Real Estate in Barrington & The Northwest Suburbs: Real Estate in Barrington - Education on Property Prices

Real Estate in Barrington's primary goal is to help buyers find the perfect home at the right price. The right price can sometimes be a little difficult to pin down. Barrington does not have your typical subdivisions like in many of the suburbs with cookie cutter type homes from which to pick recent comparable sales from.

So how can a buyers agent not only come up with some good comparable sales but also educate the buyer on prices?  The best choice for you is to pick a Barrington Realtor. Even better if they have also lived in Barrington for a while. You see looking at sales in our MLS system is one thing but you and I both know you should never judge a book by it's cover. An out of town Realtor is going to do just that. While it may give them an idea or range of pricing, there are contributing factors that drive the price of Real Estate in Barrington.

Contributing Factors to The Price of Real Estate in Barrington

To establish a property's value we should always look for similar sized, age, style, accommodations in a house, within certain parameters. For example, having worked for four years as a property values estimator, I know it's within acceptable limits to find properties that are 10 years older or younger but no more. Square footage differences can be accepted again with a reasonable difference, but there are things which have a much larger affect on value.

The biggest one is location. For example a comparable home in Lake Barrington will never sell as high as the equivalent property in South Barrington.

School District. Again this can be a huge factor. There are some homes in 60010 that attend Lake Zurich schools and not Barrington. That will not make much of a difference as both schools are comparable. Barrington High School 2011 had a composite ACT score of 25. Lake Zurich 24.3. However some Barrington addresses attend District 300 schools and their average was only 19.2. This can make a huge difference to property values.

The issue of schools is very subjective and I would never advise a buyer to choose a home based on anything other than their own school research and findings. That said for resale it should always be considered.

Lot Sizes. Much of the Real Estate in Barrington is situated on 1 acre lots. We also have 2, 3, 4, 5, 10 acre lots and more. What about properties in the Village of Barrington, on small lots? No comparison. So while there is not much difference between 1 or 2 acres, lot size must be considered.

Smaller factors. Nearby roads, condition, maintenance, upgrades etc all contribute to a value and all must be taken into account. An experienced Barrington Realtor may not be able to find any comparable sales nearby but will know where to look and where not to look, what can be used and what cannot. Whether you are buying or selling real estate in Barrington, it's not a good place to choose a rookie agent to help you or hire an out of towner.

When you are ready to buy your piece of Real Estate in Barrington, give us a call or send an email. We are locals and have been since 1996.