What your home is really worth
Have you ever wondered why Real Estate agents sometimes give conflicting values on the same property? In Reality your home's value is determined by what comparable properties in the area have sold for in the recent past. A bank will only give a loan on a property that they feel has a value that is equal to or greater than the purchase price. So the saying location, location, location is really a true statement. Nothing is worse for a seller to receive a contract on your property from an out of town client for 20% more than any of your neighbors! You ask why? Because when you get a contract on your property the agent is required to pull the house off the ACTIVE market until the contract has run it's course. As the days add up, your new listing is no longer new, any defects found during the inspection period must now be disclosed to prospective buyers and 15-45 days later when the bank comes back with the appraisal that is lower than the contract and is the true value of the house, the seller can walk and receive the earnest money back because the contract would be contingent on availability of financing based on contract price being equal to or less than appraised price. A property priced correctly will sell at a higher price than one that is over priced. Also you might think that if you put a 150k house(true value and you know it) on for 195k that it will sell for 150k, not true. First the home buyer for 150k home will not waste time looking over 150k(too many choices) and you are now competing against 195-200k homes with extra bedrooms and baths. And I have seen this many times, and after several months of making payments on the house(losing thousands of dollars) the seller finally drops to 150k but then it has been on the market for 100+ days and all that a buyer see then is a 150k house that has not sold in over 100 days(WHATS WRONG WITH THAT HOUSE) then it finally sells for 135k and after 1 or more years on the market. You have seen this before, it happens all the time when a seller starts off too high and the agent didn't do their job of finding the real value of the property. It is in mine and the seller's best interest to sell quickly and for top dollar. My team and I are not into having listings for long periods of time, that is why we price our properties correctly(not too high or too low)use the internet and other media to sell the property as soon as possible. Visit my website to see more of our tools that we use. http://www.wpafbhomesonline.com/
http://www.wpafbhomesonline.com/Map_of_Neighborhood_Sold.html
http://www.wpafbhomesonline.com/Real_Estate_Cash_Rebate.html
http://www.wpafbhomesonline.com/RELOCATION_SERVICES.html
http://www.wpafbhomesonline.com/Map_of_Neighborhood_Sold.html
http://www.wpafbhomesonline.com/Real_Estate_Cash_Rebate.html
http://www.wpafbhomesonline.com/RELOCATION_SERVICES.html
Posted by Richard Tebbe at 1/5/2010 2:05 AM 
Categories: house values, neighborhood property values
Tags: house values property values realtor valuation
Categories: house values, neighborhood property values
Tags: house values property values realtor valuation
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