In a strong seller's market, homes sell fast. If Mark and Lisa's home is in a seller's market location, they will have a better chance of getting their asking price.
Mark and Lisa are discouraged but will investigate further. This gives them a suggested selling price of $350,350. To get a rough estimate of an appropriate asking price, they sum what they paid for their home with the money they have invested in solid home improvements, and multiply the sum by the rate of depreciation: (($355,000 + $100,000) * 0.77). It seems that homes in their ZIP Code (Crestline, CA) are only worth 77 percent of what they were when the home was purchased. To see how much they have depreciated, they divide the current average selling price by the average selling price when they bought the home: 243900/316000 = 0.77. Clicking at the end of the line graph they see current estimated median home values are $243,900. Clicking at the beginning of the line graph they see that the estimated median home values for the month and year they bought their home was $316,000. Mark and Lisa download ZIP Code level Zillow data for 3-bedroom homes like theirs, and create a line graph showing home price trends.
They are hoping they won't have to sell at a loss. Lisa bought it for $355,000 in 2005 when home prices in Crestline, California were nearing their peak. Unfortunately, Mark and Lisa have no idea how much they might be able to get for their house. It was about the 15 th time Mark commented on the benefits of a two-car garage and larger closets that they started thinking seriously about finding a new home. After Mark and Lisa got married, however, the family grew to include a third dog and visiting adult children with their families. It was perfect when it was just Lisa and two naughty dogs. Mark and Lisa are thinking about selling their home. You will then create maps for candidate neighborhoods where you might want to buy a new home. When you complete the tutorial, you will download Zillow data for your own neighborhood to determine an appropriate selling price for your home. It shows how to quickly add Excel data to Insights so you can run analyses and create maps, graphs, and tables. While the data and context for the analyses outlined below are real, the workflow described here has been selected to demonstrate working with ArcGIS Insights.
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