home fair market value

Why I’m Not a Fan of Price Opinions

“What’s Sauce for the Goose is Sauce for the Gander” I know of other agents — even some whom I consider excellent** — who use price opinions at least occasionally to inform the guidance they offer Sellers. Personally, I’m not a fan, for two reasons. Reason #1. Something like 90% of the time, price opinions...
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Which of These Four Factors Are Relevant for Pricing a Home?

Seller Psychology vs. Market Reality Quick!  Which of the following are relevant for determining a home’s current value? A. What the owner/seller paid for it. B. What their neighbor sold their home for a year ago. C. What the other neighbor currently is listing their home for. D. How much money the owner spent on improvements. Answer:  none of...
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Why Realtors Hate Zillow

(And You Should, Too) My job — and every other Realtor’s — would be a lot easier if Zillow simply didn’t exist. Notwithstanding its (inexplicable to me) popularity, information on Zillow is frequently wrong, dated — or both. Oh, and one more thing:  Zillow’s margin of error for calculating home values — the “hook” that...
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“At What Price Would Your Buyer Make an Offer?”

Corollary:  “Would Your Client Accept $X for Their Home?” I don’t know about other agents, but lately I’ve been seeing an evolution in showing feedback questions regarding price opinions. The forms used to ask whether the Buyer thought the home was priced at market, and if not, what price they thought was right. Now, I’m receiving forms (and emails...
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Appraisers vs. Realtors vs. Trulia “257-0”. That’s the number of times — including twice just this morning — that I’ve been called by appraisers wanting the “scoop” on a property I’ve sold, vs. the number of times I’ve called an appraiser to find out the same. Which makes sense:  as the listing agent, I’m thoroughly acquainted...
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