Who decides how much houses in my area are worth? I think whoever decides the value needs to get a pair of glasses, quite honestly!

Most of the houses on my block cannot compare with mine, yet your site has decided that others are worth more than mine! You call yourselves experts?!
(0) | asked by: Anonymous | share | 16 months ago | Report
2500 characters left
Answer Tips: Share your knowledge. Be on-topic . Refrain from self-promotion.
* Refer to our community guidelines.

Answers

Viewing Answers 1 - 11 of 11
answer by Joanna Renner    |   Contact Me
A property value goes by recent sales of similar properties and by current market trends. It is not uncommon for a deal killing appraisal to be listed on a site. These estimates should not be taken as gospel. It is the agent's job to show comparable comps then differentiate your home with all of it's upgrades. Square footage number of bathrooms, new roof, new mechanicals should all be listed on your description and when people do their searches they go by price and number of bedrooms so they will see the difference. An estimate is clearly NOT an appraisal and is especially inaccurate in an up trending market where it takes time for recent sales to be included and factored in. Best of luck.
0
0
Answer Helpful?
15 months ago  |   Report   |   share
answer by Joanna Renner    |   Contact Me
A property value goes by recent sales of similar properties and by current market trends. It is not uncommon for a deal killing appraisal to be listed on a site. These estimates should not be taken as gospel. It is the agent's job to show comparable comps then differentiate your home with all of it's upgrades. Square footage number of bathrooms, new roof, new mechanicals should all be listed on your description and when people do their searches they go by price and number of bedrooms so they will see the difference. An estimate is clearly NOT an appraisal and is especially inaccurate in an up trending market where it takes time for recent sales to be included and factored in. Best of luck, Joanna
0
0
Answer Helpful?
15 months ago  |   Report   |   share
answer by Joanna Renner    |   Contact Me
A property value goes by recent sales of similar properties and by current market trends. It is not uncommon for a deal killing appraisal to be listed on a site. These estimates should not be taken as gospel. It is the agent's job to show comparable comps then differentiate your home with all of it's upgrades. Square footage number of bathrooms, new roof, new mechanicals should all be listed on your description and when people do their searches they go by price and number of bedrooms so they will see the difference. An estimate is clearly NOT an appraisal and is especially inaccurate in an up trending market where it takes time for recent sales to be included and factored in. Best of luck, Joanna Renner serving Monmouth and Ocean County NJ
0
0
Answer Helpful?
15 months ago  |   Report   |   share
answer by Michael Solomon    |   Contact Me
The market will determine the price of your home but if the buyer is getting a mortgage the property will also need to appraise for the new lender to complete the loan
0
0
Answer Helpful?
15 months ago  |   Report   |   share
answer by rafael molinaro    |   Contact Me
The Market sets the sale price. Professionals in your area will provide you with a Comparative Market Analysis, that will show you how much is home worth . Let me know if you need any help.
0
0
Answer Helpful?
15 months ago  |   Report   |   share
answer by Jeanette Martinez    |   Contact Me
Hi, the market determines the value of your home. Other homes in the neighborhood similar to yours that have recently sold are good indicators. Other factors that weigh in are upgrades, square footage, lot size, etc. Computer generated valuations are generally incorrect or off to a certain extent. Your best bet in determining what your home might actually sell for in the current market is having a Realtor come look at the property and draw you up a real market analysis. I hope this helps!
0
0
Answer Helpful?
16 months ago  |   Report   |   share
answer by Andrew Kitsos    |   Contact Me
The market determines pricing. If there are comps that show closed transactions to support the higher values then there you go. Ask a realtor to do a market analysis on your home. You might think its a good time to sell if you can make a good profit. In general many areas in the United States have a low inventory and a higher demand. Lower interest rates are also fueling up the demand. If you want a professional to give you a value than get an appraisal done.
0
0
Answer Helpful?
16 months ago  |   Report   |   share
answer by Denise Mathews    |   Contact Me
The home-buying public decides how much a house is worth. Any home is only worth what someone is willing to pay for it. Having said that, real estate agents, banks and appraisers research the price of comparable homes that have sold recently to determine what a house "like yours" is worth, based on what homes "like yours" HAVE sold for. That is how a realistic asking price is come up with. If a home is priced incorrectly, the home buying market will either drive the price down if it is priced too high and doesn't sell and the owner has to reduce the price to get offers....or will drive the price up if a home is priced low and so many people jump to buy it that a bidding war ensues and drives the price back up to what the market is willing to bear. Ridiculous pricing generally happens when third party home search engines, run by software, not humans, attempt to guesstimate a home value. Know that these third party home search sites are in the business to sell advertising, not sell homes-they just use real estate as the vehicle to be in advertising sales.
0
0
Answer Helpful?
16 months ago  |   Report   |   share
answer by Armond Viola    |   Contact Me
Most websites use very generic systems to provide price for a property. It would be best to contact a productive agent in your area
0
0
Answer Helpful?
16 months ago  |   Report   |   share
answer by Kathleen Morris    |   Contact Me
The websites that set home values are not considering upgrades or the condition of the property. They are looking at the type of structure, past sales of your neighbors and square footage. It is very general. For a true value of your home, contact a local real estate agent who knows the market in your neighborhood...
0
0
Answer Helpful?
16 months ago  |   Report   |   share
answer by Stephanie Bryson    |   Visit My Website   |   Contact Me
You're local Real Estate Agent will research properties within a mile that sold, under contract and available. They should be like properties. We go under the bank appraisors guide lines and all sales are within 6 mos. We can adjust for upgrades .
0
0
Answer Helpful?
16 months ago  |   Report   |   share
Please read Homes.com's Questions & Answers Community Guidelines.