Pricing Your Home

Dated: 11/15/2016

Views: 171

Pricing your home takes a lot of things into consideration - Market, Condition, Location Location Location, and sometimes the desire to move or buy.  So often sellers have their own way of determining the value of there homes way before they ever sit down with a professional - Many base their opinions on how they feel about their homes, "My house has a better basement, than my neighbors house".  Some branch out and check online evaluation services and can be very misleading (even the CEO of Zillow didn't sell his house with that value).  

The true is the value of your property is what a buyer is willing to pay for it, and if the buyer is getting a loan then the value may be determined by an appraiser working for the lender. Appraisers do not use emotions and use an arms length evaluation to arrive at the values - with local sales and comparable properties.

These items do not determine a home's value.

What you paid for the home.

How much you have invested into the home.

How much you owe on the home.

What the tax assessor says.

What Zillow says.

How many bills you want to pay off with the proceeds.

How much you will have to pay to buy a new home.

How much you value it and love the home.

What a great floor plan you think you have.

How much better than you think your home is than others in the neighborhood.

Improvements you made that overbuilt your neighborhood.

How much you have loved living there.

How many compliments you have received from friends and family.

How pretty or expensive your furnishings are.

The good times and memories you have made while living in the home.

A good local real estate agent can give you an evaluation of the real value of your home. Agents use the same basic steps of comparing homes to closed homes that appraisers do. Local agents know trends and what is happening in the neighborhoods. 

A good agent should also be able to show you these trends and market data, making the sale of your home a smooth transaction and not one that you regret for years down the road. 

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