Real Estate Values, Apples and Buicks

Apple 001

“What is the value of my property?” A question asked of REALTORS everyday. The answer isn’t always easy. Some times it’s like comparing apples to Buicks.

Comparing property around Fremont County Colorado is difficult,there aren’t many properties that look exactly alike. It’s not uncommon to find a 3 bedroom 2 bath house in Canon City on a city lot near a 3 bedroom 2 bath house on 1 or more acres. One may have city water and the other has a well or cistern. A Victorian home in Florence doesn’t compare to a Victorian house on acreage outside city limits. A 2000 sq.ft. house in Rockvale isn’t the same as one in Top Rail.

Your property is worth:

  • What the appraiser says it’s worth
  • What a buyer is willing to pay
  • What a bank is willing to lend
  • The recent sales of comparable properties

Your property value has nothing to do with:

  • What your neighbors are asking for their properties ( Do you really think they are going to get that much?)
  • Your financial needs, kids tuition or next vacation
  • The emotional investment you have in the property
  • The assessors value

It is unlikely that a gullible cash buyer is going to come along and buy into the inflated price of your property. With the current supply and demand for properties buyers are more likely to skip a property that is priced incorrectly and move on to another priced at market value. If a seller thinks that real estate is a game of offer and counter offer that seller is chasing off or missing potential buyers who are willing and able to buy but not willing to work with an unreasonable , unrealistic seller.

Other articles about pricing property:

“This is not just a problem we are seeing in Western New York, it is  a crisis of home sellers delaying the heartbreak of not getting the price they want.  Sellers want to feel good about the sale of their home.” http://www.buffaloniagararealestatehomesales.com/real-economics-of-selling-your-home/  Colleen Kulikowski

The issue of over pricing homes is a national epidemic, several of the agents I know across the country and I have discussed this at great lengths; http://www.centraloregonbuzz.com/blog/quit-drinking-the-real-estate-kool-aid Thesa Chambers

For a free no obligation CMA on your property or click on the link to the left: http://www.realestatecoloradostyle.com/free-cma

Dena Stevens Putting the ‘real’ into REALTOR since 2004

About Dena Stevens (719) 369.9087

Putting the 'real' into REALTOR since 2004 Ask about vacant land, ranch land or residential properties. Loyalty and devotion are things buyers and sellers expect from their Realtor as well as the fiduciary responsibility of due diligence. Dena is a certified Ecobroker, focused on sustainability, energy efficiency and the environment and is a Certified Sales Professional from the Association of Home Builders. Specialties: A client once said "you put the 'real' into REALTOR" to me. I took it as a complement and I've been using it ever since, I'm a no nonsense kind of person. I've been helping people buy and sell real estate since 2004. Associate Broker REALTOR Certified Sales Professional (CSP) Short Sale Foreclosure Resource (SFR) Ecobroker GHSP The Fair Housing Act is a federal act in the United States intended to protect the buyer or renter of a dwelling from seller or landlord discrimination. Its primary prohibition makes it unlawful to refuse to sell, rent to, or negotiate with any person because of that person's inclusion in a protected class.
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9 Responses to Real Estate Values, Apples and Buicks

  1. it truly is a nation wide epidemic isn’t it – amazing how many are afraid to speak the truth – the truth will get the home sold which is the end result the seller is looking for 🙂 nicely done Dena – you certainly are my Western Colorado REALTOR(r)

  2. Dena Stevens says:

    The phrase “honestly is the best policy” comes to mind.

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