Real Estate.?

Question

How does one determine the value of one's house? If I were to sell my home what is the best way to determine the value of my house? I was looking at a house an d don't think it is worth the asking price, how do i know what to make an offer?

Answer 1

Get a Realtor to do a comprehensive appraisal for you. Simple as that. It's a proven fact that Realtors gives better market/appraisal advice than owners. The fee or commission usually pay for itself.

Answer 2

Well, you can start by asking your Realtor to get you a CMA report. That is Comparative Market Analysis. That is the report that shows all sales of comparative properties within certain period of time. I would ask for a year. Also, consider what else is on the market. Now days the market stinks for sellers, so you may get away with making something that would be considered an insulting offer say 6-12 months ago, but now days the sellers will consider. They may or may not accept it, but still worth a try. Your Realtor should be your source, however, make sure this is an honest Realtor, not someone who will push you to buy any dump just to get commissions. Try to see everything that's on the market comparable and be fair. Say if there is another house that costs less but requires 75,000 of improvements then be fair. However, you don't have to pay dollar for dollar for improvements. Example say there are two houses, one is in good shape, the other one needs 40,000 worth of improvements. Than you can make an offer on a better house but offer 20K over the price of the one that needs improvements.
You can try to talk to a professional appraiser and see his opinion. Although, ordering a full blown appraisal before making an offer is not practical. Sorry for running on, but this question deserves a whole book, not just a short essay.
Good luck.

Answer 3

Find a very busy Realtor. The busier the better. They will know the market much better than a Realtor with just one or two listings. Ask every question you can think of. Look closely at the "comps" you are shown, If you feel comfortable that the Realtor is knowledgeable, then believe them and take their advice. The worst thing a seller can do is overprice their home. You will eventually sell it, but for much less than if you price it right from the start. Make sure you have an experienced, successful Realtor, and then LISTEN TO WHAT THEY SAY! The Realtor can help you with formulating an offer on the one you wish to purchase also.

Answer 4

Put the address in zillow.com and multiply the value shown by 1.15. That should be pretty close to the market value. I have used this site for many houses and find that a rough estimate of the value. You can also see comparable sales on the site in the area and apply the sale price per square foot to yours and that should give you also a good idea.

Answer 5

Oh do I have to say the oldest line in Real Estate? Location location location. Well it's true. The best way to know what your house is worth is what your neighbors' houses have sold for. You can get a good idea what things are selling for from multiple listing sites www.bairdandwarner.com (pretty sure that's the address) or remax or any of those have searches by address or location. Of course, condition of the property helps, but really it's mostly location (ugh said it again)

Answer 6

A realtor should be able to give you a list of comparable properties in the area with the same features and that should help you make a decision

Answer 7

Make an offer on what you thing it is worth and what you can afford. Is there any thing els you would pay more than you thought it was not worth it?

Forget what ever body els is say they just want a higher commission.

Also check out this web site.
http://www.breakingbubble.com/index.htm

Answer 8

Try zillow.com