The price per square foot is the most familiar method of comparison that many people are aware of. It is such a common method of measuring a properties value that it is listed right below the sales price on the sales comparison adjustment grid on the appraisal report according to Tom Horn . What you must realize is that everything about the property is summed up in the price per square foot. Itâ€™s size, condition, features and overall appeal is reduced to this one number. Because of this it is very important that if you want to find out what homes in your neighborhood are selling or appraising for per square foot in order to estimate your own homeâ€™s value you must only use houses that are very similar to your own.
If you have a home built on a slab, and you are using the price per square foot of a home with a basement, then that is going to reduce the accuracy of your estimate because the price per square of the other home includes the value of the basement. When you multiply what it sold for per square foot by your homeâ€™s square footage it will be over estimated. This is also true when you look at a home that is a lot bigger than your own. If everything else is similar, such as features and quality, but the comparable is bigger than yours, that can also be misleading because a larger home will usually sell for less on a square foot basis when everything else is the same. As the size goes up the price per square foot goes down. It is the law of diminishing returns at work, which states that the more square footage you add the less value you get per square foot for the larger size. If you multiply the price per square foot of the larger home by your own square footage then your home will be under estimated.... more
When we relocated to Knoxville 6 years ago, we had the opportunity to visit over several weekends to get "a feel" for the area that best fit us. Knoxville is generally divided amongst North, South, East and West.
I would suggest visiting www.knoxschools.org for school info and report cards for schools. I would also check with local police departments and county websites for pertinent information. Knoxville is a great town and there are alot of activities to enjoy. This is the first town we have lived where we actually enjoy visiting downtown. There are many family friendly festivals and Christmastime is wonderful downtown with an ice skating rink that is put up every year.
Good luck and I am available for any other questions you may have.
Southeast Referral Associates
According to KGIS, the school zones for that street are Christenberry Elementary, Whittle Springs Middle, and Fulton High. It's illegal for a Realtor to comment on the quality of a neighborhood, so I suggest driving by during the daytime and at night. I'd also call the local police station (call 311 and they will connect you free) to get the crime reports for that neighborhood so that you can make a decison for your family. Then, I'd probably call Fulton High and find out their graduation rate, and perhaps go visit it to make sure it will match your expectations.... more