Value of your property ?

People often wonder how I determine the value of a home.

Every property actually has four different values, and most homeowners confuse them:

Municipal value:
The number on the municipal valuation roll, used to calculate your rates. It’s updated only every few years and says very little about what a buyer would pay today.
Bank value:
The value a bank’s appraiser assigns when assessing the property as security for a home loan. It’s usually conservative because the bank is protecting its own risk.
Replacement value:
What it would cost to rebuild the house from scratch today. This is the figure your insurance should be based on — and it excludes the land. Many people are unknowingly under or over insured here. Also make sure you update your insurance regularly and obtain comparative quotes from other insurance companies. Your insurance company will not do that on your behalf.
Market value:
The only one that truly matters when you sell: what a willing buyer will pay a willing seller on a given day.

I start with comparable sales in the area. You have to understand what makes your home unique, who the real buyer is, and what that buyer is prepared to pay.

Firstly, a property that is priced correctly always sells faster. Three months for a home of this magnitude isn’t luck — it’s the result of a price that reflected true market value from day one.

Secondly, in my experience, a sole mandate achieves a higher selling price in roughly 80% of cases. The reason is simple: buyers compete for the property, instead of agents competing to be the first to sell.

Thirdly, the sole mandate is not the reason a property doesn’t sell. The choice of agent is the issue, not the sole mandate. An agent who promises the highest price just to secure the mandate is often the one who costs the owner dearly months later. Appoint an agent who you can trust, making sure the agent has your best interest at heart.

You are welcome to contact me for a free comparitive market analysis @ 0711576689