with upgrades and additions to home how do i get a accuate price for my home?

Asked by proactive, Monroe, NY Tue Feb 12, 2013

This question was asked from http://www.trulia.com/homes/New_York/Monroe/sold/22012584-14…

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proactive, Home Buyer, Monroe, NY
Thu Feb 14, 2013
Thank you all for the advice. An educated consumer is anyone's best customer. (Appraiser or realestate agent) We are thinking of selling but don't want to wast our time or anyone else time by having an un-realistic price before we make a big decision like this.
0 votes
Jacques Ambr…, Agent, Forest Hills, NY
Tue Feb 12, 2013
Having done this for over 30 years, I can say that if you choose the right Real Estate agent to assist you in pricing, you will have the best chance at successfully selling and pricing your home. Appraisers are limited in their reults because they are limited in their use of comparables, as well as dollar values placed on renovations.

Real Estate professionals know the public, and therefore specialize in marketing your home. As the previous answer suggests, the bank will use an appraiser when the time comes to get a mortgage, but if the right broker is handling it, then he will know how to make it work.
0 votes
Thank you all for the advice. An educated consumer is anyone's best customer. (Appraiser or realestate agent) We are thinking of selling but don't want to wast our time or anyone else time by having an un-realistic price before we make a big decision like this.
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proactive, Home Buyer in Monroe, NY
Flag Thu Feb 14, 2013
Payment Plan…, Other Pro, New York, NY
Tue Feb 12, 2013
Hello Proactive, (and we know this is NOT your name, LOL)

During these tough and uncertain times, the best approach to pricing [any] home is to do so from a [bank's] perspective.

WHAT IS PRICING A HOME FROM A BANK'S PERSPECTIVE?

To price a home for banks perspective means: setting yourself up to succeed! It's that clear!

The best way to set yourself up to succeed is by employing the services of an [actual] appraiser.

Sellers who are serious about selling their property in the least amount of time, for the best and highest price available, use the services of an appraiser. Although it may require an initial investment of, say, a couple of hundred dollars, this small investment will maximize sales profitability and will minimize the time said property remains for sale on the market.

Using an appraiser to arrive at a realistic listing price based on current sales and/or any capital or home improvements you may have made to your property, will allow you to price your property from "a bank's perspective."

WHY DOES THIS APPROACH MAKE THE MOST SENSE?

This approach seems to make the most sense for obvious reasons: any other price opinion, whether it be from a real estate professional, an investor or yourself, may or may not be based on accurate information, and may be [logically] motivated by a false premise; anxiety, haste, inexperience, over zeal on the part of anyone involved in the process.

Naturally, employing the services of a real estate appraiser, just as a bank will (when lending monies to purchase your property), will allow you to price your property at the most advantageous price; allowing you to capitalize on precious market-time and buyer-interests, thus reducing the risk of a purchase-deal falling apart, due to unrealistic pricing and expectations.

NOW YOU KNOW, AND KNOWING IS HALF THE BATTLE.

Best wishes,
Payment-Plan Brokerâ„¢ Team
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Mario Delrio, Agent, Clarkstown, NY
Tue Feb 12, 2013
Anna is right. You can have a real estate salesperson do a comparative market analysis or have them do a price trend analysis. It will help determine your homes fair market value. You can also have a professional appraiser come in and they will tell you what your house is worth, but that number they give you isn’t necessarily what your house would sell for. That number all depends on your local real estate market. If you are thinking of selling, being positioned properly is key. The last thing you want to do is chase the market.
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Paddy Pizappi, Agent, Pine Bush, NY
Tue Feb 12, 2013
You will need to have a Real Estate Agent to give you a current market analysis based on comparable homes that have sold in your area or alternately you can pay for an appraisal by a real estate appraiser. The value of your home is based not on what you paid for it plus any upgrades you have done but on the amount a buyer would be willing to pay for the property in today's market.. Your agent should provide you with a realistic price that you could expect to list and then sell the house at. I would be happy to come in to provide you with a market analysis and marketing plan.
0 votes
Tammy Benkwi…, Agent, Somers, NY
Tue Feb 12, 2013
Yes, it will require a visit from someone. Either an agent or an appraiser.

Why do you want to know? If you want to sell, then call a local agent or two. But don't hire one based on the value they attach to your property. Listen to the marketin plans and go from there.

Good luck!
0 votes
Anna M Brocco, Agent, Williston Park, NY
Tue Feb 12, 2013
Review comps with your agent, recently sold similar properties in the immediate, or, hire a professional appraiser....
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