THE MARKET VALUE OF YOUR HOME IS DETERMINED IN SEVERAL WAYS:

Reblogger
Mortgage and Lending with Paramount Residential Mortgage Group, Inc NMLS# 262906

Original content by Ralph Gorgoglione RS-78439 / BRE #01708344

The market value of your home is not:

• What you have in it

• What you need out of it

• What it is appraised for

• What you heard your neighbor’s house sold for

• What the tax office says it is worth

• What it is insured for

• Based on memories and treasures

• Based on prices of home where you are moving

The true market value of your home is….what a Buyer is willing to pay for the property TODAY:

• Based on today’s market

• Based on today’s competition

• Based on today’s financing

• Based on today’s economic conditions

• Based on the Buyer’s perception of property condition

• Based on location

• Based on normal marketing time

 

 

As a seller, you control:

• The price you ask

• The condition of the property

• Access to the property

 

As a seller, you do not control:

• Market conditions

• The motivation of your competition

• Value

 

Warning Signs:

AGENT Elimination – If agents are not previewing or if they preview but do not show your home, they are eliminating your property

BUYER Elimination – If your home is being shown repeatedly with no results, buyers are finding better properties in your price range. In either case, this is an indication that your home is not priced at current market values.

Remember: Price Overcomes all Objections!

Comments (2)

Nevin Williams
Fairway Independent Mortgage Corporation - Cary, NC
Senior Mortgage Advisor

Dan - well said my man! Do you think  maybe the unrealistic sellers will get a clue?

Jul 21, 2009 10:56 AM
Dan Magstadt
Paramount Residential Mortgage Group, Inc - Lake City, FL

Yea, I thought this was a good reminder on the TRUE way to determine market value

Jul 22, 2009 02:55 AM