Current Value Assessment
PREPARED EXCLUSIVELY FOR:
David & Joanna --
The following is a Current Value Assessment of your home based on current market conditions, comparable homes in Lake Hills, what I believe your home could sell for if my marketing strategy were implemented, and a little info about me and my team.
The next page is your Tax Record followed by the comparables I used in this analysis to come up with my assessment followed by what the Top 4 real estate websites have your home estimated at. 949-294-2506
TAX RECORD
Owner
THE COMPARATIVE MARKET ANALYSIS
No two homes are identical, which is why choosing a sales price or offer price for a home can be challenging. That's where the Comparative Market Analysis, or CMA, is most useful.
What is a CMA?
The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same neighborhood and price range. This information is further sorted by data such as type of home, number of bedrooms, number of baths, lot size, neighborhood, property condition and features, and many other factors. The purpose is to show estimated market value, based on what other buyers and sellers have determined through past sales, pending sales and homes recently put on the market.
How is the CMA created?
CMAs are generated by using property information from your real estate agent's Multiple Listing Service (MLS). The MLS is available to licensed members only, including brokers, salespeople, and appraisers, who pay dues to gain access to the service's public and proprietary data, including tax roll information, sold transactions, and listings input by all cooperating MLS members. Listing agents generate CMAs for their sellers, and buyer's agents create them for their buyers so both sides know what current market conditions are for the homes they're interested in comparing.
How accurate are CMAs?
The CMA is a here-and-now snapshot of the market, based on the most recent data available, but it can instantly be rendered obsolete by a new listing, or a change of status in a home with the same criteria. Why? The market is constantly changing — new listings, pending sales, closed sales, price reductions, and expired listings. CMAs can vary widely, depending on the knowledge and skill of the person creating the CMA as well as the number and type of data fields that are chosen.
How can CMAs vary?
CMAs can vary widely, depending on the knowledge and expertise of the person inputting the search parameters. They also may vary between identical homes in that one property may simply offer better “curb appeal” or is in better condition that the other. Lastly, buyer and seller motivation can’t be quantified. It is typically impossible to say why a seller agreed to take less for their home or why a buyer paid more for another home. Family problems, corporate relocations and other reasons all play a role. What you can learn from the CMA is how long a home took to sell. If it was quick, the seller was highly motivated. If it didn’t, it was probably overpriced.
THE COMPARATIVE MARKET ANALYSIS
Is a CMA the same as an Appraisal?
No. Although the CMA is used to help determine current market value, it does not establish the seller's home value. A bank appraisal, on the other hand, is a professional determination of a home's value. The appraisal is completed by a licensed Appraiser, using guidelines established by the Federal Housing Finance Agency, which regulates federal housing loan guarantors such as FHA, VA and housing loan purchasers Fannie Mae and Freddie Mac. An appraisal is a comprehensive look at a home's location, condition, and eligibility for federal guarantees. For example, a home that doesn't meet safety requirements such as handrails on steps will not be eligible for FHA or VA loans until the handrail is installed or repaired. Appraisers use the same data in their market research to find comparable homes as real estate agents. While they are also members of the MLS, they also have additional guidelines from the bank to follow that minimize risk to the bank. They will take into consideration — and can adjust values to reflect — the speed of the market and whether prices are rising or falling. When the appraisal is finished, the bank makes the decision to fund the loan, or it may require the seller to fix certain items and show proof that the repairs have been made before letting the loan proceed. If the loan doesn't meet lending guidelines, the bank will decline the loan.
And is my home worth what the Internet says?
In short — maybe? Many homeowners like to visit sites like Zillow, REDFIN, etc., to see what their home is worth. What they fail to understand is that most of those sites have an 8% - 12% margin of error which means a home worth $400,000 could be worth anywhere between $360,000 and $440,000 and that’s if we only use a 10% margin of error. That is quite the large window!
Estimating a home’s market value is far from an exact science. These sites contract with major title companies to obtain county tax roll data which they combine with data obtained from the MLS, push it through their algorithm and bingo! You have your “Zestimate”!!
