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Specific Price versus "Value Range": What Best Determines a Home’s Value?
Today I wanted to address an email that I had sent out a few weeks ago inviting you to check out our Home Valuation website. This website allows you to view the estimated property value of your home. We had an overwhelming response to this news!
I did receive questions about the accuracy of the numbers from both buyers and sellers. Homes do not sell for a certain “set” price – they always sell in a “value” range, from low to high. Where a home ultimately sells within that range depends on the agent’s skills in marketing, presenting and preparing the home for sale. Other factors include the negotiations that occur between the listing agent and the agent representing the buyer, and also the pricing strategy that is employed to sell the home.
To test the accuracy of other Home Valuation sites, I used a home that we recently sold as a test subject. These websites were all over the place and tried to give me a specific price – not a value range. Regardless of what the computer says, it is critical to look at the home’s features and benefits to determine the value of the home.
If you have any questions in regards to buying or selling, please feel free to reach out to me.
Thanks and have a great day!