What Is Your Home Really Worth?

People putting their home up for sale often call real estate offices to find out the value of their property. Each real estate office or agent has different ways of working with the people seeking this assistance. One thing that is certain is that even a realtor who has been in business for 30 years is not a property pricing expert. Every house has its own features and must be considered individually.

My assessment of value takes into consideration the same factors a fee appraiser would use: size, view, location and condition of the property in comparison with recent "comparable" sales. These sales must have occurred within the last six months.

In analyzing these factors, a written format is presented to the person requesting this information. Should the person actually decide to sell, there are several additional steps which I undertake to determine the best "asking price." These would include bringing several other top area agents from my office through your home to get their opinions of actual selling price, updating the comparable data at the time you are ready to sell, and taking a careful reading of what is happening in the marketplace at the time. For example, the marketplace today is considerably stronger that it was last year at this time, which means a different selling and promotional strategy must be used.

Ultimately, the price you ask for your home is up to you. However, guidance from a knowledgeable agent can assist you in establishing the best asking price for your home. A house that is sensibly priced will attract a lot more buyers in a shorter time. One that is not will sit on the market - ignored by prospective buyers - for a very long time.

As we often say, a property owner can list property at any price, but the final selling price is established only when the prospective buyer is willing to pay a price which the seller is willing to accept.

If you would like to get more information on this subject, or if you are interested in finding out how much your home is worth, give me a call. I will be very happy to assist you in whatever way possible.

- Herman Sun