Have you ever asked yourself “What’s my home worth”? The simple answer to the question is that your home is worth what a well informed buyer is willing to pay. Short of listing a home for sale, there is no definitive method of establishing value as the market is the only true indicator of actual value.
The market (buyers) – nothing else, determines what your home is worth
The real estate business is one without many “set” parameters, the very nature of real estate makes it very difficult. No two parcels are the same, no two homes are the same and each sale circumstance is different than the next. Owners have different mortgages, homes are maintained in different ways, conditions and upgrades will differ. Add to the mix the geographic markets across the country and how real estate business is conducted; all of these preclude any real continuity in this business. Toss in the largest variables of all as cherries on top – buyers and sellers. That said, there are standard guidelines that buyers, sellers and owners would benefit from understanding. For the most part, these are guidelines followed by real estate professionals when handling transactions and appraisals.
- Estimating value – appraisals, agents or do it yourself?
- Calculating square footage – perhaps the single most debated thing in the real estate business
- What room is that? – is it a bedroom or den?
- Price per square foot – why it’s not reliable for estimating value
- SMART Data Analysis – the most valuable HMT asset
- Real Valuator – Great for area or individual property detail
- Altos Research – updated weekly, another valuable HMT tool
- How to Challenge an Appraisal – think and act like an appraiser
- Atlanta Appraisals – appraisals of any home at any price point
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