Quote:
Originally Posted by Pairadocs
Seriously ? A "professional" ? A sales person, no way. But, to each their own. I believe most people do have a reasonable idea of what their home is "worth", but also have noticed many tend to think their home is worth more than whatever and where ever the market happens to be in their locale. Had one neighbor in the villages get a market "analysis" from a sales person, WAY more than the owners had determined would be a "fair" price. They "argued" a bit for their preference, but gave in to the agent. Then month after month the AGENT suggested they LOWER the price, 5K, then 12K, kept wanting to drop it... interesting that it did finally sell at exactly the price the owners had told the agent they wanted to price it at initially, but the agent felt that their "valuation" just wasn't to be considered, too "unprofessional" probably LOL !
|
I won't dispute that happens, but "professionals" come with various degrees of competency, especially in the Real Estate business. I would have had 3 or 4 Brokers give me a market analysis.
As you alluded to, owner's really have no clue what their property is worth. They base their estimates on emotion and anecdotal stories they hear from neighbors or read on FaceBook.
Two commenters on here, went into long dissertations on how to do a "market analysis" on-line and completely left out the concept that LOCATION drives real estate values.
When I bought in TV, I had spend exactly 1 hour here. I went back to Boston, took out maps of TV and decided what was the best place in TV for me to live.
1. Which Square did I want to be close to? In a recent FaceBook poll, TV residents prefer Lake Sumter Landing, 2:1 over the other Squares. Easy choice.
2. Where were the golf courses I wanted to play, located?
3. I'm a less than 4 minute walk to a Regional Rec Center and 2 minutes to the community pool.
I'm between 466 & 466A and 3 minutes in my golf cart to Lake Sumter Landing.
That information is the intangible that drives real estate pricing and it's hard to quantify by a non-professional.
Take essentially the exact same house as mine, 2 miles in the wrong direction from Sumter, it's almost a 10% difference in selling pricing. Is it worth that much more? Of course it is. Location, location, location.
Those are things lay people don't understand.
I want to buy another home in TV, I want a 3 car garage. I need to be less than 5 minutes from Sumter Landing, without driving over a bridge. If you think I'm the only crazy person who thinks that way, you'd be mistaken.