On February 29, 2016, then Zillow CEO Spencer Rascoff sold a Seattle home for $1.05 million, 40 percent less than the Zestimate of $1.75 million shown on its property page a day later.
YOUR COMPARATIVE MARKET ANALYSIS
Comparative Market Analysis
JANUARY
Chris Taylor
Keller Williams Luxury International
Summary of Comparable Properties
Analysis
Chris Taylor
Keller Williams Luxury International
Comparable homes sold for an average of $373 / sq. ft. Many factors such as location, use of space, condition, quality, and amenities determine the market value per square foot, so reviewing each comp carefully is important.
Chris Taylor
Listings
Chris Taylor
Keller Williams Luxury International
$625,000 3 Beds 3.00 Baths 1,780.0 Sq. Ft. ($351 / sqft)
CLOSED 8/2/24
Details
Prop Type: Single Family Residence
County: Riverside
Area: 252 - Riverside
Full baths: 2.0
Features
Association Name: Lake Hills Reserve
Association Y N: Yes
Attached Garage Y/N: Y
Community Features: Park
Contract Status Change
Date: 2024-08-02T00:00:00
Cooling: Central Air
Remarks
Half baths: 1.0
Acres: 0.13
Lot Size (sqft): 5,663
Garages: 2
Year Built 1996 Days on market: 19
List date: 4/7/24
Sold date: 8/2/24
Off-market date: 4/26/24
Updated: Aug 3, 2024 9:10 AM
List Price: $669,900
Orig list price: $669,900 Assoc Fee: $103
School District: Alvord Unified
Elevation Units: Feet
Heating: Central
Land Fee/Land Lease: Fee
Levels: Two
Listing Terms: Cash, Conventional, Fannie Mae, FHA, Freddie Mac
Lot Features: Landscaped
Parking Total: 2
Pool Features: Private
Pool Private Y N: Yes
Property Attached Yes/No: No
Room Type: All Bedrooms Up
Senior Community Yes/No: No
Sewer: Public Sewer
Special Listing Conditions: Standard View: City Lights
Water Source: Public
Year Built Source: Assessor Zoning: R-4
Location! Location! Location! Highly sought out neighborhood Lake Hills! This lovely home features 3 Bedrooms, 2.5
Bathrooms, boasting 1,780 square feet of living space plus an attached 2-Car Garage. Vaulted Ceilings, family room with
comfy fireplace open to kitchen. Back yard is low maintenance with a sparkling pool. All bedroom are upstairs. Master bedroom has a balcony and spectacular panoramic views of the city. Minutes to La Sierra University, schools and shopping. Easy access to 91 freeway and the La Sierra Metro Link station. Paid Solar system included. Wont last!!
Courtesy of Salem Realty Group, Inc. Information is deemed reliable but not guaranteed.
Chris Taylor
12292 Sandy Creek Drive
Riverside, CA 92503
MLS
$630,000 3 Beds 3.00 Baths 1,757.0 Sq. Ft. ($359 / sqft)
CLOSED 12/9/24
Year Built 1991 Days on market: 1
Details
Prop Type: Single Family Residence
County: Riverside
Area: 252 - Riverside
Full baths: 2.0
Features
Association Name: Lake Hills
Association Y N: No
Attached Garage Y/N: Y
Community Features: Suburban
Contract Status Change
Date: 2024-12-09T00:00:00
Cooling: Central Air
Remarks
Half baths: 1.0
Acres: 0.19
Lot Size (sqft): 8,276
Garages: 2
List date: 9/12/24
Sold date: 12/9/24
Off-market date: 9/17/24
Updated: Dec 9, 2024 4:42 AM
List Price: $620,000
Orig list price: $620,000
School District: Riverside Unified
Elevation Units: Feet
Heating: Central
Land Fee/Land Lease: Fee
Levels: Two
Listing Terms: Cash, Conventional, FHA, VA Loan
Lot Features: Lawn Main Level Bedrooms: 3
Parking Total: 2
Pool Features: None
Pool Private Y N: No
Property Attached Yes/No: No
Room Type: All Bedrooms Up, Kitchen, Living Room
Senior Community Yes/No: No
Sewer: Public Sewer
Special Listing Conditions: Standard View: None
Water Source: Public
Year Built Source: Assessor Zoning: R-4
Welcome to your dream home in the desirable Lake Hills neighborhood! This charming 3-bedroom, 2.5-bathroom
residence offers 1,757 sq ft of comfortable living space, featuring beautiful flooring throughout and a cozy fireplace perfect for chilly evenings. The heart of the home is its stunning kitchen, complete with new stove and modern appliances, ideal for culinary adventures and entertaining guests. The spacious layout includes three generously sized bedrooms, providing ample room for relaxation and privacy. The new reverse osmosis water system ensures clean and crisp water for your family. This home is attractively priced to move quickly, making it a fantastic opportunity in Lake Hills. Don't miss your chance to own this delightful property schedule a showing today
Courtesy of William Johnson, Broker Information is deemed reliable but not guaranteed.
