Monday, November 26, 2012
Why is my house not worth what I say it is worth?
Sometimes sellers have the same response, well much less dramatic, when they are ready to place their home on the market.
Their question is phrased more like "Why is my house not worth what I say it is worth?"
Put in its most appropriate form they are just asking me "What is my house REALLY worth?"
And, as a real estate broker associate who sells homes in Brevard County, Florida, my job is to answer their question in an easily understood, non-emotional manner.
So here it goes...
The short answer is it is only worth what someone is willing to pay for it.
Sure there are qualities that influence worth like location, size, general condition and any special features (like a pool, gated community, etc.) but in the end your home is only worth what a stranger under no unusual influences or pressure is willing to pay (an arm’s length transaction).
Have a question about buying or selling a house or condo in Brevard County, Florida? Send me an email here!