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La Mirada Realtor
"La Mirada Realtor for La Mirada homes"
- 2 Answers
- 1 Listing
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Experience:
Realtor for Century 21 Westworld
January 1980—present
Real estate broker with 32 years experience, BA in Marketing and Law Degree for buying…
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Real estate broker with 32 years experience, BA in Marketing and Law Degree for buying…
Specialties:
Single family residences, condos and townhomes. La Mirada homes.
About:
Real estate broker with 32 year’s experience, BA in Marketing and Law Degree for buying and selling La Mirada homes, condos and townhomes.
La Mirada Realtor answered:
Amy,
The best answer is consult with a seasoned Realtor- there is no magic number or percentage. A home's value is what a willing buyer will pay and a willing seller will take (and a willing bank will lend if financing is involved!). What the seller paid or owes is of no consequence if there's equity, and it's almost always a case-by-case basis. By way of example, let's assume all the comparable homes on a street sell for $200,000. If a motivated seller prices his at $190,000, he's already discounted the value by 5% and likely won't reduce from there. Conversely, another seller could price his at $210,000, so a 5% reduction would put you back to about market value- a local, seasoned Realtor can help you separate the wheat from the chaff.
The best answer is consult with a seasoned Realtor- there is no magic number or percentage. A home's value is what a willing buyer will pay and a willing seller will take (and a willing bank will lend if financing is involved!). What the seller paid or owes is of no consequence if there's equity, and it's almost always a case-by-case basis. By way of example, let's assume all the comparable homes on a street sell for $200,000. If a motivated seller prices his at $190,000, he's already discounted the value by 5% and likely won't reduce from there. Conversely, another seller could price his at $210,000, so a 5% reduction would put you back to about market value- a local, seasoned Realtor can help you separate the wheat from the chaff.
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