How Much Is Your Atlanta Home Really Worth?
There are four main points we consider in our market valuation:
1. The market value of your home is the price a buyer is willing to pay for your property today. A buyer makes his decision based on today’s market, today’s competition, today’s financing, and today’s economic conditions. Remember, these factors do change from day-to-day
2. The market value of your home is based on a buyer’s perception of the condition of your property.
3. The market value of your home is based on the location of your home. (You knew this already…everybody knows the rule of “location, location, location”).
4. The market value of your home is based on a normal marketing time. Fire sales have lower-yielded market values than properly marketed sales.
REALITY OF MARKET VALUATION
Most of the variables in a market valuation are beyond your control.
The reality if market valuation is you may face a challenge in accepting a market valuation of your home because the majority of the variables are specific to comparable homes, in your neighborhood, that have recently sold. Market conditions, the motivation of competition, and the actual “value” of the home as perceived by the buyer are generally beyond the seller’s control.
Even if your home has all the latest whistles and bells and has a finished basement unlike any others on the street, the lowball sale that took place last month IS going to dramatically affect the market value of your home.
In the end, the only factors of market valuation a seller can control are the condition of the property, access to the property, and the asking price. Everything else is determined by the market.
Who Can Determine Market Value?
No one person can determine what the market will price a home. We can make predictions based on good information, analyze the competition, and review recent sales information for comparable properties.In the end, we are all subject to the marketplace as the sole “appraiser” of our homes and houses.
Sally English is an Atlanta real estate agent specializing in homes and neighborhoods convenient to Emory University. Call or text Sally English at 404-229-2995 to discuss a free CMA for your Atlanta home. Or use the link below: FREE CMA for Atlanta home