FAQ 23 Where can I find out more about Grid Variance Analysis?
Grid Variance analysis is a technique which involves examining the market prices in a specified area and mapping these prices in ranges on a scale of low to high together with the volume of sales in each price range.
Choose your preferred supplier of data or alternatively use Corelogic to provide the information.
The results if plotted would form a \’Bell Curve\’ The high point of this curve would be where the most buyers would be looking at price wise. Ie the largest VOLUME of the market. It is logical to sell into a voluminous market ( Supply and demand)
After examining a number of chosen target areas, the area with the largest variation between the low price bracket and the price bracket on the high point of the Bell Curve would be the best one to choose for maximum potential gain.
As a rule of thumb, with a cosmetic renovation you would be looking for a 35% variation from low price bracket to the top of the curve price bracket ( or alternatively a 26% variation from the top of the curve price bracket to the low price bracket)
The 3 Day Bootcamp Day 1 Session 3 covers this topic and how it can be undertaken using a manual technique of gathering and plotting data obtained from various sources.
Dymphna has produced 2 WEBINAR videos which also describe how this process is undertaken in more detail. These are webinars #30 and #38
In addition, we ( your coaches) have done a webinar on this topic
Click on the links below to access:-
The Grid Analysis Log Sheet can be downloaded here
Grid Analysis Log Sheet
A useful tool which can be used to determine the high and low price points in an area postcode can be accessed here.
http://www.homepriceguide.com.au/Default.aspx?source=DOMAIN/
The automated GVA software ( John Bone) is no longer being marketed by Knowledge Source.
Instead the GVA functionality is incorporated into the HOT PROPERTY FINDER software.
Train to use it using this link
Michael & Sara
Ultimate Coaches
The information supplied is general only and not intended to replace professional advice.
