Property Providers Who Grade Property and Neighborhoods

6 Replies

As of lately I feel more and more people are trying to give property and neighborhoods a grade just like you were grading a high school paper and you received a C+ or B-, heck even an A!!!!   

As a turnkey provider this is a difficult and touchy area as if you lined up 5 TK providers and gave them an address in their own market, my bet is you would get mostly different grades on the property as well as the area.   Here is an example to be more specific;  Had a prospective client ask if a home I was selling was in a B+ area.  Now, the neighborhood to me is a C level area at best primarily made up of 3 bed 1 bath homes.  Our house for sale was a 3 bed 2 bath, fully renovated with new roof, HVAC, kitchens and both bathrooms and much more so I felt that this home was a B+,A- home in a C level neighborhood.  Client wanted B+ for both neighborhood and property.  You tell me where I can buy a B+ home in a B+ neighborhood for $60k and Im all in!!!!!!

You see it can get confusing trying to give all these grades to neighborhoods and houses, especially when one provider tells their client a home is a higher grade and then when the client transfers the management to another company and that company tells them that its actually a lower grade/quality they wonder what happened!!

Anyone else have thoughts on the grading system?

@Curt Davis  Unfortunately, the grading system is totally subjective, and each person you ask will have a different opinion.  We're not even all using the same scale!  Some go A-F, some go A-C-.  We should start grading each component of a property on a 10 point scale.  HVAC still there? +10.  No holes in the roof? +10.  No mold? etc.

Area - Less than 25% of kids in the free lunch program? +10. No murders this year? +10. Any people hanging out on the street in the middle of a workday?  No? +10.

Someone should create this.

@Curt Davis - this very thing is very frustrating as someone looking at turnkey properties out of state. What one person calls a C/D area, others are calling a B/C.

It seems that we need some kind of standard based on objective criteria to define a "letter grade" for areas, but I'm not sure what that should be or even if it would work, as these letter grades seem to vary in different markets.

If like to be able to filter properties by "grade" if I could normalize across markets.

For this very reason, everytime I am asked "what garde neighborhood is this? A, B, C?"

I preface it with my personal defination of the grading system because there is no right or wrong answer.

Originally posted by @James Wise :

For this very reason, everytime I am asked "what garde neighborhood is this? A, B, C?"

I preface it with my personal defination of the grading system because there is no right or wrong answer.

Same thing with me James,

Everyone has a different perception on this.

I always share mine from an Ohio standpoint of view and considering myself an average blue collar working class guy :)

Thanks

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