Home Selling in Hebron>Question Details

cindy, Home Seller in Hebron, KY

How can find out what my home is worth in this market?

Asked by cindy, Hebron, KY Fri Feb 13, 2009

My home was on the market for 10 months and We kept dropping the price and it still didnt sell. We live in Hebron Ky

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6
Cindy,

We agree with Candy. The most reliable home value assessment will come from an appraisal. It will cost you a couple hundred dollars but it will be considered accurate.

Good luck
2 votes Thank Flag Link Fri Feb 13, 2009
Hi Cindy:

I completely understand your issues with dropping the price and no results ... devastating and depressing, to say the least. I agree with every answer you have received. Obtaining a Comparable Market Analysis is essential and, if you can afford it, an appraisal would be very helpful as well. Once you come up with a pricing strategy, then you can decide whether it is wise for you to sell at this time. However, I am a FIRM believer that, once a price is established, you DO NOT have to continue dropping that price. I have a different way of thinking than most and I have begun putting this "backward" thinking into forward to achieve results. Once I explain to my clients how this works, it's like the light comes on. You can sell your home for more than you thought. I live close to your area (in Union) and would be happy to meet and explain how my system works. If your home is listed with another realtor now, you would need to wait for the listing to expire before I can actually meet with you. Feel free to contact me at my email address (bjschenck911@aol.com) if you have any questions and when you're ready to sell. Don't give up!
1 vote Thank Flag Link Wed Feb 25, 2009
Hi Cindy,

Both previous answers are good. But it depends on why you want the information. An appraiser working for a bank will base the price on past closed sales and in a declining market that may represent a value that is not what you can sell for. However, a top local realtor will have an up to the minute pulse of what is currently selling or not selling. They will also have first hand knowledge of the condition of the properties in your market area. They will do a complementary market study comparing properties for you.
1 vote Thank Flag Link Fri Feb 13, 2009
Hey Cindy,

It will depend on which value you are looking for:

For insurance purposes, get an appraisal. That will be your highest value.

For tax purposes, go to Boone Co. tax records and look up your property. This will usually be your lowest value.

For a sale, contact a REALTOR. I will be honored to provided you with an estimate of how much you will net from a sale in this current market.

Thanks,

Gene Whittle
1 vote Thank Flag Link Fri Feb 13, 2009
Hi Cindy,
The best way to find out what your home is worth is to pay for a residential appraisal.

That is a bit expensive for most people and if the goal is to find out what your home would sell for in todays market then it may be best to contact a realtor. Realtors have access to information on sold properties, but more than that, they have knowledge of the condition a property was in when it sold, what applicances and other concessions the seller may have had to make to get the house sold, etc.

Be upfront with the realtor you choose to do the market analysis for you. Tell the agent if you are looking for a value in order to decide if you can sell, or if you are just wanting to know so you can sell it yourself, for example. A real estate agent may be willing to do a quick market analysis for you even if you are a possible FSBO (for sale by owner) , hoping that if you are not successful you will call back to list.

If you plan to list your home, getting several realtor opinions will be a good way to get to know several agents. Then, when the time comes to put your home on the market you may already have someone who you feel good about, to handle the transaction for you.
Web Reference: http://www.candybarnes.net
1 vote Thank Flag Link Fri Feb 13, 2009
Just for fun, give this a try .... http://www.ofheo.gov/calculator/
It comes from this Gov. site which has great information .......http://www.fhfa.gov/

Good luck, Dunes
1 vote Thank Flag Link Fri Feb 13, 2009
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