Real Estate<br />150K to 250K Homes<br />Team D<br />Yolanda Velez<br />Bobbi Morris<br />Gregg Ferragino<br />Jorge Ochoa...
Introduction<br /><ul><li>Real Estate Market
Price Range
Inconsistency in Price
Unemployment</li></li></ul><li>Purpose of the research<br /><ul><li>Consider all variables
Review and analyze</li></ul>-Data<br />-Current economy’s affect <br /><ul><li>Assess the fair market price
Assist home buyer/seller in transaction </li></li></ul><li>Dispersion Statistics Price<br /><ul><li>Range</li></ul>-$164.1...
Variance</li></ul>-$473.09<br /><ul><li>Standard Deviation</li></ul>-21.5<br />
Dispersion StatisticsSquare Footage<br /><ul><li>Range
1,700 to 2,900 sq. ft.
1,200 sq. ft. in range
Variance
88,275
Standard Deviation
297.11</li></li></ul><li>Research Questions<br />What causes house prices to go up or down?<br />What effects does the mar...
Research hypothesis<br />Prices of the house and what effected them.<br />Desired living such as schools and square footag...
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Statistical Analysis Real Estate Market

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Compare and Contrast price range for townships

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  • Let’s explore the real estate marketPrice range -The importance of understanding the real estate market , and the fair market value is the price a seller will accept and a purchaser will pay for property under ordinary circumstances (IRS, n.d). When special life situations arise, such as a seller needing to relocate quickly, the home may be sold higher or lower than the fair market value to hasten the selling process-Why is there an inconsistent price range?High unemployment – is it causing decrease in value of a home
  • Township 4 - Had the most house sold in Township 4Table 2a displays the homes sold in township 4, the median price range was $188,000 and the mode was $179,000. A fair market price for a 2000 to 2300 square feet long home in township 4 is $180,000.Township 5 - Table 1A displays the homes sold in township 5, the median price range was $207,000 and the mode was $188,000. The ranges provide Team D a start point to receiving a fair market price for a home in township 5.
  • Township 3 – At the lower end of the market township 3 had a median price range of $203,000 and the mode is $172,000. A fair asking price within township 3 is around $190,000 for a home that is 2200 square feet.Township 2 - Table 4A displays the homes sold in township 2, the median price range was $207,000 and the mode was $192,000. A fair market price for a home in township 2 is approximately $195,000Township 1 - Table 5A displays the homes sold in township 1, the median price range was $218,000 and the mode was $192,000. A fair market price for a homes in township 2 is about $224,000.
  • Table 2a displays the homes sold in township 4, the median price range was $188,000 and the mode was $179,000. A fair market price for a 2000 to 2300 square feet long home in township 4 is $180,000.
  • Influx prices due to unemployment - national average of unemployment is 6.9%; -Tampa area has 7.0% of unemployment (Simply Hired, 2010) - no fund – led to foreclosure Sampling – 20 homes within the range of $150k to $250k - The Histogram Chart visually displayed that most of the homes were sold for around $190k.Confidence Intervals - calculated the means and standard deviation to arrive at a fair market price range. Intervals lowerThe estimated lower confidence limit or value in township four was $171k. Higher The approximate higher confidence limit or value in township four was $218k.
  • Influx prices due to unemployment - national average of unemployment is 6.9%; -Tampa area has 7.0% of unemployment (Simply Hired, 2010) - no fund – led to foreclosure Sampling – 20 homes within the range of $150k to $250k - The Histogram Chart visually displayed that most of the homes were sold for around $190k.Confidence Intervals - calculated the means and standard deviation to arrive at a fair market price range. Intervals lowerThe estimated lower confidence limit or value in township four was $171k. Higher The approximate higher confidence limit or value in township four was $218k.
  • Visual display that showed chart skew to the left bring price down and offering a means price range of $194k with a square footage of 2,215 in township four.The minimum price was estimated at $164k with a 1700 square foot home.The maximum price for a home in township four within our sample was around $243 with a 2900 square foot. Hypothesis of range $150 to $250
  • Statistical Analysis Real Estate Market

