There is a difference between what your home is truly worth and what you should ask for it if listed on the market. There are a few ways to discover these values as well. Let's concern ourselves first with the actual value of the home. The best way to go about finding the actual cash value of the home is to have the home appraised. Professional real estate appraisers will look over your house and scrutinize every detail. They take into account the location of the home, the quality of the neighborhood, the home's interior amenities and appliances, the homes exterior and condition. Also considered is the age of the home, any view that it may possess as well as more common things such as rooms, bathrooms, yard space and others to form a complete assessment of your homes true value.
Different from this, is the CMS done by a realtor.
They typically look at the same aspects of a home, However their assessment is not designed to find out the exact value of the home. rather to find out a proper asking price for the home. This is vitally important in the sales process as incorrect pricing can price a home out of its target market, making in inaccessible to buyers or not earning the owner the money they are hoping to see. Both situations can be heart breaking to home owners. Waiting while their home languishes on the market is not a pleasant experience. Naturally they will want their home to sell quickly and be able to move on to their next residence. Having a home not sell quickly puts a big kink in their plans and adds huge amounts of stress to the process.
Try to remember that value and asking price will likely be slightly different. There is a lot of dependence on the current market trends to be considered in pricing a home. Also, other homes that have sold in the area recently will help you to understand why your home should be priced in a certain way. Make sure that your home has a price that makes sense for the area and what you are offering.
