home sales: Defining Value in Real Estate
- 11/15/08 07:29 AM
Many Sellers today have a Perceived Value of what their property is worth. They will value their property based on a recent sale in the neighborhood or a past appraisal that was done when the seller refinanced. A seller will also justify a final value based on location, recent renovations, and additions done to the home.
Absolute Value is what a buyer is willing to pay for a home. A buyer will determine this value by asking a realtor about the sale price of comparable sold properties, as well as comparing the price of similar available properties. Buyers will determine … (3 comments)
Many Sellers today have a Perceived Value of what their property is worth. They will value their property based on a recent sale in the neighborhood or a past appraisal that was done when the seller refinanced. A seller will also justify a final value based on location, recent renovations, and additions done to the home.;)
;)
