Question:
“Hi Gary. I’m not ready to sell yet, but what do you think about going to open houses to get an idea of what my home is worth?”
Answer:
Let me tell you a story…
There’s a Bay Park home that had been on and off the market for years, usually listed 20-50% over value. Well in 2003, they put it on the market…at a whopping FOUR TIMES its value.
Can you imagine how far off you’d be if you went to an open house there?!
The lesson is that what someone else is asking for their home does NOT tell you what your home is worth. It only tells you a price they want and no homebuyer has yet been willing to pay.
The best way to determine your home’s value is by having a skilled Realtor compare it to what similar sold homes have recently closed for, then adjust for the market and different features of your home versus the comparable homes.
If you’re thinking of selling your home in San Diego County and want a good idea of the value, be it in person or a ballpark figure over the phone, call me at 858-457-KENT and I’ll be happy to help you.
