Wednesday, April 2, 2008

Buyers don't care what you paid for your home, really!

I read an article today where a real estate agent said a "great Realtor would consult an appraiser to get a real value for a house." While it is true that an appraiser will set a value that the lender will consider, I do not believe it necessary to have an appraisal to get a listing price/value.

A little Florida real estate agents give opinions of value and do not perform appraisals.

A competent, real estate agent with local market knowledge in your segment should be able to do this as well! Please notice that the term referred to above is value but I am speaking of list and selling price. Value as in the selling price. Your selected real estate agent will do the "comps." They will find homes that have sold recently and compare them to your property. They will look at age, condition, location, updating, enhancements (pool, spa, etc). They will consider your current market.

They will not consider what you paid for the home. What you paid is not an issue in looking at sales price/value! The market does not care what you paid for it! If the same house sold for "XXX", if your home is similar, it can't be higher unless there is a real difference. Besides, your home is only worth what a willing buyer is willing to pay.... and, unless it is a cash deal, what the lender says it is worth. So, ultimately you as the seller may influence or even dictate the "list price," but it is the market (buyer) who will set its "real price."

So back to the first paragraph.... Does a great real estate agent need an appraiser to set your probable selling price? No, as a Florida licensed real estate agent I am not an appraiser but I can give you a pretty good opinion of value in my market!

If you are looking to sell your Viera, Rockledge, Suntree or Cocoa Florida home, please give me a call. I would welcome a chance to talk with you about pricing and marketing your house.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Melbourne, Florida. Email me at .

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