Property Values Matters only When You Sell

by Mike Yeo on September 28, 2013

Your Frisco TX Property Values Matters only When You Sell

How much do you think your home is worth? That is a very important question that most people ask when they know I am a Realtor. That is a loaded question! Why? Because your home is worth what buyers are willing to pay. When you are planning to sell your house, your Realtor will do a comparison market value to determine what you should list your house for. That does not mean that your house is worth what it is. It is simply a start. You may think that your house is worth $X dollars but the comps may show lower or higher.

Your property value will be determine by the market activities. Similar to the experiences on Wall Street, the price is based on the principal of supply and demand. If you have too many supplies of homes out there, your price maybe lower than when there is a shortage of housing supply. Simple economics? Well, yes and no. It is also determine by other factor such as the location, what is the feature of the house, number of foreclosures around.

Bottom line is that your house is worth what it is worth when there is a willing buyer at a price agreed upon. What about the value that is shown on some of the real estate websites? Are they accurate? Well, I would still advise to get with a local Realtor to get an accurate comps.

If you are thinking about selling your house, you should find an experienced Realtor that KNOWS/LIVE/ PLAY in the city.

Call us at (214)-783-2210 or email us at info@316realestate.com if you are thinking about selling your house.

 

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