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Price Your House
So You Get Every Dollar
You Deserve!
A 7-Insights Report
written by Mike Cooke
What
are 7-Insights Reports?
 Two professional appraisers can (a) come to your house, (b) spend 30 to 45 minutes
collecting data about your property, (c) spend a half hour driving around looking at similar houses
that sold recently, (d) spend two to four additional hours analyzing all the
collected information, (e) come up with opinions on the market value of your
property that differ by as much as 5% ...
... and both appraisals would still be
considered accurate and acceptable!
This is not due to sloppy workmanship.
Rather, the accepted margin of error in the appraisal business is about
5%.
Appraisal
methods are subject to some inherent and subjective
limitations that prevent more accurate determinations.
The
problem is that we don't want to set an asking price for your house that
is 5% off from its true market value.
If
we're 5% too high
on your asking price, your house
will just sit there and not sell. I have the research to prove it.
On the other hand, if we set an asking price that is 5% too low, you will leave thousands of dollars on the table --
thousands of dollars of lost
profit that should be in your pocket.
Think
for just a minute about just one practical implication from
this: If an appraiser who has seen your house and spent
several hours analyzing its value can be off by as much as 5%, then
you should be wary of any agent who
comes to you with a market analysis already prepared without ever
having seen your property. When an appraiser who has seen your
house can be wrong by 5%, how can an agent's analysis
be right when the agent has not seen your house at all?
So,
here's
the question: How do we set an asking price for your house if the methods
used to estimate its value are so inaccurate?
A good place to start is
with my Seven Insights report on pricing your home. You will
learn:
-
What is "fair market value"
and how is it determined
-
What has to happen to sell
you house for more than fair market value
-
A strategy that can be used
to make sure that you avoid the pitfalls of both over-pricing and
under-pricing your home
-
Much more...
This report is part of
my
Seven
Insights on Real Estate (TM) series. Just as an
interest rate of 7% will double your money in ten years, a Seven
Insights report is designed to to double you knowledge about a
variety of
real estate topics by providing seven critical insights that can be learned
in just ten minutes.
Simply
click here to request this helpful
report and it will be delivered to you immediately via email. |
