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What is Your Home Worth?

By
Real Estate Agent with The Melcher Agency


Setting the right price is an important first step in the process of selling a home. Is it necessary to spend $200 to $400 for a professional appraisal of your property before placing your home on the market?

A professional appraiser's opinion of a property's market value is based on the recent sales of similar homes in the neighborhood, and on the square footage and condition of the property. Different appraisers might come up with different figures. Even if all of them agreed on a value, there is no guarantee that you would receive that amount for your property.

An alternative to a professional appraisal is to ask a professional real estate agent for a written market analysis of your property. This analysis will include information about recent home sales in your neighborhood, as well as how those homes compare to yours. Real estate agents may provide this service with no charge or obligation. If you are still unsure of the value of your home, you may wish to pay for an appraisal.

The rough thing about appraisals is that if you talk to 10 appraisers, you're likely to get 10 different numbers. It's just how it works. If you don't trust the Realtor who prices your home, then it's best to find one you do trust. Don't go sign with a Realtor who is desperate to get your listing and is willing to give you a higher price to get it. How do you know? It comes back to trust. Appraising is an art as much as it is a science. An appraisal is not a sales contract, and it does nothing to get you a sales contract. It is only ever going to be an opinion, no matter what you pay.

A good Realtor cannot make your house worth more. In a market like today's, you may very well not get a number you like at a listing presentation. I would like to submit that going with a professional you trust is always going to get you better results than going with a number you like.

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