Intero Real Estate Services
If this is the community you are referring to then I could see the value in possessing a private key to the access gates leading directly onto the course. This aspect of ownership would be considered valuable to the avid golfer who is a member of the club. Does the gate access automatically transfer with the home? Are these gates located in areas other than the cul-d-sac ends of the community? What I'm getting at is ..... can any resident gain access to the course from any of these gates and who controls the rights to them?
I would say that the access would certainly allow you the ability to sell your home quicker as it could be viewed more desirable than the rest. Placing a value on it would be subjective. Depends upon whether the buyer values this perk in the same manner that you do and whether an appraiser will appropriately consider it in his evaluation of the property value.
Interesting information. I'm a former member and would have seen its value. But I can't speak for those who don't understand. Good luck to you!
Diane Wheatley, Broker
Both agents have given you good information. Reality is your home is worth what someone is willing to pay. I know that sounds very simple, but it is what is going on in this market (and all markets). To the right someone those could have value and even if it doesn't appraise they would be willing to bring in the money to purchase your home for higher than it appraises, if it is something of value to them. (Iâ€™m sure it was of value to you when you purchased the home). If it isnâ€™t then it wonâ€™t have any value. Looking at what similar homes have sold for (even if they arenâ€™t right in Red Hill) would give you an idea of what buyers are willing to pay right now. Marketing to the buyers is what is important to make sure that you have received the highest amount that will be paid for your home.
Let me know if you would like any more information
Yours will be a bit difficult to price. I'd be happy to meet with you to discuss this further, or see my first answer and call an appraiser, it may be worth the price for you to have them do a full appraisal for you. They have different ways of computing value.
Of course, try to see if there are homes that are closer to the size of your home ON & OFF the course. If you can let me know the size of your home I can do some investigation.
Although most sellers don't take this route, but for your situation it may really help, is to get an appraisal done. It will probably cost about $350-400, you could also ask for a "comp appraisal" for possibly a discounted price. If you can tell the appraiser over the phone what you have for upgrades OR email them photos of your home & your lot, if the appraiser doesn't have to come out to take measurements & their own photos, they may do it for less.
It does add value to someone who is a member of Red Hill because it is a private members only golf course. However, to most people who are not a member, it would not matter. The way it works in real estate for value is the square footage of the home, size of the back yard and what the upgrades are in your home. Many times you do not get all the money back that you have put in for upgrades into a home either. I always tell my clients that your taste in what you consider upgrades may not be considered an upgrade to someone else. These items just make your home more desirable than one that has not been upgraded. You never get all your money out of upgrades or for a pool for that matter either. The value that it does add is the convenience for a Red Hill member. Memberships are down right now (I should know as I am a member). So, I do not think there would be any monatary amount that would substantiate raising the price of your home just for that reason. An appraiser will come in from the lender and look at what homes are selling for all around you in a one mile radius and then branch out to other homes from there if not many homes have sold. The home will have to appraise for what you are selling it for and that is how an appraiser determines the value.
If I can help you in any way, please do not hesitate to contact me.
Joan Patterson, B.A., A.S.P., G.R.I., Realtor, License # 01431647
Keller Williams Realty
8250 White Oak Avenue, Ste 102
Rancho Cucamonga, CA 91730
All Nations Realty & Investments
VICTORIA GARDENS MALL