Thursday, January 10, 2008

Comparable Home Value Changes At The Speed Of Light!

By Dave Conklin

People who have homes that they are thinking of selling have come to me for answers about their comparable home value for a long time now. I have found during that time that they often will ask the same questions. Quite frankly, I am writing this article to assist others who may be facing the same dilemma.

First, please understand that while I am sure that you love your home, it probably isn't the nicest on in your area. A common mistake that home owners make is assuming that their house is the greatest. We are all proud of what we own, especially those things that we take care of so much. But the bottom line is we have a really hard time looking at our property from "outside the box".

In addition, home values go up and down constantly with the flow of a few factors that all take place within and area extremely close to your home. * One: Homes coming on the market and homes going off the market. * Two: The available inventory that buyers have to choose from. * Much, much more! It is important that a professional help you with determining these factors and setting your expectations up properly so that you don't become disappointed.

Third, if you're looking to increase your comparable home value, make sure you stop and think logically about it. Painting is a great idea, because it's cheap and can add a dramatic effect. However, I have seen people pick out lime green paint to put in their kitchen because they liked it. When you do something like that, though, you are automatically decreasing the value of your property. Keep it neutral.

Smells of urine, sweat smoke, and other gross things tend to glue themselves to carpet. This should be one of the first things to consider when you're looking to increase your comparable home value. This is because of the inexpensive yet dramatic effect that carpet can have on a home, along with paint. Be sure that you ask someone who won't lie to you to come to your home and confirm that it smells good. You won't smell your own home because you live in it.

It's not only inside where you can create an amazing improvement in you homes comparable value. Outside one of the best things you can do is to power wash and then re stain your deck. If it's been more than a year since you stained... do it again. Have fun with it! Invite some friends over, buy them some pizza and get them in on making you some extra cash! A stained deck and make a back yard look new again!

Another common mistake is that home owners confuse market value with appraised value and assessed value. I'll explain: * Appraised value is determined by an appraiser. They take into consideration all of the homes that have sold within a short time that are within a close proximity to your home. This is often used by a bank. * Assessed value is what your local municipality considers your home to be worth. * Comparable Home Value is generally what a home buyer would probably pay for your home today based on many factors.

To summarize, there are so many things that you probably haven't thought about that come into play when determining your comparable home value. It is best to find a company like who can offer you a free comparable home value report to show you exactly what your house is worth in today's market.

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