How to determine the market value of a property

As an owner, regardless of whether or not you want to sell your home, you should always be aware of the commercial value of a property. In fact, if you’re thinking of selling, you’re more interested in this information.  In recent years, we have seen many owners who care to determine the commercial value of their property.

There are many methods we should avoid in determining the market value of a house, as deaths. However, there are very good methods that help us fix the value of a property.

What is the market value in the world of real estate?

One of the most common misconceptions in real estate corresponding to the different types of real estate value. There are many types of “values” of real estate. 3 of the most common are the commercial value, the estimated value and the assessed value. These types of value are often confused as if you were the same, which is a big mistake because they are completely different things.

What are the worst ways to determine the market value of a property?

Method price per square meter

There are many owners and professionals in the real estate world who believe that the price per square meter is a good way to determine the value of a property. Do you think this is simply take the price of a house similar to yours, divide it by the number of square meters and … ready, we have the price of truth home? You’re wrong! Using the method of price per square meter can be used as an indicator to understand the overall value of an area, but should never be used to determine the market value of a property.

The method normally price per square meter is used by real estate agents who are unfamiliar with the place or are not working to give a price to a property. The reason why this method is ineffective to determine the market value of a property is because each house is different and unique. While the properties are similar with regard to size, number of rooms or bathrooms numbers, there are many factors that are not taken into consideration when applying the method of price per square meter.

Pricing commercial price online

There are many owners who believe everything they read on the Internet. If real estate agents receive a dollar every time a homeowner says, “But I saw that it was better internet” they have much money to go on vacation. One of the worst methods to determine the market value of a property is to ask for an appraisal online.

There are many websites that offer estimated values. Just think, how can a website that does not live near you determine the market value of your property? It is impossible to know because these pages have no idea what is happening around your house or in what state is your home.

Automatic valuation model

Automatic valuation model, is a service that provides real estate valuations using a mathematical model combined with a database. The automatic evaluation is done in seconds and uses public information along with a computational logic to calculate the estimated value of a property.

It seems that the AMV was a great way to determine the market value of a property because it uses statistics and a lot of information but it is actually quite the opposite. This is a terrible method to determine the market value of a property. Just as the model price per square meter, does not consider the characteristics of the property, or improvements or amenities.

Another obstacle of using the AMV to determine the market value of a property is that information is not always updated. If this information is not updated for months and not according to reality, a lot can change.

Comparative Market Analysis

One of the best ways to determine the value of a property is making a comparative analysis at home. A comparative market analysis, usually known as CMA, is a detailed analysis by a real estate professional that evaluates the home sold (and comparable) in the last 6-12 months of a particular place.

You must ensure that the agent is experienced to have a complete and accurate CMA. Once you have it, there is a list of aspects evaluated for CMA.

  • Comparison of properties with similar measures
  • Comparison of properties in the same area
  • Comparison of properties with the same number of rooms and bathrooms
  • Comparison of properties with similar improvements

Property evaluation report

Another method used to determine the market value of a property is to buy an evaluation report. An evaluation report is a written assessment of the property. The cost of this report varies between $ 250 and $ 500 but is a great way to have an objective opinion of the market value of the property.

Conclusions

For you will see, there are many ways to determine the market value of a property. Some methods are ineffective, but there are other good methods. If you are interested in knowing the market value of your property is very important not to fall into the ineffective methods.

How do I sell my house

Emphasis on first impression

The first photograph of your advertisement must be striking, otherwise, it is very likely that you achieve not sell your property in the estimated time, or the process for it may become very slow. In this regard, we recommend capture the attention of your potential customers how does a billboard. Studies indicate that the first 60 seconds are crucial, 20 of them focus on the first picture, in which the exterior of the house is shown. The other 40 seconds are usually divided among the other photos in which the interior of the house is taught.

