What Is the Value of My Home?Expert Insight from Roy Dekelof Setschedule
A few years before the housing sector crashed in 2008, homeowners were a happy lot knowing that their assets were growing steadily. But after the bubble had burst, investors were filled with grief due to the losses suffered. As such, it’s always prudent to find out the value of your home so that you price it appropriately.
Capitalize on the experience of a real estate agent from Setschedule
Most real estate experts like Roy Dekel have gathered years of experience and they are well versed to answer questions like “what is the value of my home?” To do this, they rely on comparative market analysis which focuses on similar properties that have been sold in the last three months.
To get an accurateestimate, it’s advisable to use homes that are in the same location as yours and with a similar size and number of rooms. In addition, the number of bathrooms is also an important feature but if the property is in a rural setting, it would be better to have a good lot.
After finding a few homes with similar characteristics as your house, the real estate will check the exact price they were sold for. After that the agent from Setschedule will calculate the average figure which you can use as the benchmark for pricing your home.
Before you say “what’s the value of my home?” Consider the competition
In real estate business, sizing up your competitors is a very important step when setting the prices. Basically, you should look at other properties in the neighborhood and note the listed prices. To illustrate, if there’s a house in your neighborhood that is similar to yours and it's being sold for about $500,000; you will be required to do a lot of explaining why your home has a $600,000 price tag.
Always remain objective
For most homeowners, it’s quite easy to think your property has a higher value thanks to the personal attachment. Basically, it’s not an easy task trying to sum up several years of cherished memories created in your home with a simple number.
Its normal to feel dissatisfied when the quoted price doesn’t meet your expectations or when the price isn’t enough to cover all the work and time spent doing repairs. However, every time you ask “what is the value of my home”? You need to let emotion take the back seat otherwise it can be hard to get a buyer.
Giving your home the right price is quite important: Advice from Roy Dekel
If the price tag on your home is too high, chances are that it will be spending a long time on the market. No one wants this to happen because if a house remains unsold for more than one month, it suffers from stigma.
According to Roy Dekel of Setschedule, buyers will start asking several questions trying to figure why the house hasn’t found a new owner. And the moment they think to suspect something is amiss, you might be forced to make big price reductions.