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What to Consider When Determining
the Property Value & Offer Price
the Property Value & Offer Price
coldwell banker malibu
It is important to see that the assessed tax value sometimes doesn’t take into account the amenities of a home, upgrades
to the property or the nuances of the housing market. The value can then vary from a professional estimate. Work with
your agent to compare the details of your appraisal and the assessed tax value, taking into account all of the home’s
amenities and any issues of particular importance to your family.
3. Think about the market
When trying to determine the value of a home for sale, it might also help to consider the status of the overall housing
market. First, take into account national trends and determine whether it is a “buyer’s market” or a “seller’s market.” Next,
compare the local housing market to the national trends, considering both the neighborhood of the home for sale and a
broader geographical region incorporating the surrounding city or other nearby communities. It is quite possible that a
particular area may not be affected by national market trends, creating for instance a small seller’s market within a broad
buyer’s market, or vice versa.
4. Pay attention to the details
Besides looking at local and national housing trends, there are a few more issues that can affect the value of a home and
the details of your offer. First, you and your agent should find out how long the home has been on the market. It is believed
by many that if a home has been for sale more than 30 days, sellers are often more motivated to sell and are more
receptive to lower-priced offers.
In addition to the time spent on the market, you and your agent should also try to find out if there are any additional factors
that could motivate the seller for a quick sale. For instance, if the seller has already purchased another home or is
relocating to another state, you may receive a better response to your offer sheet.
After taking all these factors into account, you and your agent should be able to determine both the market value of the
home and the right amount to bid if making an offer. Furthermore, the more you take the information you’ve gathered into
account, the better you will be able to prevent potentially overbidding – which, of course, costs the buyer more money – or
underbidding – an error that could discourage a seller from further negotiations.
Lastly, try to remember that the process of ascribing value to a home is not an exact science. Each time a house is sold on
the open market the sales price will represent careful negotiations between the buyer and seller, with all of the factors here
taken into account by each party. Therefore, above all else, the right home should not only represent a good value when
analyzing appraisals and various market factors, it should also be the best value for you and your family.
The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.
to the property or the nuances of the housing market. The value can then vary from a professional estimate. Work with
your agent to compare the details of your appraisal and the assessed tax value, taking into account all of the home’s
amenities and any issues of particular importance to your family.
3. Think about the market
When trying to determine the value of a home for sale, it might also help to consider the status of the overall housing
market. First, take into account national trends and determine whether it is a “buyer’s market” or a “seller’s market.” Next,
compare the local housing market to the national trends, considering both the neighborhood of the home for sale and a
broader geographical region incorporating the surrounding city or other nearby communities. It is quite possible that a
particular area may not be affected by national market trends, creating for instance a small seller’s market within a broad
buyer’s market, or vice versa.
4. Pay attention to the details
Besides looking at local and national housing trends, there are a few more issues that can affect the value of a home and
the details of your offer. First, you and your agent should find out how long the home has been on the market. It is believed
by many that if a home has been for sale more than 30 days, sellers are often more motivated to sell and are more
receptive to lower-priced offers.
In addition to the time spent on the market, you and your agent should also try to find out if there are any additional factors
that could motivate the seller for a quick sale. For instance, if the seller has already purchased another home or is
relocating to another state, you may receive a better response to your offer sheet.
After taking all these factors into account, you and your agent should be able to determine both the market value of the
home and the right amount to bid if making an offer. Furthermore, the more you take the information you’ve gathered into
account, the better you will be able to prevent potentially overbidding – which, of course, costs the buyer more money – or
underbidding – an error that could discourage a seller from further negotiations.
Lastly, try to remember that the process of ascribing value to a home is not an exact science. Each time a house is sold on
the open market the sales price will represent careful negotiations between the buyer and seller, with all of the factors here
taken into account by each party. Therefore, above all else, the right home should not only represent a good value when
analyzing appraisals and various market factors, it should also be the best value for you and your family.
The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.
The potential success of your offer relies on several pieces of information. If you are thinking
about buying a home, you may want to consider the following tips:
1. Investigate Locally
When searching for a new home, many prospective homebuyers start by checking local
listings. After the search is narrowed down to a few neighborhoods of interest, walking or
driving through these areas can give you a better idea of overall neighborhood quality. As you
narrow your search, it might help to attend a few open houses in the local market to gain an
understanding of pricing trends and witness how much interest is being paid to the homes
already for sale.
In the early stages of shopping for a home, it can also be helpful to have your agent perform a
Comparative Market Analysis. This report will show you the past sales prices of homes in the
area and allow you to contrast those statistics with the current homes for sale.
2. Get behind the numbers
After you have compared the list prices of the homes you are interested in with other homes
that have sold in the area, there are a few assessments of value you should note.
about buying a home, you may want to consider the following tips:
1. Investigate Locally
When searching for a new home, many prospective homebuyers start by checking local
listings. After the search is narrowed down to a few neighborhoods of interest, walking or
driving through these areas can give you a better idea of overall neighborhood quality. As you
narrow your search, it might help to attend a few open houses in the local market to gain an
understanding of pricing trends and witness how much interest is being paid to the homes
already for sale.
In the early stages of shopping for a home, it can also be helpful to have your agent perform a
Comparative Market Analysis. This report will show you the past sales prices of homes in the
area and allow you to contrast those statistics with the current homes for sale.
2. Get behind the numbers
After you have compared the list prices of the homes you are interested in with other homes
that have sold in the area, there are a few assessments of value you should note.