Chris Taylor
MLS
$642,000 3 Beds 3.00 Baths 1,570.0 Sq. Ft. ($409 / sqft)
CLOSED 9/24/24
Details
Prop Type: Single Family Residence
County: Riverside
Area: 252 - Riverside
Full baths: 2.0
Features
Accessibility Features: None
Association Name: Lake Hills
Association Y N: Yes
Attached Garage Y/N: Y
Community Features: Suburban
Construction Materials: Stucco
Contract Status Change
Date: 2024-09-24T00:00:00
Cooling: Central Air, Electric
Direction Faces: Northwest
Half baths: 1.0
Acres: 0.13
Lot Size (sqft): 5,663
Garages: 3
Elevation Units: Feet
Flooring: Carpet, Laminate, Wood
Foundation Details: Slab
Heating: Central
Interior Features: Quartz Counters
Land Fee/Land Lease: Fee
Levels: Two
Listing Terms: Cash, Cash To New Loan
Lot Features: Back Yard, CulDe-Sac, Front Yard, Sprinklers In Front, Yard
Year Built 1998 Days on market: 51
List date: 6/30/24
Sold date: 9/24/24
Off-market date: 9/24/24
Updated: Sep 29, 2024 3:56 AM
List Price: $639,900
Orig list price: $649,900
Assoc Fee: $109
School District: Riverside Unified
Parking Total: 6
Patio And Porch Features: Patio Open
Pool Features: None
Pool Private Y N: No
Possession: Close Of Escrow
Property Attached Yes/No: No
Road Surface Type: Paved
Roof: Tile
Bathroom Features: Bathtub
Kitchen Features: Quartz Counters
Room Type: All Bedrooms Up, Kitchen, Laundry, Living Room, Primary Bathroom, Primary Bedroom
Senior Community Yes/No: No
Sewer: Public Sewer
Spa Features: None
Special Listing Conditions: Standard
Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected
View: Hills Water Source: Public Year Built Source: Assessor Zoning: R-4
Remarks
Beautiful 3 bedroom, 2.5 bath home with 3 car garage on a quiet cul-de-sac. Located in beautiful Lake Hills community, south of the 91 freeway. New quartz counter tops in kitchen, new carpet & laminate upstairs, new paint throughout interior. Wood flooring downstairs. All stainless kitchen appliances included.
Courtesy of HomeSmart, Evergreen Realty Information is deemed reliable but not guaranteed.
Chris Taylor
SO WHAT DOES THE INTERNET SAY ABOUT YOUR HOME?
$665,000 $468,588 $642,200 $602,000
Not a typo, but a great example of how these 3rd Party real estate sites can get their numbers so wrong.
WHAT DO I THINK?
Based on a close review of homes comparable to yours in Lake Hills, our current market conditions, and the implementation of my marketing plan, my Current Value Assessment for your home would be:
$640K - $670K
I would also like to add that based on the single picture you sent me displaying your great property condition, my belief is that you would sell for a number at or in excess of $650K despite the fact that the comps point to a number in the lower $600s.
To get a more accurate assessment of property value, a physical inspection would be required.
