If you want to get a good idea as to how much your property is worth you should have several real estate agents come into your home and take a look at it to give you an opinion of market value. This is the only way to get a true idea as to your properties worth. Beauty is in the eyes of the beholder and what you will find, as is also the case with buyers when they look at a property, is that the opinion of value will vary.
There are many factors that come into play when trying to calculate the approximate value of a property. These factors include location (which we know), lot size, building size, amenities and the overall condition of the property. Because of this we really need to see the house in order to give you something that is more than just a guess. The same goes for buyers... no buyer is going to give an offer without first seeing the property.
When an agent comes to look at your home, he or she will also printout and give you similar homes that have sold as of late and a list of properties similar to yours that are currently for sale. This information gives you a good understanding of what the buyers are seeing and where your property fits into current market conditions.
In the end a house is worth what a buyer is willing to pay and there is no exact way to calculate or predetermine the exact price you will achieve. You simply have to do the research and do the best that you can. I would love the opportunity to find out more about your property and maybe even meet with you to see it. I can answer any question you have and I can give you many insights into the market and how to make sure you get the highest price possible when and if you do decide to sell your home.
Feel free to contact me direct anytime. Good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783