As agents working with both buyers & seller, we always get the question – what is this home worth? In today’s market this probably is the “million dollar question”. With foreclosures, short sales, and bank owned homes, determining market value is a challenge.
With the number of increasing free web tools like Zillow & Trulia, buyers that are looking at homes for sale in Gwinnett county and other counties nearby, there is a lot of information. However, upon analysis, some of the information is flawed and inaccurate. While we, as agents, do look at those tools to get a picture of the surrounding market, we do so much more to get a true picture of home valuation.
So why can’t we rely on these free tools? A lot of the information that they give is outdated and some sales are not even recorded via traditional means. The market is changing very fast. When we meet with sellers or buyers, we take the time to fully research all the data to accurately determine market value. Some of the data that we use is not available to the general public. So to have the latest information whether buying or selling, you need to feel comfortable with the data to make sure that you are not leaving money on the table nor overpaying for a home.
As a seller, you need to understand how to price your home fairly and to make sure your home attracts the best buyers to see your home. Without viewings, you will never sell your home. If you are over-priced, buyers will overlook your home in favor of other comparable homes that are a better value. All the marketing in the world cannot overcome inflated value.
As a buyer, you want to make sure that your offer is well thought out so that you have the best opportunity to secure your dream home, but not overpay. A good buyer’s agent can help you research and then craft a strong offer to get you the best price. Making a compelling logical offer will appeal to the seller and therefore provide you a better chance to secure the home.
Interested in knowing the true value of a home? Contact Mark Lackey for a free appointment with one of our experienced agents to help you – 404.886.8789.