What is your home worth???
That's the question we buyers' reps hear all of the time. It's not as easy as it used to be-there are many things to take into consideration. There are still unrealistic price expections out there for both the buyer and the seller. Many short sales and bank repo's in the area make pricing tough right now. To find out what your home is worth you would want a CMA-Comparative Market Analysis. Most qualified real estate agents can do that. We take the solds within the past 6 months to a year in that particular area-modify it to the square footage, updates, extra's, etc. So when an agent tells you your home should be listed between x and x that doesn't mean it will absolutely appraise for that amount. If there has been short sales and/or foreclosures in the area that will effect your homes' value.
If your home is going to be involved in a short sale then the lending institition will want a BPO-Broker Price Opinion. BPO's are also being done now for government programs aimed at helping homeowners avoid foreclosure.
For more information on pricing your home contact me.
Posted on Mon, November 7, 2011
by Pam McCutcheon