Knowing How Much the Home’s Worth
By Sheila Atienza
Determining the value of the property before doing any business of either buying or selling is a must.
A home seller seeking the help of a real estate agent usually is presented with a market evaluation. It is about looking at the properties that are currently on the market or have been sold in the last few months (three to six months on average) or depending on the market area.
A seller needs to understand this aspect in order to have a better idea how much a given market will likely respond to the property price. How high could a seller reasonably put the price on the subject home? How long will it take to sell the home given the price aspect?
On the other hand, a buyer looking into purchasing a home in a particular market should know whether a particular property is being sold at the right price. A buyer would have a better picture through a comparative market analysis or CMA.
Then and only then you could be comfortable with giving it a go as a buyer or as a seller.
There may be other factors affecting the purchase and sale of a home. Some are dependent on the personal circumstance of the party concerned.
There are sellers who may need to adjust the price because they may have found a home in which they can move as a new homeowner. Others simply need to lower the price because they would like to have immediate access to the home equity instead of doing some changes in their mortgage like refinancing or applying for a secured line of credit.
Copyright 2010 All Rights Reserved by Sheila Atienza
------- Sheila Atienza is the author of the book: “How to Prepare to Own a Home in Canada: Recession-proof Lifestyle for Immigrants and First-time Buyers” and “Canadian Home Financing Simplified: How to Qualify as a Real Estate Buyer”.
She is a Real Estate Professional based in Richmond, British Columbia, who helps her clients from pre-qualification, mortgage pre-approval, finding a home, to negotiation and closing the deal. In addition, she provides a free market evaluation or comparative market analysis for home sellers. She is dually licensed in British Columbia as REALTOR and Mortgage Broker.
Visit
http://sheilaatienza.com and
http://iclickproperty.com to learn more information on Sheila Atienza’s services in real estate and mortgage, published books and web sites.
Disclaimer: This communication is not intended to solicit clients/properties already listed for sale or to cause/induce breach of an existing agency agreement.
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