Square Footage pricing

[Matt J]

Could one of the liscensed real estate agents explain to me why some people use only per square foot pricing to compare ever home on 30A? It just seems odd to me when people quote this and compare a house in Owl's Head to a Gulf Front home in the Retreat. Is this truly comparison shopping? Would someone compare vehicles by price per cubic inch?

Thanks in advance.

 

[Smiling JOe]

I await the answer, too, as I've always wondered the same thing.

 

[AAbsolute]

Could one of the liscensed real estate agents explain to me why some people use only per square foot pricing to compare ever home on 30A? It just seems odd to me when people quote this and compare a house in Owl's Head to a Gulf Front home in the Retreat. Is this truly comparison shopping? Would someone compare vehicles by price per cubic inch?


Funny.

 

[JUL]

It's always been sq foot. Now it is just in print....before you just had to do the math...but now that it is out there in print it just gives people one more thing to compare....

 

[steyou]

The primary reason is because the secondary mortgage market requires this on the URAR (Uniform Residential Appraisal Report) form. Of course there is much to consider to get to the $ per sq ft. Some but not all considerations are basic shape, roof, interior walls, features, so forth.

 

[AAbsolute]

Garbage in, garbage out.

 

[fisher]

Could one of the liscensed real estate agents explain to me why some people use only per square foot pricing to compare ever home on 30A? It just seems odd to me when people quote this and compare a house in Owl's Head to a Gulf Front home in the Retreat. Is this truly comparison shopping? Would someone compare vehicles by price per cubic inch?

Thanks in advance.

Doesn't make sense in your example. However, in comparing houses in similar locations, in the same neighborhood with similar interior fit and finish, it does make sense. Appraisers definitely use cost per square foot in doing their analysis of home values.

 

[scooterbug44]

Some do it because it is one of the few actual stats to compare - like number of bedrooms or bathrooms, feet of water frontage, or acreage. It's a starting point, but not the end-all and be-all, just helpful as a point of reference.

The people who ONLY talk about price per square foot are either deliberately or ignorantly leaving other factors out of the equation.

 

[Bobby J]

It is a good starting point but "many" other factors have to play into it. Porches and garages are not free.