Charlotte, North Carolina
You now know how to come up with a solid figure or your bottom line on the house that you want to sale. You also know how to determine the value of your home. This article will go into where to get your comparables'. In determining your homes value you have to look through the different homes that have sold in the area as your home. Comparables are homes that sold in a specific area that appraisers use to compare for value. In Charlotte, North Carolina home values are dropping very fast since July 2008, so knowing the value of your home is very important.
In part 2 you get the complete ingredient that will give you the most solid part you need to determine the value of you house. Have you ever heard of, "Location, Location, Location"? In your comps you need to look at the distance of the recent home sales. The Charlotte market would be safe to go out as far as 1 mile from the subject property. Most professionals would prefer comparables' no farther than the neighborhood the home is in, or if the neighborhood is spread out, maybe a half mile. Other parts of the country might require distance up to 5 miles because homes in those areas may be apart half to three or four acres. It's important that you be sure the home sale is in a comparable neighborhood as well.
Real estate agents and Realtors, they use comparables as well to judge a price point to list your house. Without comparables home sales, you could wind up selling your house to low or too high. Either way you sell your house you will lose.
Here is the good part. There are few places on the net that will give you recent home sales in for Charlotte homes and they don't charge, at least during the time of this article, nor do they ask you to register. One place you can go to is Real Estate ABC. Just google them "Real Estate ABC", and they should be there on the first page, usually in the first or second spot. They have comparables' that you will find useful. That particular website does not give you an idea how the comparable homes look, so you will have to drive by the home sales. Driving your comparable home sales should not be a hard job, that is why you need to make sure they are close to your home.
You can also use a site called Zillow. A lot of people don't like Zillow because they use the sites estimated value to determine theirs. It is not that simple. You have to view the Zillow comparables' has to see how they came up with their values. Once you compare the different houses to yours, you will notice they all of the recent home sales are not really comparables' but you will find enough out of 50 to give you a good idea.
Now you know to judge the recent home sales in your area and determine the value of your house. This one area will save you at least $350 in appraisal fees because you will know whether you can sale your house to Joe Homebuyer for a profit or try other ways to get the result you need. Determining the value is a key element in selling your house fast. If you price your house right, it will sell.
The author uses the same websites to get an initial evaluation of the houses he looks at buying. These sites save him time and money. He usually pays $3 to get a complete evaluation of homes that are more tailored to the subject home. Although the free home sales are scattered, they will have enough to get you a solid value. If you like these articles that author has written you can go to his blog at Local Real Estate News. There are blogs there that go into more details about some of the articles here. You can also get Real Estate Daily News about what is going on around the country.
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