Tip # 2
How much is my Home
worth? Research!
If you would like to educate yourself a little bit on
current prices, simply access any home searching website like Trulia or Zillow
and look at current home prices in your neighborhood with the same number of
rooms and property description. It will give you a better idea of what your
home is worth.
According to USAToday, “Best sites to determine your home’s
value”, is Trulia and Realtor.com.
Typically, once you hire a realtor they will be the ones
providing you with a CMA (Comparative Market Analysis) using the MLS (which
gives more exact and up-to-date figures), and you should have peace of mind
knowing that your realtor is answering all your questions. When a realtor is
providing you a price on the home, they are also taking into account their
experience, and current knowledge of the market. This is why it is necessary to
get an “expert’s opinion”.
I read on some websites that customers should hire “several”
realtors and see which one gives the best price on the home. I would definitely
NOT advice that. Let’s say another realtor says your home is worth $5000 more
than the price I gave. But you should ask WHY would he say that? And when your
own little research online using Trulia and Zillow and see comparable homes are
not the same price as your realtor provided, you know there is a problem.
A good realtor backs up all his numbers with proper reports.
And provides a price well fitted for the current state of the market (without
being too optimistic or too pessimistic on it).
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