How not to value your ME home, to arrive at it's true value is a science.The figure printed out on your house insurance replacement policy is not the real value folks.
Neither is what your barber or hairdresser says to expect the check to read that's slides across the table at the real estate closing.
Here are some other flawed approaches to home valuation, arriving at real estate fair market value.
As a real estate agent, broker, REALTOR, the talk during the listing at the owner's kitchen table is often along these lines.
"Well, I have (blank) amount sunk in to this place so the value is....." Or "I have twelve kids and if all of them net $25,000 a piece, then the home is worth...."
The best nothing to do with the actual ME home value estimation logic.
Is when the real estate seller says simple "I gotta have this figure, somebody will come along with a wheel barrow of money and pay the price I want, expect." Not if it is way way out of the real world market value Mr Seller.
The market decides what the value of the real estate, the home, anything is worth TODAY. If a ME real estate buyer says matter of factly that the home is only worth this much though, it is sometimes not the case. That figure is all the house buyer can afford, not what the actual valuation of the home is. But if fairly, realistically priced and marketed full throttle with far reaching exposure, anything will sell in a reasonable period of time.
Pricing, marketing are the real two reasons property does or does not sell when you boil it all down to the basics.
Here and now. Ignore the market and it's like winking at a girl in the dark. Don't get your hopes up. The results are poor.
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