I wish it would be as easy as using an established so called formula.... but there it goes not everything works with a formula, for example, what is the formula for finding the perfect wife or
husband for that matter. Any idea?????
So really the same goes for home, Realtors, who have done business and previewed a lot of homes in a certain area, have the expertise and access to comparable homes, so that they can take inventory of a certain homes size, rooms, floor plan, additional rooms and amenities, lot size, location etc. etc.
and compare those and the age of the home and architecture and quality of construction to similar homes. Since each hose is most of the time somewhat different, Agents will be able to make the
necessary adjustments in establishing the current market value, i.e. reasonable market friendly
asking price and the current potential negotiation % equal to potential sale price. The adjustments
will be value adjustments up or down depending what the home offers in addition or lacks.
An Appraiser will do pretty much the same, except that often they are not as familiar with a certain
style of home, or area, or they have not seen a lot of homes in that particular market place.....
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
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