Welcome to the "Did You Know" blog; a blog that will explain all the functions you can use to navigate and use RealEstateSINY.com’s newest website, SI-DEX. This week, we are going to explain to you what the site’s comparative value and property history functions are and how to use them.
When you are considering to sell your house, you will generally be curious on how much your home can possibly go for. To the ballpark amount of your home, you can determine the range by looking at SI-DEX’s Comparative Value section. The importance of this feature is for you, the homeowner, to stay on top of potential market changes in their area. You can easily compare properties surrounding your home directly from your property's page instead of having to search for each individually. This way you can make sure your own home's value is what it is supposed to be worth.
1. You can compare market values with properties in your neighborhood by going to your property's page
2. Scroll down the page and look for the "Neighboring Properties" section on the right side of the page.
3. You will be able to see properties in your area here with their SI-DEX values. You can click on any of the properties to visit their page.
4. This helps the user stay up to date on any changes in their area.
This feature helps homeowners, like yourself, keep tabs on your property's changes in values and why. It explains the reasons for changes in your property's market value based on market conditions and public data available as we receive it. This can include events such as a major storm that may affect the market conditions of a given area.
1. You can check the history of value changes on your property by visiting your property's page.
2. Scroll down the page towards the bottom and you will find Property History on the left side of the page.
3. In this section, you will see any system changes to your property's value (which properties get updated periodically when new Property Sales Data and Public Records come in), manual changes to your property's value (if you request a value update), or if the property goes up for sale or is sold.
4. The Event and Source will tell you what type of update the value change was.
5. The Price will be the new SI-DEX estimate of your property or Sale price.
6. $/Sqft represents how much your property is worth per square foot.
7. You can also click on the "Notes" to open a drop-down explaining in further detail why the value changed.
Return back each week to learn about a different function on SI-DEX. Next week, we will be discussing comparing values with neighboring properties!