appraise my home | How to estimate his house or apartment?

How to estimate his house or apartment?






Everyone does not have a Stéphane Plaza handy when it comes to getting their home appraised! If, of course, we can only advise you to call on the services of a real estate appraiser, nothing prevents you, before calling on an expert, to make you an idea of ​​the value of the property. your good. Criteria for calculating the price of a property tools to estimate his home yourself through an overview of real estate valuation professionals, we will try to answer the question that obsesses you so much : "How to estimate my house? ".

Why calculate the price of a good?
Aside from classic real estate sales, there are other situations in which you will need to know the value of your real estate. There are indeed three main types of situation where the valuation of real estate is required: tax procedures (wealth tax, inheritance, donation ..), divorce and the repurchase of credit.

Estimate its good for taxes: ISF, inheritance, donation
What is the common point between the calculation of the rights of donation, inheritance and the subjection to the Solidarity Tax on Fortune (ISF)? Answer: the market value of real estate.

Defined by the website service-public.fr as "the estimated amount of the price that could be obtained for a good, in case of sale under normal market conditions", the estimation of the market value is a delicate exercise taxpayer subject to one of these tax procedures.

But stations to those who would be tempted, to pay less taxes, to "undervalue" the value of their property, because if there is an actor who does not joke with the value of the stone is good the French tax authorities. The tax authority may indeed correct the price if it considers that there was an assessment lower than the real value of the property and expose the taxpayer to a tax adjustment. To prove that there was undervaluation, for example, the tax authorities may compare with the prices at which similar goods sold.

To achieve this, Bercy has a very reliable tool, open to the general public since 2013, which we will see a little further: the PATRIM database.

Estimate your property in the event of divorce
Whoever says divorce by mutual consent of a married couple under the regime of the universal community, necessarily says liquidation of the matrimonial regime and therefore division of property. When these properties include one or more real estate (land, apartment, house) acquired by the couple during the marriage, each party will have to agree on their values ​​for sharing before going to court. Outside, everyone knows that it is an exercise often perilous in case of divorce.

Whether they want to sell the property or sell their share to the other party, the intervention of a real estate expert who will make an accurate estimate of the market value of the property (s) will greatly facilitate the family judge's task and / or or the notary in charge of the liquidation.

Estimate your property in the event of a credit surrender
In the case of a repurchase of credit (for consolidation or negotiation), the banks are particularly anxious to have the most reliable estimate possible of the value of the good. This is largely due to the fact that banks generally do not lend more than 80% of the real market value of the property, a ratio commonly referred to as a "mortgage margin". The bank can therefore estimate the value of the property internally or call in an independent property valuation expert.

