Friday, June 21, 2013

How To Estimate a Realestate Property

When you’re trying to put your house on the market for sale, you will have to set your property at a selling price. If you’re new to estimating a property’s value, this may seem intimidating. After all, when a buyer looks at a home, one of the first things they’ll ask about is the price. Fortunately, if you know a few tips for estimating Leverage realestate, you can come up with a reasonable amount that will attract numerous buyers.

Consult a Professional
Many homeowners prefer to hire a real estate professional to assess the value of a property. If you choose to go this route, be sure to get in contact with an appraiser or real estate agent. An appraiser will inspect all areas of the property and give you a price. Find one who is licensed and experienced in real estate so he can accurately make calculations through quantitative and qualitative strategies. A good appraiser will look over property maps, measure the home and yard, compare your home to similar homes in the area, and jot down needed improvements. An appraisal may cost anywhere from $300 to $500. If you want a free assessment, get in touch with a real estate agent or broker. They will give you a competitive market analysis. The agent/broker will compare your home to other properties that are similar to yours and are trying to be sold. You’ll receive a fairly accurate estimate, although you cannot use this figure to gain a new loan for your mortgage.
DIY Calculation
You can come up with a few calculations on your own. One suggestion is to visit sites that list the appraisals of homes that are in your area or are similar to your house. All you have to do is enter in your street address. While this will give you an okay ballpark estimate, it’s still wise to take other factors into account. Measure the square footage of your home as well as the number of rooms and bathrooms, since every buyer will want to know this amount anyway. Also consider the condition of your house. Is it a fixer-upper or does it need minimal repair? Subtract the cost of repairs from the initial price. If you’ve done repairs or remodeling, find out the average return on investment. Furthermore, keep in mind the age of the house as a selling factor. When all is said and done, you can devise an accurate figure for your Leverage realestate property.

This is a guest post provided for the enjoyment of Hope's Cafe readers.

**DISCLOSURE: This is a guest post in part with Bucks2Blog. **

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