How Much Is My Home Worth?
Some sellers believe their home is worth less than it really is, but most have an inflated, almost lopsided opinion of their home's value. Pricing a home correctly involves an in-depth analysis, dependent largely on statistics but also on an emotional appeal, the latter of which is an intangible.
Sellers don't seem to remember how much a home actually sold for, but they will remember their neighbor's original list price, which is often a lot higher. At first blush, many sellers will admit that they disregard sale comparisons for such factors as square footage, improvements, condition and location, which is why they don't always understand how an updated two-story down the block might be worth considerably more than their modest cottage sans air conditioning.
Here are tips on how to figure out how much your home is worth and how to price that house to sell . . . read more
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©2006 Elizabeth Weintraub
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Comments
Elizabeth,
You make wonderful points in all of your articles. I have been reading them for quite a while and am intrigued on how you find the time to continue well planned and detailed articles. I find it hard to keep up on my own on a daily basis.
With regards to your article, something else I tend to consider when helping price a home for my clients needs it their need to sell. If their plan is to sell in a distant future (i.e. 4 months or longer) rather than the immediate need I usually recommend to them to consider the holding costs/payments necessary to keep their property for the interim. Now I multiply the time they want to sell (plus a month or two) by their monthly mortgage payment and recommend pricing their home immediately to that newly established bottom line. There is no point in holding a property to expect a higher price in the future if you can help them get into their new home sooner without the loss.
I look forward to future articles.
developersagent.com
Great article…I am reminded occasionally of the articles here by clients. They love your easy to read and understand articles about buying and selling real estate. Because of a few clients opinions, I wanted to see for myself. Great job. Regards Suzi Enders. Visit www.paradiserealestate.us
Definitely dont go to zillow to find out. I find people getting in big financial trouble when they rely on zillow.