I’m excited to be part of a great team at Prairie Skies Realty with Ryan and Robyn!
After many years of being real estate colleagues, Robyn Luthi and Ryan Anderson founded Prairie Skies Realty in April 2022. The main office is located at 202 Main Street in Melfort. I joined their team in July and provide real estate services to Candle Lake and area. We are proud to be a small, local business that believes in being there for their clients by providing professional and friendly real estate services.
Here for You
Real estate decisions can be difficult and complicated, which is why it’s important to take an informed approach. When you meet with me I’ll explain the different types of listings, what tools are available to help you buy or sell, and create an action plan that you will be happy with.
GET IN TOUCH
What is my property worth?
It is an important question most people ask when they consider selling their property. The answer can be surprisingly subjective, but a professional real estate agent has tools they can use to find an objective answer. However, the seller the has the final say on the sale price, so never feel pressured into too low or too high a price if that is not want you want. It's your property and your decision.
METHODS OF PROPERTY VALUATION
Direct Comparison Approach
A professional looks at recent sales in the same neighborhood and takes into account the differences in the properties calculates a value that a buyer would be willing to pay under the same market conditions. This method works best if there have been a lot of recent sales, providing a good source of data to compare the seller's property.
This approach looks at what the site (land) is worth today, adds a value for improvements (buildings) and subtracts the depreciation (age) to come up with a current market value. However, the value of improvements changes over time and an older house with similar features to a new structure will likely not be valued as high in today's market.
Income (Investment) Approach
For commercial and investment properties, including farmland, a potential buyer will look at the revenue minus expenses that a property will incur over a given period of time. Then they take the projected income, divide it by the sale price and find their rate of return. The net operating income is then divided by the rate of return to reach a market value. In this way, investors can compare which properties will give them the greatest rate of return on their investment.