How Much Is Your House Worth?

By
Real Estate Broker/Owner with Lizette Realty - Richmond KY 205403

How much is your house worth? This is a huge question when listing houses these days.

Pricing is all over the place in Central Kentucky. It is a seller's market so they say. Sellers that overprice, are seeing their homes linger on the market from lack of interest. If they do get an offer, it will probably be contingent upon appraisal at purchase price. That really is an eye opener once all the sold comps are reviewed for the appraisal. Then the buyer and seller must agree on the new price or drop the deal. A bank will only loan on what the appraisal is.

Your home price can't be what the price of your next house will be. Also, all the improvements that you have made are not all refundable by the new buyer. If you have made improvements I hope you have enjoyed them. That's what they are for. Not all updates are appreciated by a prospective buyer. Everyone has a different idea or plan. Have a REALTOR walk through your home before making updates and give ideas on where improvements should be made to help your listing price. 

I often think that we as REALTORS make this home selling business look easy. Not everyone can put all the puzzle pieces together to get to a successful closing. There are also a lot of people involved. It's taken me years of training and deals to be able to see all of the angles to make this all smooth sailing. If you want to make the most money on your home, hire a professional. You will sleep easy knowing someone has your back. Getting your home priced correctly from the beginning will be a good start.

 

Lizette Fitzpatrick
Lizette Realty
859-979-2834
lizettefitzpatrick@hotmail.com
kentuckyology.com
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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Gabe Sanders 09/06/2018 11:00 PM
Topic:
Real Estate General Information
Location:
Kentucky
Groups:
Independent Brokerages
Posts to Localism
Local Expert
Diary of a Realtor
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Tags:
listing
pricing
advice
title company
appraisal value

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Rainmaker
3,178,090
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Lizette, you are absolutely right the better the Realtor the easier it looks selling a house. Funny you mentioned that I sold a house five doors down from where I live and I inspired the neighbor to get her Real Estate License....now she is finding out the painful reality:)Endre

Aug 22, 2018 06:44 PM #1
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Lizette Fitzpatrick
Lizette Realty - Richmond KY - Lexington, KY
Lizette Realty, Lexington KY MLS - Kentucky Homes

We really do make this look so easy. It's a wonder all my clients arent Realtors now.

Aug 22, 2018 06:46 PM #2
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

We do make it look easy but the truth is it is hard. Thanks for your thoughts on this, Lizette.

Aug 26, 2018 06:47 PM #3
Rainmaker
4,796,551
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have always liked to tell people that their home is worth only what someone is willing to pay for it.  (But, that just gets the conversation started.)

Aug 27, 2018 04:55 AM #4
Rainmaker
4,025,277
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Lizette, excellent post, and when the market shifts a bit, Sellers have a tough time understanding they need to price a home correctly so it doesn't linger!  

Aug 30, 2018 04:41 AM #5
Rainmaker
1,406,142
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Exactly right - the home price isn't necessarily what they need for the next home, or the amount they spent plus all the updates. It's whatever the market will support.

Sep 07, 2018 04:11 AM #6
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Lizette Fitzpatrick

Lizette Realty, Lexington KY MLS - Kentucky Homes
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