like Gollum than yourself, but you just don’t know how to schedule the appointment! Never fear! That’s exactly what we are here to help with. Before long you’re going to be a strong, independent expert at visiting the dentist!

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What Do All These Traffic Signs Mean?

Traffic Signs

Many of them we see everyday! Others however are a bit less common. So what do all these traffic signs mean?

Traffic signs are actually quite standardized here in the United States. Any and all signs produced here must be made by approved sign contractors, and build their signs in accordance with the strict regulations put forth in MUTCD or, the Manual for Uniform Traffic Control Devices! It is done this way to ensure that all road signs are easily understood. The less common ones even standardized are frequently misunderstood! Below are some of the least often encountered traffic signs that we have found, and exactly what they mean!

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The Basics Of Writing A Traffic Control Plan

Traffic Control Plan

Struggling with a traffic control plan is just part of the job of being a general contractor. OSHA requires that every time the normal function of a roadway is suspended, temporary traffic control planning must be in place. But what do you really need to keep your work zone safe for your workers and the civilians? The seemingly numberless forms of signs, barricades, crash protection and so on make it difficult for anyone to muddle through the mess. And that’s not to mention the legal language! Unfortunately, this question is never going to have a cut and dry answer, but we can do our best to set you up with a simple little guide to get you started!

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Local Stockton Sign Manufacturer

Sign Shop

Manufacturing signs for traffic control and regulations are heavily restricted by the California Department of Transportation. There are seemingly countless regulations regarding their production. They must be produced by a licenced manufacturer, pass their reflective tests, be certain sizes, and have very particular engravings visible to prove that they are obeying the regulations. Finding a sign manufacturer near you can be quite difficult simply because many places don’t like to deal with the hassle of keeping each and every sign up to code. Lucky for us there’s a Local Stockton Sign Manufacturer just up the road from many of us.

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Where To Find Portable Traffic Signs

Temporary Traffic Signs

Anyone who’s done any paving contract work knows the struggle of trying to find quality custom portable traffic signs. There are plenty of shops around that will sell you the routed out metal backed permanent signs. But finding the collapsible easily stored signs is another story entirely. They require completely different tooling to make than a permanent sign. Most places simply aren’t willing to put up the cash to produce them. Then those that do make cheap flimsy garbage that seems to snap in two if you look at it the wrong way. When you find a place that produces real quality portable traffic signs, Share the news. We need to support those who know how to do it right.

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Assisted Living Homes Against The Spread Of COVID-19

Assisted Living Homes

With the current COVID-19 pandemic assisted living homes have been uniting in their fight to protect their residents from all risk. Many of their policies are very strict, and difficult to understand at times. We’ll take a closer look at the policies they have implemented and why such a policy is a necessity in order to keep their residents safe.

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