In the age of technology and mathematical equations and computers; you would think there is a clear cut answer to what my house is worth. But there really is not. There are many variables that play into the equation.
Some people go to Zillow and use the zestimate to get a gauge on the value of their house. While the data is compiled and sent through some formula to come up with a value on a house; it leaves out critical information along the way. The computer cannot tell if the house was in need of major repairs or was move in ready. how much work did the buyer have to do to bring the house up to the standards that most people would consider livable? These are factors that a computer cannot add in to the equation.
Others look and see what similar homes in the neighborhood sell for and ask themselves if Johnny down the street is asking X for his house we should be able to get X for ours. But, just because Johnny is asking that for the house does not mean he is going to get it for his house.
Another area people get misled for home prices is short sales. Because an agent has a home marketed for a certain dollar amount is no guarantee the bank is going to accept that number for the house. In fact; in most cases they want more than that for the house...it is a gauge we use to get an offer and see where the bank is willing to go on the price of the house.
The only true way to gauge a value of a home is to consult with a Realtor in the Charlotte area. Ask that Realtor for a market analysis of what your home is worth. Ask them to produce data to support their claim on the value of the house. Then go and find another Realtor in the charlotte area and get a second opinion. if both Realtors are within a few thousand of one another then you have a true and accurate number as of that time for the value of your house.
it is not like we have a crystal ball that tells us the value. but an experienced Realtor who knows their Charlotte, NC. market will be able to tell you that this house sold for this because it needed A,B, and C. this home sold for this because the sellers had done X, Y and Z.
The same can be said for charlotte, NC. Homes that are on the market for sale. Also, is it fair to compare a resale home (one in where the seller is selling the home) versus one that is a foreclosure? Distressed properties tend to sell for less because of a lot of variables; one being it is "AS-IS ".
A Realtor should be able to honestly tell you the value of your home based on what has sold and what is trending on the market right now...Only with that information can you truly make an educated decision on what to price your Charlotte, NC. home for to help get it sold in the quickest time frame for the most amount of money.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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