What are the criteria for assessing the value of a good?
As Stéphane Plaza says in his video "How to estimate your property? If, like Guy and Ghislaine, you are destitute to determine the "fair price" of your house, know that it is quite possible to fix its price objectively. Indeed, to hope to find a buyer as soon as possible, you will have to set a price neither too much compared to the existing supply of goods nor too undervalued compared to the demand for the same type of property. Above all, you will need to be as subjective as possible about the 7 major criteria that determine the value of your home.
7 objective criteria that play on the value of a property
The geographical location of the address: "the location, the location and still the location! »Transport, schools, nuisance, quality of life, security: a" well located "apartment will always be easier to sell (and sell). With equal characteristics of a good, price differences can be significant from one neighborhood to another.
The dynamics of the neighborhood: a neighborhood whose shops close one after the other or which would be exposed to significant road traffic certainly impact the price of a good. Conversely, if urban development plans include the construction of green spaces nearby, the value of the property may be revised upwards. The Local Urbanism Plan (PLU) available in the town hall will be a valuable source on planned orientations in urban planning;
The economic situation of the town: it is an established fact, some municipalities or boroughs of large cities are more sought after than others! A municipality with a high unemployment rate does not help frankly the sale of real estate. In contrast, a city whose policy is favorable to the establishment of companies will see its real estate demand go up.
The characteristics of the good: it is the criterion probably the least objective and the one that triggers a crush on the buyer. If it is difficult to be exhaustive on the characteristics of the ideal good, we can quote: the works to envisage, its situation (floor, ground floor, side street ...), its surface, its arrangement, its equipments ( parking, garage, terrace, garden, lift) and its orientation (sunshine, vis-à-vis, view);
The state of the building: an old building whose facade is dull and on which cracks are apparent will reassure by a potential buyer. Buyers have a tendency to flee buildings for which important work is to be expected (facelift, repair of common areas, work on elevator, etc.);
Co-ownership and charges: if your property is located in a condominium whose charges are high, there is a good chance that you should make a gesture to the purchaser. So think of their amount when setting the price of your property or discount a higher discount.
Energy performance: since its arrival in 2011, the Energy Performance Diagnosis (EPD) has an increasing impact on price. A joint study by the Notaries of France and the Caisse des Dépôts de Consignations demonstrated in 2014 the significant impact of a good energy label on the value of a home. Overall, the study shows that buyers tend, with a good equivalent, to favor properties with scores closest to the A, while in certain sectors, price variations of up to 27% have been observed. .
Good to know
To help you objectively analyze the location of a house or apartment, CityScan offers you access to more than 70 "objective" evaluation criteria.
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The real estate market
Unknowingly, acquirers use one of four major property valuation methods namely the so-called "comparison" method. As a real estate expert would do in depth, a buyer who wants to buy a property at its "fair value", will go through dozens of real estate offers to take the pulse of the real estate market. He will therefore normally know how the price of your property is positioned in relation to the existing offer.

On your side, you should realize very quickly the demand for the type of property you are selling. If it is a rare property (roof terrace for example) in a sought after area and close to many amenities, its price will not necessarily be the same as a widely spread on the market.

A good knowledge of the real estate landscape and its tendencies are two important pre-requisites to be able to both sell his property in a reasonable time and avoid having to sell it to the first offer in case of excessive financial pressure. Fortunately for you, many sites exist to help you get a clear idea of ​​the "market price" for your home. Real estate price indices, online estimation tools, the solutions are not lacking even if they are not all equal. Here is a list of the best tools to help estimate real estate online.


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How to estimate your own house or apartment?
Although it is strongly recommended to make at least 3 estimates by 3 different real estate agents, it is entirely possible for you to estimate the price of your house or apartment. Now that you know the objective criteria that determine its value, you just have to assess the state of the market. For this, three major families of tools exist: databases of public real estate transactions, price indices of real estate sites and online estimation tools.

The databases of notaries of France
To evaluate a property at its fair value, notaries have been using since 1990 two very well-informed databases: the base BIEN (base of notarial economic information) for the Paris region and the base PERVAL for the other regions of France. The first is accessible via the website paris.notaires.fr and the second via the site barometre.immobilier.notaires.fr. Since each real estate transaction must be the subject of a notarial act, and each act must be transmitted, these bases are to date the most reliable and the most complete.

The real estate barometer of notaries

The site barometre.immobilier.notaires.fr gives you instant access to all real estate indicators on the town and type of property (house or apartment) of your choice: price trend, median price, credit rate, distribution of sales.

Real estate barometer of notaries

Real estate prices of notaries

Another site "made in notaries", less comprehensive in terms of statistics, but more extensive in terms of search filters (area, type of property, number of rooms) provides access to real estate prices throughout France: https: //www.immobilier.notaires.fr/. The site gives you floor, median and ceiling prices per m2 for the type of property you are looking for. It also allows you to view on the map the disparities in price per m2 on the municipalities and surrounding areas. Other interest of the site immobilier.notaires.fr and not least: it lists the last properties "more or less similar" sold in the municipality with their main characteristics (year of construction, label DPE, situation, terrace / balcony ...) .

Price indexes of notaries

PATRIM: the tool for estimating the value of a property in Bercy

Well-known tool of the controllers of the Directorate General of Public Finance (DGFiP), PATRIM was well made available in 2014 with, initially, a reserved access to estimates made in the context of the ISF declaration, inheritance, acts of donation, tax audit and expropriation procedure. Since May 2017, PATRIM is open to all French taxpayers wishing to evaluate their property assets.

