How to Find the Market Value of Your Baton Rouge Home?
A recent article "How to Find the Fair Market Value of Your House" agrees with what local Greater Baton Rouge Home Appraisers recommend: Obtain A Home Appraisal!
Most importantly, Home Appraisers will actually physically measure your home to obtain an accurate living area based on national A.N.S.I. standards. In Baton Rouge in April 2016, the average sold price per sq. ft. was $114/sf. If an Agent doesn't measure your home, doesn't know how to measure your home or copies an old and incorrect MLS listing in history, and living is off by 100 sq. ft., then you could potentially lose $11,400. http://www.gbrhomemeasurement.com/
Although the article states below an appraisal cost $500, for my pre-listing appraisal for a for sale by owner (FSBO) or listing with a REALTOR, they cost as little as $250 to $275. http://www.gbrprelistingappraisals.com/
I quote two paragraphs from the How to Find the Fair Market Value of Your House article below:
"Appraisals are the most effective
Whether you are refinancing, selling or buying, the only valuation that counts is the appraisal from a licensed appraiser hired by the lender who is doing your refinancing or financing a prospective buyer.
Even if the buyer and seller agree on a price, an appraisal lower than the agreed on price will force the buyer to come up with more cash or the seller to lower his price to save the deal. During times like these when prices are rising, appraisals often are lower than contract prices.
In fact, studies show that owners overestimate the value of their homes about 11 percent of the time. In February, appraisal issues killed 11 percent all deals that were terminated before closing."
"Should you get an appraisal before listing?
Getting the home’s value right is the first step in pricing a home before it is listed. Real estate agents can help you decide how to price your home for the market, but if you want to what it’s actually worth before you list it, you should hire an appraiser (generally around $500).
There’s one more reason that a current appraisal makes sense for sellers. Appraisal data is collected and aggregated by data services who sell it to websites with home valuation calculators. Getting a fresh appraisal into the mix increases the odds that the value that buyers see when they surf your listing will be more accurate and current.
Buyers can also hire their appraiser if they do not trust their lender’s appraisal, but fighting an appraisal is rarely a successful strategy."
When you truly want to know what the value of your home is, obtain a professional home appraisal!
Bill Cobb Appraiser