HOW MUCH IS MY HOUSE WORTH?
If you’re selling your home, you’re probably wondering: “How much is my home worth?”
The market value of a property is the amount a buyer is willing to pay and not the amount placed on the property by the seller. Supply and demand determine the price. So the first and most important step is to find the right pricing for your property to avoid a loss of value because of the length of time it sits on the market. This may hurt depending on the expectations or the initial price of the property when bought. But it will hurt even more if you need to sell your property for less value from it sitting active on the market from being priced too high – a property that sits on the market too long is less attractive to potential buyers.
A property sitting on the market too long gives the impression something is wrong with it. No buyer wants to purchase a property that nobody is interested in!
The opposite of this is bidding war – what every body likes to have – might be a good deal and so I’d like to have it too! Which do you this is better for the seller?
DON’T MAKE THIS MISTAKE!
Don’t make the mistake of taking the price you paid for your home years ago and adding in all the investments you did to determine a selling price of your home. Despite any improvements you made, how much your house is worth may increase or even decrease!
Instead you should:
Investigate the recent sales on the market in your neighborhood. Compare your property with similar sold properties in the last 6 Month. Compare age, square footage, lot size, numbers of bedrooms and bathrooms and other additional features like a pool or numbers of parking spaces. Be realistic here. A renovation of your property 10 years ago has no value anymore. Your furniture might be exclusive but the buyer will most likely not value it. Look what is on the market for sale at this moment – who are your competitors? Do you know the owners? Do they need to sell fast or not? Are they realistic or overpriced compared to what was sold? Do your homework and give your home a realistic market price to avoid losing money!
Beware! You should only determine the market value of your home from trusted and reliable sources. Take statements from your neighbors regarding the price they obtained for their property with a grain of salt and be wary of some online portals as they use general information and machine learning to give estimates that can be wildly inaccurate.
Commissioning a local Naples Realtor with solid market experience is the sure fire way of finding out how much your property can sell for and will keep you form losing time and therefore, money. Contact Us and we’d be happy to help you find out the value of your home in Naples.