1. HOW NOT TO PAY TOO MUCH FOR A HOME

Up until recently, there was little or no way for consumers to discover if they were paying too little, or too much for a home. Frequently real estate agents puff up prices to get a listing, or they list over-priced properties as the only way the seller will retain their services. In both instances, the homebuyer looses. Some of the worst offenders in this category are national or regional homebuilders that routinely tell appraisers what a property is worth, rather than actually allowing the real estate appraiser to do their job and come up with an actual fair market value.

There are now companies that will give you a reliable report that will help give you a snap shot of what homes are selling for in your proposed new neighborhood. By looking at the comparables, you should be able to get a sense of what homes are selling for in your proposed neighborhood. In the same light, a potential seller could utilize this service to determine pricing for his/her house, in order to sell at a realistic price. By doing this, a seller can avoid listing a property for less than its worth (a quick sale & commission by a greedy real estate agent) and the seller can avoid putting his/her/their home on the market at a price that is unrealistic (too high for the market).

Recommendation

For those of you about to purchase a home, or for those of you about to sell your home, make every effort educate yourself on comparable home sales in the neighborhood. Don’t pay too much, or get too little for your home. We highly recommend visiting www.zillow.com.

Zillow provides a free Home Valuation Tool for Real Estate enthusiasts