1 A Look Back The Appendix reviews algebra essentials, geometry essentials, and equations in one variable. A Look Ahead Here we connect algebra and geometry using the rectangular coordinate system. In the 1600s, algebra had developed sufficiently so that René Descartes (1596—1650) and Pierre de Fermat (1601—1665) were able to use rectangular coordinates to translate geometry problems into algebra problems, and vice versa. This enabled both geometers and algebraists to gain new insights into their subjects, which had been thought to be separate but now were seen as connected. Outline 1. 1 Graphing Utilities; Introduction to Graphing Equations 1. 2 The Distance and Midpoint Formulas 1. 3 Intercepts; Symmetry; Graphing Key Equations 1. 4 Solving Equations Using a Graphing Utility 1. 5 Lines 1. 6 Circles Chapter Review Chapter Test Chapter Project Graphs How to Value a House Two things to consider in valuing a home: (1) How does it compare to similar nearby homes that have sold recently? (2) What value do you place on the advertised features and amenities? The Zestimate ® home value is a good starting point in figuring out the value of a home. It shows you how the home compares relative to others in the area, but you then need to add in all the other qualities that only someone who has seen the house knows. 1 Looking at “Comps” Knowing whether an asking price is fair will be important when you’re ready to make an offer on a house. It will be even more important when your mortgage lender hires an appraiser to determine whether the house is worth the loan you’re after. Check on Zillow to see recent sales of similar, or comparable, homes in the area. Print them out and keep these “comps.” You’ll be referring to them quite a bit. Note that “recent sales” usually means within the past six months. A sales price from a year ago probably bears little or no relation to what is going on in your area right now. In fact, some lenders will not accept comps older than three months. Market activity also determines how easy or difficult it is to find accurate comps. In a “hot” or busy market, you’re likely to have lots of comps to choose from. In a less active market finding reasonable comps becomes harder.And if the home you’re looking at has special design features, finding a comparable property is harder still. It’s also necessary to know what’s going on in a given sub-segment. Maybe large, high-end homes are selling like hotcakes, but owners of smaller houses are staying put, or vice versa. Source: http://luthersanchez.com/2016/03/09/how-to-value-a-house/ —See the Internet-based Chapter Project— Credit: Andy Dean Photography/Shutterstock
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