Home Selling in New York>Question Details

Vera, Both Buyer and Seller in New York County, NY

How can I know my property value?

Asked by Vera, New York County, NY Tue Dec 18, 2012

I want to know my property value.Where can I get a trust answer?

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Answers

22
EdithJasser YourRealtor4Life’s answer
Well, if you want an insight in the value of your home in today's market, connect with an experienced local Realtor who will visit with you at your home, take inventory of your home, its updates and may be lack thereof and compare your home, size, style, location, amenities and upgrades to similar homes
currently on the market and those recently sold, and will present you with a detailed and adjusted
market home value evaluation. Once you have that the agent will also be able to give you an app.
idea of the final sale price and the net to seller, based on estimated closing costs.

You can also hire an appraiser, it just depends what your reason for wanting the information.
Just to know, to put your home on the market or decide if it is worth based on what you still owe to the lender. But it is a good idea to discuss all of it in detail with an experienced Realtor. If you need a recommendation let us know we gladly send them your way.

An appraiser will charge a fee up front !

The experienced Realtor, will provide the information initially free of charge in most cases,
with the mutual understanding that if and when you will decide to put your home on the market
that you will list your home with that particular Realtor who gave you so much good advice including
when listing your home, also with staging ideas and suggestions to prepare your home for showings, so that it shows its best to potential buyers, and on photos on the internet!

And yes at the very end your home truly will be worth what a ready and willing buyer, and an approved buyer is ready and willing to pay for your home. So prepare it well, so it shows its
best...

Good Luck
Good luck to you.

Hope this helps...

Most Sincerely yours,
Edith YourRealtor4Life and your Chicago and Northern Illinois
and RElocation Expert
Working always in the very BEST interest of her clients
at @Properties North Shore
Edith speaks French, German, Spanish & more
Get to know Edith and her Service her website is
http://tinyurl.com/YourRealtor4Life
EdithDoesItRight@yahoo.com
1 vote Thank Flag Link Tue Dec 18, 2012
At such times, it becomes wise to take the help of a property appraiser. Only they can tell you how much value your property holds and what is the potential risk or benefit if you sell it at a particular time.Visit at here http://www.rdcappraisals.com/
0 votes Thank Flag Link Fri Mar 22, 2013
Contact a local realtor, they can provide you a free competitive market analysis using comparable sales that is a great estimate of your property's value.
0 votes Thank Flag Link Tue Jan 1, 2013
if the house is in Brooklyn call me. I will give you a free estimate
0 votes Thank Flag Link Tue Jan 1, 2013
There are several sites you can visit that are able to provide comparable sales analysis for apartments similar to yours in your neighborhood. You should understand what is for sale had what had closed in your building and neighborhood. This will provide a foundation for establishing your property value. However, it takes an experienced broker who know the specific neighborhood and the buildings in the neighborhood to establish real value. The broker must see and evaluate the property and factor that into the raw data to establish a realistic and true value. Establishing a true price is critical sale.
0 votes Thank Flag Link Sat Dec 22, 2012
A local Realtor or trusted and licensed appraiser are the only people that can give you a customized and accurate property value for your home. Although there are many tools online that may point you in the right direction - there are too many variables for it to cover everything.

Good luck!
0 votes Thank Flag Link Sat Dec 22, 2012
to know property value there are so many sites available in the internet like this one http://www.rightmove.co.uk/house-value.html
Simply enter your property details above and we will provide they similar properties to help you compare prices.

SOurce(S):
http://www.internationaloddities.com/
0 votes Thank Flag Link Sat Dec 22, 2012
There are many websites who are providing free value estimation program. You just have to provide place where your property is situated and within small span of time you will find recent home prices of comparable properties. You can also hire property agent who will give you further information.
0 votes Thank Flag Link Thu Dec 20, 2012
Hi Vera -

A local real estate broker will be able to determine the value of your properly once they have viewed the home and compared it to the most recent sold comparable properties in your building and/or neighborhood. Most agents, including myself, would be happy to meet with you in your home and provide you with a complimentary market evaluation. Feel free to call me with any further questions or if you would liek to set up an appointment.

Jeff Nolan
VP, Associate Broker
The Corcoran Group
212.500.7022
0 votes Thank Flag Link Thu Dec 20, 2012
Hi Vera, there are couple ways to come up with a property value, one is by doing a comparable sales analyses that any qualified broker, who has access to all current and past listings can provide to you, either for a fee or if you are going to list your property for sale with them. These should include current, pending and closed sales in the building and in .5-mile radius for similar properties. I personally have years of experience in real estate underwriting for lenders and would be happy to do this work for you, as a broker. Another way is to have your property appraised by a professional appraiser (they usually charge from $300-$500). They will look at the condition of the property, location, and all other important factors that have to be considered, as well as look at comparable properties the most similar to yours. They will come up with a value conclusion that will give you an idea of what your property may be worth, although you should not look at it as an absolute number, because a different appraiser may come up with a different value, based on their own understanding of important factors and adjustments they make...However, any of these 2 options would be a good starting point

Elena Ravich
Rakita Realty
646 593 7207
0 votes Thank Flag Link Wed Dec 19, 2012
I know Scarlett had the best of intentions when she advised that you check out "appraisal" websites, but I would caution you that they can be VERY inaccurate. They draw info from public records and determine a "value" of the home from the paper facts. Without eyes (and a brain, and emotion), those sites can only do so much. One of my homes was listed on there at a price over $100k UNDER the true market value. Part of the problem there was that, even though the public records were correct, somehow this site only thought the home had 3 bedrooms instead of 4. That's a problem!

