Do You Know Your Home's Fair Market Value?
How can you find out how much your home would sell for? Ultimately, a house is worth what someone is willing to pay for it. But to attract the group of prospective buyers who will be most likely to purchase your house, you need to list it at the right price-its fair market value.
How can you know what is the right price? Talking to a professional real estate agent is the most reliable way to discover the value of your home. When we make a comparative price analysis we look at the prices of homes like yours that have sold in your neighborhood recently. It's not only important to find out what homes have been selling for, it's also important to learn at what process they go unsold. Overpricing a home is he single biggest mistake you can make when listing a house for sale.
We also factor-in local real estate trends, current economic conditions and any local data that could make houses more valuable, such as job growth in the area. And, of course, we consider the age and condition of your home.
Some of the items that should not be considered in a comparative price analysis include the original cost of the home, money spent for improvements, or how much cash you would like to net from the sale. While these factors are important to you, they have no bearing on the fair market value a buyer will be willing to pay.
Call me to find out how much your home is worth!
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