Let’s Talk Real Estate! “DETERMINING A HOME’S WORTH” August 22th, 2018
Lets Talk Real Estate!
“DETERMINING A HOME’S WORTH”
When determining their home’s worth, sellers predominantly rely on a “comparative market analysis” that is prepared by a real estate agent, who compares the property to recently sold, similar properties and adjusts for features and benefits. Once price range is determined, sellers work with their agents to set a “listing price” that is calculated to attract buyers and net sellers the most profit. While “appraisals” are also used to determine market value, they are performed by licensed appraisers as part of the buyer’s mortgage prices and are designed to protect banks from lending too much money. An”assessment” has nothing to do with the value of a home and is simply intended to determind property taxes. No matter how amazing your remodeled kitchen or finished basement are, the arkey sets a value. Attending open houses in your neighborhood, even at houses that aren’t quite comparable to yours, will also be informative. Viewing other homes helps you get a real sense of what drives list prices up and down. For more information please call or stop by our office. “OUR SUCCESS HAS BEEN BUILT ONE SATISIFIED CUSTOMER AT A TIME.”