After observing for a short time the initial picture, much of users focus on the features and specifications of the property, as has the size, number of bedrooms and bathrooms, among others. Then they concentrate on the description of the house as the location of it and the sites that are close to her; these short selling tips, are ideal for those who want to find buyers quickly.

Relative to the total time it takes a user to watch a real estate ad network, has determined that the prospects or potential customers use 60% of their time in observing photos of the property, 20% detailing the characteristics of the house and 20% more by reading the description of the property offered by the seller, in the event that this description exists. Therefore, if you still have the question of how I can sell my house online? Try to take into account these factors when writing your ad on our portals of European real estate.

Tips for selling your home

Now you know that the first impression is the most important of all, and that determines whether a buyer is interested or not on your property. Therefore, it is recommended that you show good pictures and also to be useful for your customer, which appears clearly outside the home and the garden, the facade, etc., and inside the same as the dining room , living room, kitchen, rooms, bathrooms, etc.

In this regard, we encourage you to investigate how to get the best pictures and, if possible, records videos of your home so that manage to capture the attention of even more users in order to sell it . Other tips you should take into account when taking pictures to your home is to take pictures of clean rooms, turn on all the lights in rooms, etc. Similarly, a great pictures is essential if you want to sell your home online.

The ad text

Regarding the text of your notice, due to the short time a person uses the web to see the real estate ad, we suggest that the description you make of your property is in around 400 characters and compose striking elements for your potential customers or prospects, so that they make a decision and want to visit your home.

It is also recommended to avoid using capital letters in the text as well as the use of adjectives that can exaggerate the characteristics of the floor, and other elements of the building. This is because these items tend to discourage the buyer and affects their decision to contact the seller or not.

You can also contact experts in the world of estate agencies so you can achieve sell your flat in record time.

House for sale tips to make your home more attractive

Once the prospective buyer has found your house and has been attracted by the images seen on it, the next step is to find housing in person.

When selling a house or a villa, the garden is the first thing you see. Therefore it is necessary to remove weeds and keep ordered to provide the best picture of it. If a villa with pool, if it is clean with crystal clear water can be extremely appealing, or it may be a setback if it turns green and dirty.

When selling a flat, entrance or portal will be the first stay for elapse potential buyers. Make sure there is no trash, dirt or any negative element.

Prior to the entrance of the house, a new doormat is an economical and easy to change option and the bell must be in good condition because it will be the first thing they checked. The front door of the house must be clean, bright and unmarked or damage of any kind.

Amplitude

To appreciate the maximum space of the house, eliminates unnecessary or moved furniture, those with more seniority or add nothing to the sale of the house. Clear the traffic areas need to be at the maximum possible space on the property. A tidy house and collection will make potential buyers feel comfortable in that space and the idea that this may be your future home is established.

Brightness

When scheduling visits to a property for sale, it is important to know the time frame provides a better image for its brightness and orientation. Looking ahead to the visit, it is necessary to open the blinds to let the maximum natural light. In the afternoon, at sunset, the lights will compensate for the lack of light if the visit is set at that time. Accessories like lamps, plus easy to implement modern design, light focused on the areas you want to highlight contribute. Low consumption LED bulbs provide good light at any time of day and are an element that can vary enormously image when selling your house.

Clean and neat

The bathrooms and kitchen are areas that should be given the utmost attention. For the buyer it represents the food and hygiene of the family, basic building blocks of life. Must show these clean, bright and fully collected stays for the buyer to see that it is not essential to a big change for use.

In addition to cleaning in the windows and mirrors, mopping floors or keep everything in order, small actions such as reviewing the tile joints can give an air of new and clean kitchen and bathrooms.

If you cannot clean it, paint it.

Nothing provides a better look at a house for sale that clean and freshly painted walls. If the house is not painted in years, bring you a neutral color and feel clean again and can make the best investment to sell a house at a higher price and in less time.

General operation

When buying a house, we go by the feeling of wanting to enjoy our space and good times with our loved ones, and in turn avoid having to do a great job to make it happen.