So...I would encourage you to use those sites, but DO NOT rely upon them. You can get a full-blown appraisal for under $500 and it could be well worth the money. Short of that, you might be able to get a Broker Price Opinion (BPO) or a Comparative Market Analysis (CMA) done by an agent for a lot less (oftern free if you list with them).

This is a BIG transaction you're dealing with, go cautiously and beware of "penny wise, pound foolish" ways to "save" money!! Best of luck with the sale of your home...Jim
0 votes Thank Flag Link Wed Dec 19, 2012
If you need a property appraisal there are some really great websites!
0 votes Thank Flag Link Wed Dec 19, 2012
Your best bet is to have an agent do a comparative market analysis to get the most accurate information.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
914.406.9023
0 votes Thank Flag Link Wed Dec 19, 2012
Hello Vera. You should consult a local Real Estate Agent who could assist you in determining the value of your home.

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.


Wishing you all the best,

De Vonte Williamson , LSA
Proudly Serving Long Island
Coldwell Banker Residential
(631)384-3695
http://cbmoves.com/DeVonte.Williamson
http://devontesellsny.wordpress.com/
http://www.facebook.com/ISellNY
DeVonte.Williamson@cbmoves.com
"I Stand Behind Getting You Results!"
0 votes Thank Flag Link Tue Dec 18, 2012
I would be happy to meet with you to provide a comprehensive hard bound copy of recent sales data in your building and the surrounding area. This will help us to determine a competitive price for your home in today's market. I would also be happy to tell you about our real estate consulting and listing service that begins with advice from interior design professionals who will assist with making sure your home is positioned to be attractive to a wide market, giving a greater potential for a higher sales price. Next we bring professional photographers to photograph the property to give us a base for developing the best online and print marketing campaign possible.

For more info. contact:

Adam Hignite
Vice President
Keller WIlliams | NYC
ahignite@kwnyc.com
917-549-8675
0 votes Thank Flag Link Tue Dec 18, 2012
There is only ONE source from which to determine the value of your property. That source is what a willing and able buyer will pay your for your property. Until you sell it, everything is an analysis of the surrounding data.
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There are other reasons to determine value that must be revealed to gain any relevance. The PURPOSE WILL change the result. Who is requesting will change the result. For instance, is the purpose for:
A partner buyout
Refinance
2nd mortgage
Heloc
Security
Collateral
Resale
Insurance
-
You can get data/numbers from Zillow.
You can get data/numbers from Trulia
You can get data/numbers from the Tax assessors website.
You can even go to the Bank of America Website and get a set of numbers. All will have some number with a label of 'value, market, price, evaluation, market value, just market value, and a few honest ones will blatantly say, "Wild a$$ Guess!"
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Soon you will realize data without judgement is of no value.
What you need is a expert who can interpret the data as it pertains to your goals and objectives.
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For instance, a real estate professional will use three independent methods to reach a comparable VALUE for your home. This 'value' will be juxtaposed with the activity of REAL buyers in the local market. This will result in identifying the most profitable value position for your home and therefore the opportunity for the highest price.
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Depending on your situation, your real estate professional will properly prepare you for the next most common mistake in determining value.....the lenders appraisal! Again, the pro representing you will position your property appropriately to anticipate this predictable ambush.
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In the end, only when you separate a buyer from their money, will the real value of your property be known. Meanwhile, a consultation with a pro who is involved and the sale and purchase of dozens of homes a year can prove beneficial.

Best of success in the sale of your home.
0 votes Thank Flag Link Tue Dec 18, 2012
HI Vera, best and easiest way is to contact a real estate agent or broker to come to your property and conduct a market analysis, usually done for free as a service. You can also contact a licensed appraiser (this is something that a lender would do in case you sell the property and the prospective buyer is planning to finance the purchase). Yuo may be able to get a quick and less formal idea of your property value by taking a look at sales in the area of similar properties (for instance, if it is a unit in an apartment building, perhaps a similar unit has sold in the recent past - that will give you a general benchmark of value).
Best of luck,
Charlie Summers
0 votes Thank Flag Link Tue Dec 18, 2012
Hello Vera, Private appraisal or better yet an evaluation by a Realtor®(CMA) for free!
0 votes Thank Flag Link Tue Dec 18, 2012
I would agree with Anna, any one of those ways is a great way. Or contact a few brokers to see what they believe it is worth.

Nick A. Agostinelli
Licensed Real Estate Salesperson

office 212.729.5712 EXT. 144
fax 212.922.0015
ELEGRAN
Real Estate & Development
http://www.elegran.com
NAgostinelli@Elegran.com
0 votes Thank Flag Link Tue Dec 18, 2012
Contact a trusted realtor and ask them to do a comparative market analysis to see what sold recently and estimate your property value
0 votes Thank Flag Link Tue Dec 18, 2012
LISTING PRICE
Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.
Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called “chasing the curve”) and Buyers will be asking the question; “What’s wrong with that house?” and “Why has it been on the Market so long?”
Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; “Aren’t you obligated to sell at this price if someone offers it?” The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)
Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.
Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.
0 votes Thank Flag Link Tue Dec 18, 2012
Contact and invite few local agents from different realty companies and ask for a cms, comparative market analysis; review the data, ask opinions and go from there; or consider hiring a professional appraiser....
0 votes Thank Flag Link Tue Dec 18, 2012
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