My house is located where some of the sales are lower than I think my house should be compared to.It also is an unusual house that i feel shouldnt be

Asked by Rochelledk, Farmington, CT Fri Jul 12, 2013

grouped with the others as far as the asking price. These are called comprabiles.. I dont think they should be used to determine what my house is worth,What do you think

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Josie Rodrig…, Agent, Carmel, IN
Sat Jul 13, 2013
There may be instances instances where a home has unique qualities that may bring up the price however they should be distinct and of value to the property.

If you are thinking of pricing your home higher than others in the area consider how long do you want the property to sit rather than sell.

It comes down to what buyers are willing to pay for the property. Overpricing it too much may not have good results as the property will sit on the market.

I hope this helps.

Josie Rodrigues
North Country Sotheby's International Realty
2 Croton Point Avenue
Croton-on-Hudson, NY 10520
0 votes
Annette Law…, Agent, Palm Harbor, FL
Sat Jul 13, 2013
Rochelle, you clearly see the situation.
Very often, it becomes clear you can not get a proper evaluation of your home, especailly when the evaluation is ordered by a bank or if the appriaser is compelled to conform to a lenders predermined defination of a comparable.
The value of your home is and will ALWAYS be, what a wiilling and able buyer and a willing seller agreee upon. That negotiation CAN be influenced by bringing the specail attributes to the front, if they and tangible value or quality of life value. Be aware, a buyer priorites may override a lack of tangible assets. Those best able to assess this are the folks who are engaged with active buyers and know what these buyers value and the folks who work helping homeo\wners sell their homes. These folks, real estate professionals, know what can and can not be leveraged, IN YOUR MARKET.
If you are to make a real estate decisioin in the near future, you may find it benefical to have a Farmington CT, professional assess your homes potential.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Plam Harbor, FL
0 votes
Bill Eckler, Agent, Venice, FL
Sat Jul 13, 2013
Somewhere in there....there's likely a question but it's not clear what it is.

If your question is, "what is the value of my home?" your solution is very simple....arrange for a professional appraisal. Paying several hundred dollars will provide you with a truly professional evaluation of your home, on which you can base a realistic asking price.

Good luck,

0 votes
Terry Bell, Agent, Santa Rosa, CA
Sat Jul 13, 2013
It's the old mantra of realtors, location, location. You may have totally remodeled your home beyond what neighboring homes are like, however, buyers also consider neighborhoods as part of the value of their homes, and that's why appraisers are going to use neighborhood homes to compare to yours. They will consider your remodeling as added value.
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Elisa Dewees, Agent, Cherry Hill, NJ
Fri Jul 12, 2013
I too live in an unusual home in a typical neighborhood in my area. An appraiser has to use local homes to determine the value. I could only get what similar homes like mine sell for unless a Buyer pays cash or has enough money down and does not care about the comparables. That does happen but is rare.
Location, Condition, square footage, number of bedrooms and baths, garage spaces, basement present and if is is finished or not...these are the key factors in determining fair market value.

Having an unusual home, however, sometimes makes your home stand out and it may sell faster than a cookie cutter home.
0 votes
Linda Olsen, Agent, Carmel, NY
Fri Jul 12, 2013
An appraiser will use homes that are similar in size and bedroom count within a mile radius when they appraise it for who ever purchases it. It is appropriate for your agent to use homes within that radius first then branch out further if necessary. Your neighborhood and surrounding homes do greatly influence your home price, especially if they are run down or poorly maintained.
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