National Association of REALTORS (NAR)
California Association of REALTORS (CAR)
Orange County Association of REALTORS (OCAR)
#1 Producing Agent in Lake Hills since 2012
(Data compiled from the MLS as of 1/9/25)
Luxury Home Sales Designated
Contingency Sale Specialist
Certified New Home Co-Broker
Certified Divorce Expert
Top 1.5% of Individual REALTORS in the nation
Team Lead for Taylor Realty Group with offices in Corona, Huntington Beach, and Palm Springs
Meet Chris…
A true Californian through and through, realtor Chris Taylor was born and raised in South Orange County and has resided with his family in Lake Hills Reserve since 2008. His lifelong experience in the region and many years living in L.H.R. has given him unparalleled knowledge about Lake Hills which provides an invaluable advantage for his clientele here on the hill and one he cites as a very big reason for achieving record-setting sales again and again. (3 of the 5 highest sales in Lake Hills HISTORY were represented by Chris).
Over his career, which began in 2003, Chris has enjoyed time as a realtor, new home sales agent, and mortgage consultant, providing him with a thorough understanding of every facet of the real estate business. As a result, he can personally guide his clients through each stage of the buying or selling process. Chris knows that communication and integrity are key to a successful transaction, and he is dedicated to always being available to his clients while offering professionalism, commitment and attentiveness that never fail to exceed expectations.
Chris is a fourth-generation Southern Californian with a love for surfing, screenwriting, and the movies. Prior to real estate, he worked in front of and behind the camera in the entertainment industry, concluding as a talent agent with the prestigious William Morris Agency. Chris lives with his wife, Terry, their disabled grandson, David, for whom he is the primary caregiver, and a menagerie of two dogs and three cats. He has made frequent real estate-related appearances on on Fox 11 News, Good Day L.A., and Inside Edition.
Meet the Team
Tracie Albert
Operations Director
DRE# 01432850
With a high regard for the overall client experience, Tracie oversees the Operations for Taylor Residential Real Estate. A licensed Real Estate Agent herself since 2004 with experience in Residential, Investment and Luxury Sales as well as Short Sales, REOs and House Flipping, Tracie possesses a comprehensive level of Real Estate-related expertise that is largely unsurpassed. As a key component to Taylor Residential Real Estate’s success, Tracie has access to a variety of tools and resources designed to foster the most rewarding experiences for clients with even the most complex goals at hand in addition to cutting edge marketing techniques and strategies and innovative resources.
Brenda Listana Administration
With over 5 years of experience and having worked for some of the biggest e-commerce companies in the world, Brenda has established herself as a strong Customer Support Representative. She takes great pride in her exceptional computer skills, organization, planning, and administrative abilities and her experience has taught her the importance of attention to detail, resilience, and flexibility. Brenda commits herself fully to any task and embraces the responsibility.
Anthony Zervas Lead Agent
DRE# 02047324
Valerie Alicajic
Marketing Director
Anthony Zervas views architecture with a genuine passion that he is eager to share with buyers who are seeking a home that ideally suits and even exceeds their personal and financial goals. With a broad spectrum of experience, know-how, determination, and dedication, Anthony has rapidly built a following of clients who appreciate his down-toearth approach and unyielding commitment to unparalleled service. An avid traveler and snowboarder, Anthony is a genuine family man and spends much of his free time with his wife, Mel, and their daughter, Avie. He is also an award-winning chef with experience with high-end restaurants, five-diamond hotels, and as a personal with celebrity clienteles.
Valerie’s passion for design began at an early age, culminating in earning her Bachelor of Arts degree with an emphasis in graphic design at California State University Long Beach, and most recently, a Multi-Media Certificate in Web Design from Golden West College. Today, Val spearheads our design strategies and executes creative concepts that ensure maximum exposure. By conceptualizing and designing projects from start to finish, she creates a cohesive message portrayed through color, art and photography, all while meeting intense deadlines.
Brooke Fetzer
Property Designer
DRE# 01432850
Brooke Fetzer, "The Property Stylist", is a Certified Feng Shui Practitioner with YEARS of experience in the art of Home Staging. With over 1500 homes to her credit, Brooke is detail-oriented and works seamlessly with Sellers to prepare their homes for sale with careful attention paid to the individual marketing needs of each home so they can stand out from the rest online.
