A good REALTOR will tell you the true current value range for your home.
Just like the stock market, there is a price buyers are willing to pay at a particular point in time.
My late mother, super-agent Judy Carr cautioned sellers with two important sayings,
"The real estate market changes quickly and dramatically...and not always in your favor."
So unless a buyer puts in writing they will pay the Zillow Zestimate price today, the Zestimate doesn't matter. Which leads to Judy Carr's other saying,
"The only offer that counts is the written one in my hands today."
Seller's Have Biased Opinions of their Home Values
Many have their own opinions based on how they feel about their homes and their own evaluation. Some check online evaluation services and this is very misleading. The truth is the value is determined by what a buyer is willing to pay. If the buyer is using a mortgage then the value may be determined by an appraiser working for the lender. Appraisers use data based on past sales. They do not use emotions and use an arms length evaluation to arrive at the value.
These items do not determine a home's value.
- What you paid for the home.
- How much you have invested into the home.
- How much you owe on the home.
- What the tax assessor says.
- What Zillow says.
- How many bills you want to pay off with the proceeds.
- How much you will have to pay to buy a new home.
- How much you value it and love the home.
- What a great floor plan you think you have.
- How much better than you think your home is than others in the neighborhood.
- Improvements you made that overbuilt your neighborhood.
- How much you have loved living there.
- How many compliments you have received from friends and family.
- How pretty or expensive your furnishings are.
- The good times and memories you have made while living in the home.
A good local real estate agent can give you an evaluation of the real value of your home. Agents use the same basic steps of comparing homes to closed homes that appraisers do. Local agents know trends and what is happening in the neighborhoods. Local agetns have local experience. Listen to the recommendation of your local agent.
In Clarksville TN, contact the agent that knows the market, The Real Debbie Reynolds at 931-320-6730.
it would be my pleasure to assist you!
"The Real Debbie Reynolds"
931-920-6730 Office or 931-320-6730 Cell
Berkshire Hathaway HomeServices-PenFed Realty
2503 Wilma Rudolph Blvd., Clarksville, TN 37040
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