Valuation

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19 Greenway

Thank you very much for considering us to market your home, my purpose here is to show you:

 

  • How I get to a valuation for your home
  • My marketing plan to achieve that price
  • My fee structure

 

Valuation

Your home

Type of home

Tenure

Sale history

Bedrooms

Internal area

Plot/land area

EPC rating

Council tax band

Semi-detached property

Freehold

31/03/2016 - £265,000

3-4

around 1300 Sq.Ft.

0.09 Acres (376.00 Sq.M.)

D

D (£1,808 p/yr)

Using the office of National statistics, I can usually project a first "base" valuation of what your property should be worth based on the price you paid for it, the date your purchased it and the improvements you have made.

Based on pure variations between 2016 and now, your property would be worth around 25% more if it was in the same condition, meaning £330,000. But you have totally renovated and improved the property so this approach is not good enough.

Comparative method

I usually look at comparable properties sold recently in the area rather than the ones currently on the market as they tend to be overpriced. However there is nothing to compare your house with in Clacton/Holland-on-sea so I must use other angles...

34 Greenway

Similar size with 4 bedrooms, sold and completed in May 2021 for £380,000. As the market has increased by up to 15% since, it would be valued now at £425,000 - £440,000

26 Pole Barn Lane

Completed in June 2021 for £435,000, this 3 bedroom semi-detached is smaller than yours but on a much larger plot. Offer was probably accepted in around March 2021 and I would say that the market has gone up another 10% since. Meaning a price of around £475,000 now

St. Marys Road

Similar size to yours, this 4 bed semi sold from £400,000   around September/October and this reflects the truer price for that property.

Currently on the market

What are the properties that you would be competing against?

 

 

 

Greenway, Frinton-On-Sea

Very recently put on the market, this 3 bed semi at £450,000 is smaller than yours and appears to me as overpriced. The market lacks properties and buyers may still snap it. If they don't after this weekend, it is a clear sign it is overpriced. I think it is £25,000 overpriced at least.

Valuation range

 

Minimum price: £425,000

Valuation: £450,000

Max valuation: £475,000

 

Would you go on the market now, I would say that £450,000 would be the price to use as a marketing price. From that level you may get a bit more or a bit less. Arguably we could market it as a 4 bedroom as per its current use. With only one bathroom it might appear over priced. Building on top of the garage may well bring the property closer to a value of £500,000 but I feel that the semi-detached aspect may well limit the price to that level.

 

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