You Need to Know what your most Valueble Asset Is Worth
There are many reasons why you would want to know what your house is
worth.
You might be thinking of selling, and want to price your house for the market.
You might have received an offer from someone interested in purchasing your
house and want to know if it's a fair offer. You may telecommute to work, and
might decide to buy a similar home in a expensive part of the country.
Whatever the reason is, we would like to help.
Check Now!!!
To learn how much your home may be worth, please complete the Check Home Value Now signup form. We will then get a real estate professional
in your area to provide you with an assessment of value letting you know how
much your home may be worth in your market.
Elements of Value
There are four elements of value. For value to be present in a piece of
property, it needs to possess ALL four elements. They are:
Utiliy - the capability to satisfy a need or desire Scarcity - a limited supply of inventory available Demand - The desire to possess a commodity or make use of a service, combined
with the ability to purchase it. Transferability - the ability to transfer ownership of said commodity
Principles of Value
There are many principles that could determine the value of your home.
Substitution, supply and demand, progression, regression, and competition are
only a few.Tell me more about some of the valuation principles.
Dangers to Overpricing and Underpricing in the Marketplace
For sellers it is dangerous to either underprice or overprice a home they are
trying to sell. Both overpricing and underpricing a property could mean the
loss of thousands of dollars and valuable time.
The problem with underpricing a home is evident. Without knowing what your
home is worth, underpricing a home could mean selling it for much less than
market value, in some cases a loss of hundreds of thousands of
dollars.
The problem with overpricing a home is more subtle, but just as dicey. A home
priced considerably higher than appraisal value is likely to sit on the market
for a long time. This gives the illusion that something is wrong with the house.
Many real estate agents will avoid showing houses that have been on the market
considerably longer than others in the same category.
Another problem with overpriced homes is that banks may refused to loan money
to buyers wanting to purchase them. Usually a bank requires an appraisal of a
home before loaning the money for the mortgage. If the home does not appraise
for the loan ammount, the bank may put the breaks on the whole deal.
