This residential real estate video is about how you can determine a homes value. This is useful if you’re trying to sell your home so that you’ll be able to determine where you should price the home and if you’re buying you’ll be able to determine what you want to offer on a home you’d like to buy. Keep in mind that real estate is hyper local which means that your home might need to be priced completely differently than a home four streets over. Things that can effect a homes value is the local job market, local mortgage market, interest rates, mortgage availability and the political climate. Most people use Comps (Comparative Market Analysis) to determine a homes value. Comps are useful because they look at similar homes in the same area that have recently sold to help you better gauge what the current climate might be like. Comps can be dangerous though because it’s only looking at the past sales figures and not accounting for the future. You’ll want to make sure you have a real estate expert looking at the past and future real estate market trends in order to help you make the best financial decision for you and your family.
Broker/Owner of Market Experts Realty & The Todd Tramonte Home Selling Team
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