proximity to other establishments
• Age of property • Size • Depreciation
Condition, of course, is a crucial factor in valuation. Location is also a factor; however, as property cannot change location, upgrades or improvements to a residential property often can enhance its value. A professional appraiser should be a qualified, disinterested specialist in real estate appraisals, with expertise in your region. His or her job is to determine an estimated value by inspecting the property and weighing it against recent sales in the general area.
COMPARATIVE MARKE TIVE MARKET ANALYSIS BY A REAL ESTATE PROFESSIONAL
This type of home valuation is calculated by a real estate agent and should cost you nothing. It's much more helpful than automated online offerings and provides detailed information on each house sold in your area over the last several months. It also includes the final sales price and the specifics of all the houses for sale in your area. These homes are your competition. By utilizing an experienced real estate agent, you can rely on proven expertise to help you determine the best listing price. Please refer to the last page of this book if you would like more information on how to request a free home valuation.
THE SECOND STEP (SELLING YOUR HOME FOR MORE)
Prior discussion showed that there is no calculable certainty in setting the value of a home. There can be wide differences 8
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