“My wife and I have 2 kids in elementary school and we’re thinking of selling and moving to Poway for the schools. I keep up on the market and I’m pretty sure my home is worth about 700K. But an agent told me someone is building 2 new homes similar to mine a block away and they’re asking in the 900s. She said they make mine worth about 800K. What do you think? ”
***ANSWER:
I think that agent should lose her license!! Here’s why:
What someone asks for a home has zero bearing on your home’s value.
ZERO.
They could be asking the right price, or be tens of thousands off. I know of one home that was on the market awhile ago, listed at $4M. The only problem is that it was worth around 700K!
Price is one of the two keys to selling a home. And any agent who advises you to price your home based on an UNSOLD home is guilty of malpractice.
