Posted on 1. September 2011 06:37 by qmiskini

What's a house worth? That's one of the most important - and seemingly difficult- questions to answer for any home search.  And there are many ways to look at answering that all important question.

What is it worth to you... the Buyer?  What's it worth to the Seller? What is its appraisal value? What does the "market" think it is worth? Is it worth less because it is a foreclosed property...often called an REO (bank terminology for "Real Estate Owned.") Is it worth less - or more - as a Short Sale or "pre-foreclosure" property? Is it worth paying fair market value for a home that is NOT a distress sale property - a retail property... or new construction?  Does its location in the sub division affect its value and price?  How about condition, or proximity to schools or shopping? How has the foreclosure rate in some sub division communities affected price and therefore value? As a Buyer you could go nuts trying to wade through the maze of questions, statistics and trends as well as important but less apparent anecdotal information when trying to decide whether the home of your dreams is worth the price it is listed for.

That's where the Realtor you are working with begins to show his or her true value. Experienced Realtors who are members of Teams like TMT Realty Group, for example, where access to data Buyers and Sellers cannot either retrieve or decipher, and their ability to interpret the data adds a high level of confidence that the foundation assessments of properties are based on reliable information and experience and not just intuition...or worse... a "good guess."

All those factors and more go into assessing value and price. Don't get stuck guessing and hoping you not only found a home you love, but can buy it for a price you can love. To start with, ask your Realtor to help you get pre-approved by an experienced lender so you know what your price points are. Next have your Realtor provide you with the most current information daily - from all sources.  TMT Realty Group offers its exclusive HomeHunter Service, completely free with no obligation, matching your exact criteria to the newest and hottest deals from all Realtors and sources.   Then, get in your car and drive by homes and neighborhoods to see how they stack up to your specialized criteria.  And finally - visit homes with your Realtor - compare and contrast their strengths and weakness, and how you "feel" about each home until the right property at the right price makes itself apparent.

By matching superior market knowledge, systems, research and experience with your wants and needs, the right home at the right price will become the end result of a great Buyer/Realtor partnership.  You will not only have found the home you love, but you'll know what it is worth!