Do you know much is your house worth?

//Do you know much is your house worth?

Do you know much is your house worth?

Do you know much is your house worth… today, next week, next year?

You probably have an idea of what your house is worth right now.

To be exact, you probably have an idea of it’s price range.

What you can’t know for sure, is the exact amount you could get for your home if you sold it now, or tomorrow, or next week, or next year.

Why do the house prices fluctuate so much?

Because of the now famous law of supply and demand.

Sellers’ market

If, for example you have 4 buyers for only one house for sale, the prices would tend to go up.

Why?

Because, for fear of missing out, the buyers would be willing to pay more.

This is what the real estate agents call a “sellers’ market”.

Buyers’ market

If, however, you have a market where you have 1 buyer for 5 houses for sale, the price of the house would tend to go down.

Why?

Because the supply of houses is saturated. Therefore, the seller, in order to attract the buyer, would have to lower the price of his house.

This is what the real estate agents call a “buyers’ market”.

Market price

When the buyer and the seller agree on a price, they set the market price. It’s as simple as that. What they agree on is what the real market price is. The market price, I repeat, is what the buyer and seller agree upon.

This is extremely important!

The price that you (the seller) and the buyer agree upon is the price you will get for your house or property.

In other words, your house is worth what someone else is prepared to pay for it.

Forget you emotions!

Again, this is extremely important!

Nearly everyone, me included, is emotionally attached to his house. And nearly everyone believes that his house is worth more than it really is.

The truth is, if you really want to sell your house quickly and effectively, you MUST become emotionally unattached. It’s not easy, but you must.

What you have to do is to PUT YOURSELF in the shoes of the buyers. You must think of your house the same way the buyer would.

What you should do, is look at your house as if you were going to purchase it yourself.

By | 2017-01-24T12:19:31+00:00 November 20th|Categories: House selling|Comments Off on Do you know much is your house worth?