Knowing The Price Value Of Your Home

If you’re thinking of selling your house, the first question that probably pops in your head is how much the entire house costs. In other words, you try to estimate it. Though most real estate books will encourage you to hire an appraiser, I personally don’t encourage it. Appraisers are good at telling you how much the entire house costs but not house’s market value. Instead, I suggest prospect house sellers to use three sure and possible ways to have your house estimated.

                The first most logical thing to do before hiring professional help is to look at the other houses in your neighborhood and compare it to yours. Estimate by sight, as what is known. This means basing on the universal price in your area and start from there. The house structure, the lot area, and the community it is into and whatever that surrounds your property may affect the entire price. Problem arises however when there are no comparable properties around!

                Much to the disappointment of some house sellers, the value of a house depletes when the neighboring properties aren’t that “competitive” as the house in question. The house, no matter how beautifully it was created, can be viewed as over-improved and can cause a lower value than expected.

Though this seems to be every seller’s nightmare, the prospect seller must resort to the second most valuable key: asking the sale prices of other properties and the prices achieved for the recent sales. This means inquiring the initial price of some properties and how much that this specific property were bought. Did the buyer ask for a lower price? Why and why not? Was the buyer reluctant to be on such transactions? Why and why not?

By asking these questions, you would have a general preview of how much you’re going to price your house and narrow it down to specific prospect buyers.

But if you’re the kind who wants to have specific and logical presentations, you could ask some local realtors to visit your property down and give an estimate. Get their opinions and establish a general consensus of how much your house is going to sell.