Comparable Home Prices - Pricing Real Estate

How Willing Buyers And Sellers Create Market Value

Here is a proverb used to define the value of real estate: Value is what a willing buyer will pay a willing seller. But before we explore this, let me ask how you would go about determining the value of a house?

Searching For Comparable Home Prices

• Do you browse through real estate magazines?
• Have you tried collecting open house flyers?
• Or filling your in-box with emails of new listings?

This brings us back to the proverb I already mentioned. Value is what a willing buyer will pay a willing seller. But I am going to take it a step further. In fact I say, "Value is what a willing buyer PAID a willing seller."

Realtors Understand Comparable Home Prices

The best way to get on the inside track to knowing true value is to find a real estate agent. Realtors have access to a database of properties sold in your area and similar to your home. So whether you are seeking to sell or buy, the services of a real estate professional will save you time and effort as well as money.

Keep in mind, before you decide to list your home, you should ask your Realtor to prepare a market comparison for you. The same goes for searching for a house to buy. Ask your real estate agent to provide comparable home prices. With your agent's assistance, you can then consider or make offers based on real time data instead of emotion.

Last but not least, never make or accept a quick offer based solely on excitement. Consult a Realtor and do your homework in advance.

Article No.142 by Kate Ford, real estate insider and author of Ask Kate. If you enjoyed this article, you will like Powerful Advantages Of Buying A Home Near Schools also.