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Jodie Collins & the QBee Team

A Texas Realtor for Keller Williams Professionals in NW Houston

KW Professionals

Home Fair Market Value

Determining Fair Market Value for you home isn’t a black and white answer; it is truly a gray answer. The reason is that the home market value is affected by neighborhood location, street, home condition, upgrades, and the list goes on. Of course, anything is only worth what someone will pay for it, but for a home, you also have to consider the appraisal amount, if the buyer is using a mortgage lender.

Determining Fair Market Home Value

Home Value, Fair Market Value Triangle

This chart  shows the percentage of buyers increases at of below the fair market value of your home. Traffic equals a potential  buyer.

TheTriangle Asking Price Vs Percentage of Buyers

Determining Fair Market Value

The fair market value of your home is determined by the home market value – that is, what today’s buyers are willing to pay.  Buyers are comparing your home to other homes now on the market.  The reality that many buyers don’t want to except is that your potential buyer,

Doesn't  care about:

  • What your neighbor says
  • What another agent says
  • what you spent on upgrades
  • What is costs to build today
  • What you spent on repairs
  • What you spent on remodeling
  • What you spent on new carpet
  • What you paid
  • What you need
  • What you want

Interest vs. Time

The longer a home stays on the market, the less interest it will receive. This is actually something that both Real Estate Agents and potential buyers consider.

Home Buyer Interest Vs Weeks On The Market

Ads Alone Are Not Affective

Ads are not very effective for selling real estate.  Data compiled in 2003 by the National Association of REALTORS showed that buyers first learned about the home they purchased from:

Ads Alone Are Not Affective is Selling a Home

How a Realtor Determines What Your Home is Worth