Real Estate Values

Knowledge is the key to house market value

Knowing Real Estate Values, Can Make a Home Value Estimator Earn Her Money In a Slow Market Because Finding Sold Properties Can Be Very Difficult. Because of All The Distressed Sales It Is Even Harder.

Real Estate Values Are the Key to Market Pricing.

Knowing property values gives a clue to what the value of homes are in the areas your are interested in. The most reliable home values are based on resent closed sales, this is what real estate appraisers use.

Trying to determine the value of a real estate can be confusing to First Time Home Buyers. The best way to know what home values are if to hire a Buyers/Agent. They are paid by the sellers agent so to you they are free.

Seasoned Home Buyers also get tripped-up because of all the circumstances that become a part of defining value. A good information site is: House Appraisals

Real estate "estimated value" is normally determined by certified appraisal or a broker may produce a comparative market analysis. But the bottom line is, what a ready, willing and able buyer is willing to pay for the property.

It’s common when establishing real estate values to contract with licensed appraiser to appraise the property. Most lenders want certified appraiser’s opinion of value before they will commit to making a real estate loan.

Appraisals represent a estimate of the value at a given point in time. In order for an appraiser to approximate value of a home, the appraisal takes into consideration the following:

• Square feet of finished living area.

• Quality of construction and building materials.

• Architectural design and floor plan.

• Location and neighborhood.

• Availability to shopping, schools and transportation.

• Topography, lot size and views.

There are number of websites that can provide a ballpark value, most are free. Go to Zillow's. But keep in mind that online tools can only provide an estimate of value.

To take the guesswork out of the equation you should hire a certified appraiser to perform a full appraisal. Every real estate market has its own unique characteristics that affect value. The one common factor that I have found to be consistent in every market is square foot replacement costs plus land costs.

Another easy way to establish value is to find four or five sold homes and use the square foot selling price as a guide.

The Square foot method of defining values always holds up in every market.

Another thing I have found is the existing home values follow new home construction costs and new home sales. For more market information Real Estate Market Trends.

There are only a few pieces of information you need to make your estimation of value.

• The square feet of living area in the subject property.

• The average square footage in a typical property in the area.

• The typical lot size - in square footage.

• Total number of rooms.

• Number of bathrooms.

• Most Important: Full Visual Inspection.

• Minimum of a drive-by and neighborhood review.

Make it a point to Study the Real Estate Market Cycle Theory.

The best way to get your hands on the above information is from your friendly Realtor Buyers/Agent.

If you live in a metropolitan area another good resource is Zillow.com. Zillow's estimated real estate values are computer generate. However, Zillow gives you a good third party opinion.

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Neighborhoods have a tremendous affect on real estate... For example a grand home in a Trashed Out Neighborhood will suffer because of the location.

When shopping for a home, keep an eye out for sellers that are under pressure to sell fast. This means there is a good chance of landing a real estate bargain.

A knowledgeable buyer’s biggest advantage is time. The more time you have the more homework you can do. If you rush in to buy you’re at the mercy of the Sellers and the Realtors.

Greedy buyers can also be their own worst enemy. I can’t tell you how many times I have seen buyers sit on the sidelines when prices are going up and tell me that they will wait for the real estate prices to go back down.

They just do not get how market cycles work... I have been watching real estate market cycles for years and they always play out the same. Sometimes fast sometimes slow, but always the same.

Real estate values are influenced by many forces. Get to know what they are.

• Home Loan Interest Rates.

• Local and National Job Market.

• Un-Sold Home Inventory.

• National Economy.

As you start looking at homes, you will begin to get a feel for Real Estate Values... It will become very clear if the property is priced to low, to high, or just right.

By doing your homework you start to trust your instincts about real estate values. You will soon be able to read the market and make profitable decisions because you know market values.

Always Do Your research before you sign, knowing real estate values will keep you from over paying.

REAL ESTATE VALUES: Don't let legal issues muddy your water... Fight back... This Do-It-Yourself legal help site has the answers you need. Jurisdictionary is the way to go if you have a pending lawsuit. Watch the FREE Instructional Videos. Left Side Half Way Down...

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