How much will my house be worth in 2015

• July 22 2013 - Town and Country
• 0
0Yes

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• 7063 contributions
5% this year
5% for 2014
??% for 2015......

Actually 9% for 2013, and 6% for 2014, at least nationally......

• December 28 2014
• 0Yes

Great question. This depends on your specific location and market. Do you know if your market is appreciating or depreciating?  Ask a local realtor how much homes in your area appreciate in a normal market. Ask them to back their figures up with independently verified market data....not data provided by an automated system.

Do the math. How much did you purchase the house for? Was the house performing above or below your towns market in the year of purchase. Find this out by calculating the \$/s.f in the year of purchase. Now ask a realtor to calculate the "baseline" or median price per square foot that homes in your town were selling for in the year you purchased.  Did your home sell above or below the market in the year you purchased? By what percent? For example 16% higher than the typical homes. (This could be because of a superior location, finish work, neighborhood.)

Now ask your realtor to calculate the rolling 12 month median price per square foot today. Great. Now Multiple your s.f. x the towns current median \$/s.f. Take that number and multiple it by 1.16 and that will give you an idea of today's value (This does not take into account improvements)

Now we need to figure out if the market is increase or decreasing in value.
Typically your market is stable and achieving appreciation if you have between 5 - 7 months of inventory in your price range. Higher than this represents that deman is low and appreciation may be waining.

Still not sure. Go back to a normal market .....the year 2001 perhaps and determine what the median \$/s.f. was at that time. Remember when I asked you to find out what the typical appreciation in your market was? Let's say it is 2.5% per year. Now take the median price per square foot in the year 2001. Let's say it was \$125.  Take this number and apply at 2.5% appreciation per year compounded. If the market was normal and appreciated at 2.5% per year then the \$125 would be \$168 today.
Ok...now ask your realtor for the median \$/s.f. today. Let's say it is \$157...it is underperforming. This would indicate that properties in your market are being discounted by 9.16% at this time and you may not want to sell at this time.

I am sorry if this is confusing and long-winded. Each market is different and you really need the insight of a local reputable professional. Much of real estate is math driven along with common sense. I hope that this was helpful.
• July 25 2013
• 0Yes

James -

Do you guarantee that  if the home does not appreciate 5% in 2013, 5% in 2014 you will make up the difference  - that is you pay out of your pocket to bring the home to 5% for 2013 and 5% for 2014. In fact if it appreciates over 5% the buyer  will pay you the excess appreciation.

Will you work with a buyer under these terms? If not you just made a statement that you refuse to back! I would then not personally trust you as a good professional.

• July 25 2013
• 0Yes

• 72 contributions
If only I had a crystal ball!  Contact a local Realtor.  They should be able to tell you what your home is worth now and show you your market history.  The best way to predict the future to lean on the past.
• July 25 2013
• 0Yes

• 347 contributions
Very tough question to answer.  Try contacting a local agent who can help you in determining what your house is worth now and ways to maintain and improve your home in the coming years so that you can receive maximum value should you decide to sell.
• July 23 2013
• 0Yes

Well that depends, how much is your home worth now?
• July 22 2013
• 0Yes

All real estate is local.  That's going to be a very difficult - if not impossible - question to answer due to the number of variables involved.
• July 22 2013
• 0Yes

Most predictions in are as follows:

5% this year
5% for 2014
??% for 2015......really difficult to predict that far out with any certainty...

Keep your house well maintained and well groomed. It will add to the appreciation predicted.

Good Luck!

James Callas REALTOR
• July 22 2013
• 1Yes