    1. 1. Real Estate<br />150K to 250K Homes<br />Team D<br />Yolanda Velez<br />Bobbi Morris<br />Gregg Ferragino<br />Jorge Ochoa<br />Prof- Jefrey Grogan Res/341<br />
    2. 2. Introduction<br /><ul><li>Real Estate Market
    3. 3. Price Range
    4. 4. Inconsistency in Price
    5. 5. Unemployment</li></li></ul><li>Purpose of the research<br /><ul><li>Consider all variables
    6. 6. Review and analyze</li></ul>-Data<br />-Current economy’s affect <br /><ul><li>Assess the fair market price
    7. 7. Assist home buyer/seller in transaction </li></li></ul><li>Dispersion Statistics Price<br /><ul><li>Range</li></ul>-$164.1k - $243.7k<br /><ul><li>$79.6k in price range
    8. 8. Variance</li></ul>-$473.09<br /><ul><li>Standard Deviation</li></ul>-21.5<br />
    9. 9. Dispersion StatisticsSquare Footage<br /><ul><li>Range
    10. 10. 1,700 to 2,900 sq. ft.
    11. 11. 1,200 sq. ft. in range
    12. 12. Variance
    13. 13. 88,275
    14. 14. Standard Deviation
    15. 15. 297.11</li></li></ul><li>Research Questions<br />What causes house prices to go up or down?<br />What effects does the market have on the prices?<br />
    16. 16. Research hypothesis<br />Prices of the house and what effected them.<br />Desired living such as schools and square footage made a house price go up. <br />Economy also was a factor if the house price went up or down in an area. <br />
    17. 17. Sampling design<br /><ul><li>Population- All houses in inventory or sold
    18. 18. Sample - In the range of 150K to 250K
    19. 19. Location - Tampa, Pasco , Riverview, Brandon , Valrico
    20. 20. Appropriate size sample -drastic affect on the data</li></li></ul><li>Sampling Design<br />Tampa, Florida homes in township 2 priced at $150,000<br />Home below has 2bd, 2.5 bath, and is 1500 sqft<br />Home below has 3bd, 1& 1 ½ bath, and is 2065 sqft.<br />Price is the same but size is different<br />
    21. 21. Data collection<br />
    22. 22. Data collection<br />
    23. 23. Data analysis using descriptive statistics<br />
    24. 24. Conclusions and Recommendations<br /><ul><li>Influx Prices
    25. 25. Unemployment
    26. 26. Sampling
    27. 27. 20 houses
    28. 28. Township 4
    29. 29. Confidence Intervals
    30. 30. Fair market price</li></li></ul><li>Conclusions and Recommendations<br /><ul><li>Influx Prices
    31. 31. Unemployment
    32. 32. Sampling
    33. 33. 20 houses
    34. 34. Township 4
    35. 35. Confidence Intervals
    36. 36. Fair market price</li></li></ul><li>Conclusions and Recommendations<br /><ul><li>Visual Display
    37. 37. Means
    38. 38. Minimum
    39. 39. Maximum
    40. 40. Hypothesis</li></li></ul><li>References<br />Anonymous[j1]. (2010). Field Guide to Quick Real Estate Statistics. Realtor.org. Electronically retrieved 6 September 2010. <br />Anonymous. (No Date). Home Buying and Selling: Determining Real Estate Fair Market Value.Moneyinstructor.com. Electronically retrieved 6 September 2010.<br />Anonymous. (No Date). Tips for First Time Home Buyers. Realestateabc.com. Electronically retrieved 13 September 2010.<br />IRS. (No Date). Publication 561 - Main Contents. Irs.gov. Electronically retrieved 6 September 2010.<br />Prophet, R. (2009). Your Home's Fair Market Value. Prophetnews.com. <br />Electronically retrieved 6 September 2010.<br />Simply Hired. (2010). Tampa Jobs. Retrieved from http://www.simplyhired.com/a/local-jobs/city/l-Tampa%2C+FL<br />

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