On the different housing facilities, switches and sockets are the most visible in terms of electrical installation. You need to ensure they are not broken and that the bulbs are still working. Not being able to see just a room or a bathroom by a blown bulb may be an error that cost us sell the house.

As for plumbing, revises tanks and faucets for us to get not leak or water unpleasant surprises with visitors.

Feeling of home

As we said earlier, a buyer seeks to understand how the space that today is your home for sale can improve and make your life more comfortable. With accomplish little details make it look enjoying this house as if he lived there.

A table set makes it more enjoyable dining, representing family moments around it. We’ll have to keep personal photos and more intimate objects for the buyer to feel at home and not have the feeling of encroaching on others or be an intruder.

Odor

One factor that is seen upon entering a home is their smell. We all associate particular odors spaces, we’d know not explain all that well but that characterize this place.

Provide a good smell is a must to move the prospective buyer is in a nice place. Housing for sale should be well ventilated before each visit.

Special care, eye care, homes where pets live. For anyone a strong odor given off as dogs or cats can end the possibility of selling the house for people who are not accustomed to living with pets and smell.

In addition to acclimate the house with air freshener and fragrances, natural flavors like coffee or bake a cake off the scent to move home we seek potential buyers.

Homes for sale by owner

There are many ways to find affordable housing, either as primary homes or investment properties. One way to get cheap home is search for properties or homes for sale that are being marketed and sold directly by the owners, not by an agency or a real estate broker.

You can easily find traditional houses or homes in foreclosure for sale by owner, homes that are facing foreclosure and need to be sold at a steep discount.

Why homes for sale by owner is a profitable investment?

First, we will analyze the advantages of looking for homes for sale by the owner against traditional houses and even foreclosure auction.

Homes for sale by owner, for beginners, are usually the properties on offer, which means they can be purchased below market value. This is especially true if you are looking for:

  • Foreclosures sold by owner , houses that would otherwise be taken by the bank and sold at auction, leaving the original owner stuck with a foreclosure on your record and score on their credit destroyed.
  • Additionally cheap homes sold by owner generally not sold “as is”, which means that these do not have to make major repairs which usually much of their profit margin eaten.

Marketers know that their homes must be in optimal conditions in order to attract buyers and usually make sure their properties easily pass any inspection.

Finding real estate for sale by their owners

The best way to find cheap for sale by owner homes is to consult the charts by the owners. These lists can provide you with detailed information about each property including price, size, address, neighborhood, services, and owners who are publishing the lists of properties. In this way, you can establish contact directly with the owners and save time and money bypassing brokers or real estate agents.

Whether you are looking for traditional houses, prefabricated houses for sale by the owner, and even houses owned by banks that are not yet sold at auction, ads listings are the best way to go. Almost every market has homes that are for sale by owner.

Tip: Look in states that have high rates of foreclosures, like Florida or Nevada. States like these are more houses being sold by the owners as these are more likely to be victims of the foreclosure process, which means they will probably try to sell your home before that happens.

Negotiations with houses for sale by owner

Now is the time to discuss the negotiation process cheap for sale by owner homes. With just a few tips for buying such homes, this process can be smooth and profitable for you and can be a relief for homeowners who sold the house.

The first step to a successful sale is to obtain a pre-approval letter even before you even search for properties. A letter from your bank informing the potential vendor you will have access to funding, helping the process and prevents someone waste your time.

Then, after you have found the property you want, which is for sale by owner, you should perform a thorough research on the property. If there any lien on the property?

If the house needs repairs? What is the value of your home compared with other similar houses? This step is even more crucial for first-time buyers, because of the inherent risk involved, but with careful research, you can mitigate that risk.

Usually, it is not advisable to go “door to door” to make an initial contract. Many older buyers write letters or send emails to the owner. If possible it is advisable to also work through a common knowledge. If the owner is not interested in waiting, they can consider their offer if they are facing foreclosure.

