What is Your Home Worth?

If a 2400 sq. ft home on 5 acres that is build with inferior material – closed up to soon – lack of quality lighting – flooring appliances and just basically build with low standards or is quite old, appraises for pretty much the same as a 2400 sq ft home on 5 acres that is built with Good Quality Sinks, Faucets, flooring, appliances, and basically just a well thought out Quality construct home. Then what is your home really worth?

They say Real Estate is really worth What a Seller is willing to Sell for and what a Buyer is willing to Pay. OK this being said, than what if a Seller is willing to Sell for say $325,000 and the Buyer is willing to buy for that.

However, in that the Mortgage Broker needs the Seller to Change the Purchase price to include the buyers down payment and closing cost so they raise the Purchase Price, which raises the value. Now say that the Seller adds in personal property or a real estate selling bonus, now your Purchase Prices that will be entered into the MLS is even higher.

So you’re the house next door and you go to sell your real estate and you want to know what your Home is “Worth”. You ask a Realtor for a CMA or get an Appraisal (they use the same data). So they look in the MLS for Solds and they give you a “Worth” – a Home Value, based on what other “comparable” homes have SOLD for. Now this never takes into account the Sellers Contribution, the Personal Property, the Commission Rate or Selling Bonus, the buyers kickback for carpet or a new deck, and yet this data is what is used to Value your Home – your real estate and life investment.

Also Note here that these SOLDS in the MLS are Never checked for accuracy. The “Realtor's” file may say the home SOLD for $225,000 and the Realtor may have accidentally or purposely typed in $325,000 … now all area homes that are in that “Comparable” status just went up in so called "value" or "Worth".


An Emotional Buy For too High Changes the Market Forever.

Say Someone comes into town and falls in love with a local house. Say the Seller does not really want to sell, maybe it was something they never thought of. Well this buyer may want this home really bad. Maybe it reminds them of a childhood home, a good memory or was in their family lineage at one time. And say that money Really is No Object to this buyer so the home would have appraised for around Say, $325,000 but this buyer paid $750,000 and say this buyer wants a Realtor involved because he somehow believes this will protect him and so this SOLD gets entered into the MLS and now ALL the Appraisers and other Realtors use this data as a Comparable SOLD and the Price of EVERY comparable property around just double in “worth” in “value”.

Now Home Equity loans also use this data, so you end up borrowing more then you can actually sell your house for. The current “Home Value” system is seriously broke.

It is Corrupt data build on mistakes, lies, emotions, and incomplete information. Find out more about how the Real Estate Industry is build on lies and is Hurting the Real Estate Consumer, Creating False home values and at the same time Providing NO Protection for the Real Estate Consumer. www.SavvyBroker.com Check out My Paid Subscription Real Estate Blog and Get the Inside Story on What Really Happens in Real Estate.

So, now what is Your Home Worth?

Your Guess is as good as mine, if not better. And any Realtor or Appraiser that tells you different is simply going by corrupt MLS data that has NO Quality control efforts in place. And in no way takes into account the quality or other VERY important facts to get any kind of True Value for your Real Estate.

I have seen Sellers Sell for hundreds of thousands more than any local Realtor or Appraiser “thought” their real estate was “worth”. In the same token I have seen some homes sit on the market for years. So really, No One can tell you what your Real Estate is “Worth” or how long it will take to sell. The trick is to Get Internet Marketing, sell without a Realtor. Do not List on the MLS, Realtor.com and ANY mega site that will get you lost in the mix. Find a way to stand out and let Potential Buyers know what you have for sale. A Franchise, a Member of the MLS or the Association of Realtors will NOT sell your home better or for more money than you can sell it yourself if you Really Get Internet Marketing.

www.EurekaMontanaHomes.com