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San Diego Home Value

by Gary Kent / Tuesday, 22 April 2008 / Published in Uncategorized

“I’d like to find out the value of my home. But you can’t really use comps to determine the value. When can you come over?”

***ANSWER:
Uh oh. That’s short-hand for:

“Scrap the accepted, time-tested way of evaluating homes because that won’t support the crazy price I want. Instead, get out the Ouija Board, tarot cards, and tea leaves to set the price. And if that doesn’t get us high enough, I’ll just tell you the premium price that I feel I should get, and I should get that price for no other reason than it’s MY house.”

In only the most extraordinary one-in-ten-thousand situations do you scrap the “comparable sales approach” (aka “market data approach”) and instead use the “cost approach” to evaluate a home.

Because I haven’t determined the value of real estate 10,000 times (I’ve only hit about 6,000), I haven’t encountered one yet.

You could be the one, but I doubt it.

Discover Your San Diego Home Value

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About Gary Kent

Licensed since 1984, San Diego real estate broker Gary Kent is a recognized authority on real estate. In addition to selling over 5,500 homes for clients, he has been an expert court witness, trainer of other agents, and he does seminars on home buying, home selling, and investing. Gary has sold homes for The Salvation Army, dozens of major banks, and Fannie Mae, amongst others. You can find Gary on Facebook, Instagram and YouTube.

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