YOUR HOMES VALUE

                                                                                                                          continued

                   ABOUT MARKET 

What is the Market Value of your home? In a normal real estate market, it is the price your home will sell for within a few months.The final true Market Value of your home is the price that it actually sells for. This means we have to try and judge what that price is. Chris has already said he is not a magician and will not disappear after you hire him to sell your home. So he cannot predict the future. However, Chris can use tools and experience and with your help, can come real close to judging the market value of your home.

The market value in general refers to the city where the home is. Homes in Naples have an average market value greater than the average for Orlando. But it of course refers specifically to the very exact neighborhood where your home is. A home exactly like yours in a different neighborhood, is not too pertinent to the market value of your home.

The market value is then related to what kind of shape your home is in. It depends on what prospective buyers think about the condition of your home. It is vital to let your home shine to its very best, so buyers don't disappear in 60 seconds. A buyer does not visit your home unless it meets the physical criteria they have. The buyers will remember your home as a strong possibility and move it from the long list to the short list if your home is impressive (clean, in repair, not cluttered, ready to move into, etc). 

If your home needs one or more major renovations, it will be considered a distressed home, and this will significantly lower its market value. If these renovations would cost you $5,000 to make right now before you open the home to the public for showing, a prospective buyer would perhaps offer you $15,000 below the listed price if you do not make them.

You may have seen the Home Shows on TV where a seller spends $5,000 on the home, and the expert comes in before and after, and tells the seller that there home is now worth $15,000 more. Did these sellers make a $10,000 profit on their $5,000 investment. Hardly. They made MUCH more because they may have allowed their home to sell MUCH sooner. (or maybe it would not have sold at all).

The bottom line is this. Real Estate Agents know – a home that is in good shape and properly priced at the beginning, is most likely to have an early sale and at the best price!  

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