How much is your real estate? Your house, condominium unit, townhome, income property-worth in this market?
If a number immediately popped into your head when you read this question, I have a few more questions for you:
How did you arrive at that value-detailed research, neighborhood gossip, property tax market assessment or a comparative market evaluation from your local real estate professional?
Why do you think real estate value for a specific property can be represented by one number and not a range of values based on the variety of value factors and prospective buyers for your property?
How important is it for you to know the value of what is probably your principal asset and, therefore, to understand your full real estate purchasing power in this market?
What are the consequences of being wrong about the value you're so sure of? Although there is no set definition of what a market evaluation should include, there are basic ingredients that can be useful in evaluating your position:
Solds: A property is worth exactly what a buyer is ready to pay for it. Analyzing actual solds for your location and for properties similar to yours in surrounding neighborhoods will provide solid ground for establishing value.
Expireds: These are listings which terminated at the end of the usual thirty- to ninety-day period without a sale. Expireds are typically considered to be over-priced for the market, based on the condition of the property and current buyer patterns. These listings can also represent insight into marketing strategies to avoid or to adopt in your area.
Currents: If your property were listed, how would it compare with the other houses or condominiums that buyers shopping that location or that price range would be shown? It's buyers' needs, wants and what's "in," not sellers' costs, that determine value.
To find out the value of your Maryland Home visit www.myMarylandHomeValue.com or contact me direct to receive a FREE, NO OBLIGATION consultation.
I am Dedicated to Providing Quality Customer Service and Delivering Results!
Todd Rettkowski, P.A., CNHS, RCC, CDPE
Certified New Home Specialist
Residential Construction Certified
Certified Distressed Property Expert
Execuhome Realty
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www.myMarylandRealEstate.net
**Please note: This is not a home appraisal. This is a comparative market analysis done by a real estate professional free of charge to help you determine a range of value for your.
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