What I Do for Buyers: Arriving at a Home's Market Value
I put great effort into preparing a Current Market Analysis for each of my clients to determine value of a property at any given time. The first important thing is to know the inventory level for the rest of the market, both past and present. However, just to look at the square footage and bedroom / bathroom count isn’t enough.
I have been inside ninety percent of the homes that have sold in our market. I’m able to accurately compare, floor plans, yards, architecture, amenities, neighborhoods, schools, adjacencies to shopping, and numerous other variables in order to arrive at an accurate value of any subject property.
Be careful when you are comparing one property to another that sold at a price higher than what the sellers were asking. You should not necessarily add on additional appreciation. Many times the buyers of a home that paid more than the sellers’ asking price may have paid future value to secure the property.