PATRIM records the latest real estate transactions over a period of up to 3 years and over an area ranging from 50m to 5 kilometers around a given address. To be more precise, PATRIM references all residential real estate (excluding professional building), with the exception of Mayotte and Alsace-Moselle.
Like the previous simulation tool, it gives numerous indications on the listed properties: floor number, square footage, floor space, price / square meter, date of construction of the house, cadastral reference and lot number. So a very interesting source to know if your property is in market prices, provided that the area searched for, the data are sufficient to allow you to make your estimate.

Price indexes of real estate sites
Besides official sources, there are many sites offering price indices per square meter throughout France. From sites specialized in real estate ads to "pure players" price indices, each solution has advantages, but also some disadvantages, especially in terms of reliability and completeness of the results.

LaCoteImmo: the essential site SeLoger.com has built its own estimation tool based on the millions of real estate sales offers on its site. Prices to be taken with tweezers because based on "sellers" prices. LaCoteImmo proposes on the other hand a whole series of indicators INSEE on the typologies of goods on the commune concerned. A relevant source to know for example if the good you put on sale is rare.
BetterAgents: considered by the UFC Que Choisir as one of the most reliable real estate valuation sites, BestAgents exploits and crosses several sources of data to feed its index (base of the notaries of Île-de-France, real estate agencies partners, transactions declared by individuals). In addition to displaying price trends since 1999, MeilleursAgents allows geolocation of new programs in the sector sought and access to a list of goods (without price) sold by partner agencies in the municipality.
Efficity: bought by Foncia in 2014, the Efficity real estate network offers a map of real estate prices per m2 for the whole of France. This index, although it seems based mainly on the goods sold through the network, presents relevant results and little different from the notaries' bases. Little more Efficity: price differences per square meter from one neighborhood to another are more marked on the interactive map than on previous sites.
Good to know
All the sites above offer the possibility of obtaining a personalized and anonymous simulation of the price of your property. For this, you only need to enter the characteristics of the property requested by the software.
Have your property appraised by a professional
Since the location is essentially the value of a property and nothing is worth the professional eye of a professional, it is more than recommended to use the expertise of a pro to refine the estimate. Once again, several solutions are available to you: to estimate your home by a real estate agent, by a notary or by a real estate expert.

Realtors
Remember Stéphane Plaza's advice (I still know him) in his video: "Get at least 3 real estate agents involved. They must imperatively move to see the square meters and the work to be planned. The parameters to be taken into account on site are indeed very numerous to appreciate the real value of the property. However, you should be wary of much higher estimates than others. The agent and facilitator explains why: "some agencies pay their agents for the number of mandates returned".

Notaries
Few sellers know this, but notaries are also real estate appraisers. Like real estate agents, they can appraise all types of property, from residential housing to business premises to exceptional properties. To estimate the selling price of a property as accurately as possible and to give you a "certificate of expertise" or "opinion of market value", notaries rely mainly on two devices:Their database: we have already mentioned it above. These are the most reliable and comprehensive. But while notaries have had exclusive access to these databases for a long time, this is no longer the case since July 1, 2017.
The NotExpert label: this label is awarded to notaries who justify a practice of real estate expertise of more than 5 years and who have followed a specific training. In the same way as real estate experts, NotExpert-certified Notaries respect the charter of real estate appraisal expertise and its rules. Last pledge of seriousness: the real estate experts of the notariat are recognized TEGoVA, an international association gathering about fifty associations of real estate expertise.
Real estate experts
Unlike an agent or other professional real estate, a real estate expert must meet certain criteria to be able to make an expertise in market value.

He must have specific training or experience of at least 4 years in real estate valuation
It must be covered by professional indemnity insurance
It must respect the rules of ethics defined by the charter of real estate appraisal
He must respect the main evaluation principles and use one of the four evaluation methods: the direct comparison method, the income method, the replacement cost method or the so-called "professional" method.
Naturally, the cost of this expertise at a price: the real estate experts are free to apply their rates but operate largely on the basis of an hourly shift. The cost of the mission will therefore depend on the time spent on the file and not on the value of the property.