What’s your home worth? A home is worth what a well informed buyer is willing to pay at any given time. This is a FLUID number. There is no definitive method of establishing value as the market is the only true indicator of actual value.
Homes are not cars, not stocks and bonds and unlike most any commodity that is bought and sold. It can be accurately said that no two homes are alike – and for that reason, estimating value can be difficult. Toss in economic conditions with buyer and seller motivations and the challenges are clear.
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.
- Calculating Square Footage – perhaps the single most debated thing in the real estate business
- How an Appraiser Analyzes Data – much deeper and thorough than agents
- What Room is That? – is it a bedroom or den?
- Price per Square Foot – why it’s not reliable for estimating value
- How Do You Challenge an Appraisal – think and act like an appraiser
Most every one has heard of a “Zestimate” and almost everyone agrees – including Zillow – that their opinions are broad based. Perfect? No for the above reasons, but at least a broad starting point for better or worse. However, we can use our resources and experience to rather quickly narrow down a most likely sale price range and narrow it further with a walk through.
Send us a quick email with your best contact info, we’ll touch base.