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Your Value - Simplified

Curious how much your home is worth? Who isn't? Everyday I get emails from people curious about the value of their home.

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Here are some things to know:

- What homes are listed for are not considered comparables & do not determine YOUR homes value. Tey can however help you strategize your placement on the mls.

- What the Builder is selling homes for, especially brand new is usually not considered either.

- Licensed Real Estate Appraisers usually only go back 3 months when searching for "comps."

- Values are neighborhood specific. Master-planned communities versus communities with golf courses will certainly have a different price range.

- Lot Value means the land is worth MORE than the home itself.

- Your FINANCED upgrades by the builder are NOT worth what you paid! Builders almost ALWAYS charge 2-3 times as much to add enhancements.

- Your tax assessed value in most cases is NOT what your home is worth!

- Pools in Houston ADD value, despite what you hear on tv.

- Only a Licensed REALTOR® has access to comparable sales. VALUES you find on automated websites do not have access to the MLS comps. "Area Sales" can be very deceiving.

- Only a Licensed REALTOR® knows how to correctly formulate a good list price for your home.

Every market is different!

Posted Sunday Apr 05

Good one Greg.  It is sometimes unfortunate when people go to sites like Zillow and Trulia to try and figure out their homes value.  The only problem is that those sites only use as comparable homes that have been listed on their site.

( 04/05/09 08:12PM ) — Greg Nino Houston Texas

Larry - I look forward to the day when Zillow no longer offers their so called information. It doesn't help anyone in my opinion. Thank you for comment!

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