Who Really Determines The Value Of Your Framingham Ma Home
Realtors determine value by comparing smiiar style homes, size, acreage, bedrooms, and upgrades made to your home compared to others within a .5 mile radius. The properties that sold in the last 3 months is the best determination of value. If there are not many sales than going back 6 months is still an accurate measure using similiar sold properties. The condition of the property compared to the other solds closeby is aso a major determinant of value too. In this market it is still important to price correctly or at least not overprice by too much, because this will sell the other similiar homes faster, and you will lose more money the longer your home sits on the market.
Less options for buyers to buy your new home in Framingham puts more pressure on buyers to come up with a higher offer price right off the bat in this competitive seller's market for the property they want. They also know if their expectations are set by their agent, that coming in close to asking or at asking from the start gives you the best chance to get your new home. Especially on homes in good condition, there will definately be more than 1 offer on almost every on in this market.
As agents we use comps and usually come pretty cose to seing price, but a home is worth what a buyer is willing to pay. The buyer and the price they will pay in the current market is really the only determination of value. Framingham homes are selling at and over asking in average to mid range price ranges. Luxury homes will always have a little more spread between the asking and sales price.
Framingham is another one of the smoking hot metrowest towns where homes are selling in days if priced right and in good condition. Luxury homes take longer to sell becuase there are fewer uxury buyers, than mid range price buyers. In a hot sellers market homes sell faster and for more money. A buyers market has more homes on the market and less buyers out to buy them. Buyers really determine the value of your Framingham Ma home in 2016. If you are going to make improvements to your home, your focus should be on the kitchen and bathrooms to hep increase the value of your property.
One of the biggest mistakes I see sellers make all the time is hiring the agent that tells them the value of their home is worth more than the other agents. Basically telling you what you want to hear. This is a huge mistake because these are always the istings that exoire or dont sell. The sold comparables are facts of record. If an agent tells you can get more money, you will actually end up losing money because it will sit on the market longer. The longer your home sits on the market , the more buyers think there is an issue with it, and you will also receive less oney for it.
For an experienced agent who understand the Framingham market, I am here to help sell your home fast and at top dollar. Call me today!