Finally, we have the beginnings of a contract for the sale of a home owner it must be drafted before making the approach. You will work on the final details with the seller, but be sure to include the amount you are willing to pay the initial fee, a full description of the property, the deadlines for payments and any other term contingency, such as offer must be void if you cannot sell your current home.

In conclusion

The process of selling a house for sale by owner is an exciting way to find cheap homes for sale and mortgage pre foreclosures at a discount. Anyway, if you are not only looking for homes for sale by owner, but any other property Cheap estate you can also take advantage of foreclosures bank, houses the Department of Housing and Human Development, foreclosures government and much more. Be sure you will not regret it!

Homes financed by the owner

The dream of home ownership has faded for many buyers who had lost jobs or income, and saw their credit affected. Many who have achieved a job again and stabilize their finances are unable to buy because the loan criteria are more stringent than before.

On the other hand there are many sellers who could not sell their homes because they offer a very low price for it or do not qualify concerned. When one of these conditions occurs is that many speak of owner financing as an alternative.

These contracts, which can be as tailored, have to comply with the rules of the place where the house is. Although this is a matter for which I totally recommend that you consult a lawyer specializing in real estate, I mention some generalities to be taken into account by both parties if they are thinking about it.

If you are a seller

  • If you have mortgage on the property, make sure that you are permitted to make any transaction before paying them. In many cases this cannot.
  • Orient yourself on your tax responsibilities. For this refer to your accountant or a specialist in the subject.
  • Find out about the obligations you have to keep as owner, if any.
  • Make sure everyone in the title of the property, i.e. they are also owners agree to the sale.

If you are a buyer

  • Calls for an appraisal and an inspection. These are not mandatory for the sale, contrary to when the loan is made, but you will get peace of mind and security that you are getting a good deal.
  • You will find much simpler requirements and some owners do not require credit qualification, although if you ask the credit report to know what has been your employer payments and your actual financial situation.
  • The process can be done very quickly and expenses you’ll soon besides, are minimal. You save most closing costs, including loan origination, as there is no funding.
  • You must be clear that the prompt payment will be higher than in a regular loan, sometimes up to 30 percent. Also the interest rate is usually higher.
  • Make sure you’re doing the transaction with the actual owner of the property and is not in danger of foreclosure.

Before the transaction you must be clear

  • The type of contract and what will happen to the title. If you become the seller’s name until the house is settled or goes to the buyer. If a contract includes option to rent until the sale is made, or if one of sale.
  • The total price of housing.
  • Number of prompt payment.
  • The way in which payments will be made if monthly or annual payments or be global one at a time.
  • Amount of interest and whether it is fixed or variable.
  • Who will be responsible for maintaining the property (usually the buyer).
  • The penalties and consequences of not complying with the contract. What if the buyer does not pay as well as the obligation not to sell owner to another person, or do other transactions with the house as another mortgage.
  • What if the owner or buyers die before completing the full payment?
  • The buyer’s obligation is to leave the house free of encumbrances.
  • This article is informational and not intended as legal advice.

Four tips before putting the house for sale

Put the house for sale is not only to hang the poster on the balcony or upload it to a real estate Internet portal. It takes a lot more dedication and responsibility, especially if you want to close a good deal at a good price. Therefore, the real estate agent should give four basic tips the seller before you put your house on the market:

