How Your Home Will be Valued
At Sunil Sethi Real Estate, our experienced agents have become true experts on the local real estate market. We’re dedicated to doing whatever it takes to help you achieve your property goals. As part of our valuation process, we will ask your goal in selling or buying, and share with you what recent sales indicate it will sell for. We'll also share what an appraiser would consider when appraising.
How Each Party Values Property
Based on a recent sale but with adjustments for condition, location and size.
Using our Data Driven Approach we've learned to value property combining statistics and heuristics from data available in the MLS and county records. Our pricing recommendation is meant to attract enough buyers to create a bidding war. If you price too high and no one will show up at the open house, and if you too low and too many people show up.
Based on closed comps and their experience on bidding on other properties and losing out on them.
Appraisers value property based on historic data from MLS and County records. In a rising market, appraisals often come in less than the purchase price.
Appraisal Value vs. Realtor's Opinion of Value
The Appraiser's value of the property is based on historic data. REALTORs value property based on current trends.
If you've decided to sell, the biggest mistake you can make is pricing a home based on what you want vs. what will draw in buyers and make it sell. Call me if you'd like an honest opinion on the value of your home. Sellers and Buyers should not rely on an Automated Valuation Value, as a computer does not notice the physical variances or location desirability or unique aspects between properties.
I see too many clients select an agent who'll tell them it'll sell for a price higher than the market trend, simply because the agent has agreed to sell it for the price the client has in mind. This can only end with future price reductions and a longer selling time. Instead, select an agent that presents the data to show what a home like yours is currently selling for and what it can realistically sell for. You'll save money, time and stress by selling your home faster.