Page 82 - Selling secrets 5 18 2023

weigh in (undesirable businesses located near the property,
for example). Online valuations can’t take into
consideration the condition of the property, or the qualities
of the neighborhood.

Since an assessed home value is for taxing purposes only, it
can be much more or much less than the market value.
Ideally, they should be the same, but usually they aren’t. It’s
based on a percentage of the appraised value determined by
a professional. From legal descriptions to on-site inspections
to comparable home-selling prices, the assessor will take
all these items into consideration when appraising a home.
Location near industry, high traffic, or potential development
will also affect the appraisal.

A CRITICAL PART OF SELLING YOUR HOME
FOR MORE, IS YOU

We’ve seen that there’s no calculable certainty in setting the
value of a home. There can be wide differences between the
seller’s assessed price, the asking or listing (market price
value), and the price at which the home sells (sale price).

A market in which homes sell within six months of listing is
considered balanced or neutral, meaning enough home
owners are selling and customers buying that neither has an
advantage. A variable, such as a major retailer entering or
leaving the area, will tip the scale toward sellers to make a
“fast” market or toward buyers to create a “slow” one. The
average time in a fast market might be 30 days, and the
average time in a slow market could be a year. Typically, any
number below six months is considered a seller’s market.

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