  1. Teaching housing requires a long time. The first impression of a home is one of the things that count in the buyers when selecting which interest them. So spend time with potential buyers who want to see and money for your presentation is essential. If the seller is not convinced that the real estate agent can take you to see a house unprepared and other arranged to check the difference.
  2. The market sets the price, not the owner. It is important to understand the customer that your home is not outside the influence of the prices at which other similar homes currently sold to yours on the market. The sentimental value that can give the owner the house is typically transferred to the price, so if this ‘extra’ is very exorbitant, the real estate agent can take your client to visit other similar houses to be sold at much lower price to understand that your home must fit the current situation.
  3. Small reforms can mean big profits. Sometimes the cost of repairing any part of the property may favor selling the house at a better price. If , however, the owner decides not to do this will harm in negotiating with the buyer at the time of closing a sale price and also the floor can be ruled out by more than one customer to have a misconception of how you can cost reforms.
  4. The importance of local real estate market. Although statistics and other specialized sources give guidance on how prices are evolving in the housing market, the important thing is that the seller catch up on how they are in your local area. To close a good sales transaction, it must be updated on how fluctuating prices of similar homes in the same area and at what price are actually sold, because one thing will be the sale price and other than that are actually sold.

Five tips to sell your home

When you make the decision to put your home up for sale you want to achieve it quickly and at the best price. Obviously the result will depend on several factors such as having the professional advice and a reasonable price. But there are little things you can do to make your house “fell in love” who are looking for a home. We approached five tips to take into account and make a first impression:

  1. Look at your home as if you were the buyer. The exercise of standing at the door and identify the first impression will be the potential buyer is very useful.
  2. Check exterior paint and interior. If you are not in good condition and cannot or do not want to paint it is recommended thorough cleaning. If you choose to paint choose neutral colors is safer than pleasing, strong colors may be fashionable but not always like the general people.
  3. Presents the garden, patio and garage kept as possible. The short grass and yard without weeds or weeds, as well as a garage without large accumulation of objects can generate a greater sense of spaciousness.
  4. Arrange and organize your furniture ensuring that the spaces are shown as spacious and comfortable as possible. Also it believes that the spaces are well illuminators and you can access all rooms.
  5. Coordinates with your real estate consultant days and times to show the house. You need to be willing to receive several visits and dialogue with those who could buy your home. If you’re in a hurry the potential buyer will not feel welcome.

Finding a real estate agent

Finding a good real estate agent is an important part of having a smooth transaction real estate. The problem is finding a good realtor. The best agents are not necessarily in large firms, the best players do not necessarily make the most money. What to look for is the best agent for you and your situation.

Here are five tips to help you find a good real estate agent.

Attend open houses.

If you attend an open day, this will give the opportunity to meet real estate agents without pressure simply go to your office and talk to them one by one.

Interact with them and pick up a card. Take notes on each collect card. If you are thinking of making the sale of your home, pay particular attention to how the agent is showing the home. Take notes about whether the agent is friendly and informative.

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Search online for an agent.

Do a search on Google and view profiles of individual agents. Do your homework. The newer agents may have more time to spend with you. If possible, try to find customer testimonials.

References are one of the best ways to find a good realtor.

Ask for references to people known to have been used in the past and then ask them to describe what their experiences. Ask if the agent ever used again. If someone has had a good experience with a real estate agent, he or she will be happy to know.

Check the classified ads.

Check real estate ads in your local newspaper on Sunday. Look for websites that are advertising agents. Contact them and ask them about their experience.

By using these tips you can find a great real estate agent and be on your way to a real estate transaction successfully.

Find your real estate agent

Techniques to find your real estate agent

The key to enjoying a smooth transaction is finding a good realtor. A saying goes that “20 percent of agents makes 80 percent of the business”. The question is: how to find a good professional? The best is not necessarily one who works in the most important company, performs most of the business and get the most money. The agent indicated for you should be an experienced professional who will listen to your needs, be ethical behavior and the market knows it must work.

References

Most agents stay in business because their satisfied customers recommend them to friends, family, neighbors and coworkers. Consult your acquaintances about professionals who have work and find out their experiences. Successful agents have as main objective to please their customers and consider their needs first. Try to find a professional who exceed their responsibilities.

Search the Internet

There are many Internet sites that recommend agents, but do not ensure quality. Simply mention the professionals who have paid the owners of the sites to appear on your list. The best option is to search Google the best real estate companies, visit their sites and analyze individual profiles of the agents nearby office. Experienced agents have more knowledge, but new have more time to devote to each sale. Look for customer testimonials.

Attend presentations

When visiting homes for sale, real agents can meet in a relaxed working environment and interact with them. Collect cards from agents and record them. If you plan to sell your home, pay attention to how professional presents the house. It is friendly and explanatory? You seem to have knowledge? Do you distribute promotional material seriously about the house? Are you trying to sell the house or he spends sitting in a corner, ignoring visitors?

Discuss the neighborhood signs

Pay attention to the signs in your neighborhood and how long it takes to show up the “sold”. The agent selling faster could be more convenient for you than those who make a greater number of transactions. The results are more important than quantity.

Using print advertising

Agent’s real estate run ads for two reasons. The first is to achieve specific sales. The second is to present their work. Look for ads in your neighborhood in your Sunday newspaper. Then analyze who is the agent who advertised, it could be an expert in the area. Contact them to learn about their experience.

Recommendations professional

Ask for references to other real estate agents. Warmly often refer buyers and sellers to their colleagues, especially if your needs are not among their own specialties. Some professionals focus on resale’s of homes, while others focus exclusively on builders. Some people do only commercial or investment only sales. Mortgage brokers are also a source of referrals, as some well-known to exceptional real estate agents. Professionals tend to recommend professionals.

Features to be a good real estate agent

Being a good real estate agent requires more than obtaining a license. It involves commitment, honesty and hard work capacity. Among the features needed to develop the profession, a good real estate agent should know :

They are focused on customer service.

  • This is a work with the public, which likes to talk to people and feel satisfied seeing their customers to achieve their goal.
  • Requires frequent telephone conversations, have the ability to answer calls or answer emails on time, and be patient.
  • Buying a home is a big financial decision that most customers think carefully. Very rarely it has done on impulse, as is the case with other items purchased.

Have sales ability.

  • Is key in this profession know how to sell? Even if you devote only serve buyers and not sellers, your ability to sell your services can make the difference between success and failure.
  • Being persuasive is one of the characteristics that must develop and have the ability to close the transaction, i.e. agreements.
  • You must ensure that your client understands that you are the best choice for him and to trust that you are trained to help you achieve your goal professional, whether to buy, sell or rent.
  • This is different to close the sale of a house, which is the final part of the process and not depend solely on you.

Be perseverant

  • Most real estate transactions are not achieved in one month, and less in this market where there are so many foreclosures and short sales.
  • It is important to keep your customer motivated, but also you’re happy too, so do not neglect the process.
  • You have to be willing to sometimes take months before you achieve results with some customers.

Being organized and good planner

  • Most are their own bosses should therefore be able to work with minimal supervision.
  • They should have a particular area of work, and a good filing system to handle all documentation of their cases.
  • They have to keep your schedule organized and know they have to fulfill their agendas without excuses. They do not have a boss who scold, but look bad with the customer will bring bad recommendations.
  • They must learn to be punctual when no one is watching. They are able to organize your personal life with the same rigor as if they had a fixed schedule. Make arrangements for child care, pick them up at school and meet medical appointments without affecting customer commitments.
  • Recognize the advantages of having a flexible schedule, but somehow they have to work many weekends, holidays and evenings. To maintain control over this, not overwhelmed and not affect your other responsibilities, it is important to set rules.

Being technology and be informed

  • This profession requires knowledge of the internet, greatly tool that facilitates and expedites customer service.
  • This career field is changing with new regulations and requirements every day. We must be aware of the news and how it affects customers.
  • They must continue taking courses to become better informed and provide better service. In addition part of the requirements to keep the license is to take continuing education courses.

Be honest and recognize limitations

  • Customer funds with the rigor required by law must operate.
  • They recognize their professional limitations and not try to impersonate bankers, engineers, appraisers and inspectors. They know that each is the expert in your area.