FAQs

Q: How can I find out how much my house is worth? There are no comparable homes in my area.

A: This may be a bad sign, especially if you think your house is worth more than other houses in your neighborhood. Homes maintain their value better if the neighboring properties are fairly similar. In your situation, you may have to get analysis from an expert. Without knowing why there are no comparable properties in your area it is difficult to give another suggestion. If your lot or home is over-improved, the value will most likely not be what you expect. If your home is much larger than everyone else's, you might not get the same cost per square foot as other homes in the area. I would not recommend hiring an appraiser. Appraisers are better at "justifying" a price than determining fair market value. Zillow and Trulia are also often incorrect because they do not pull MLS data which is the best source for values. If you're looking to sell contact us and we can provide you a price.

Q: Where can I get information about the asking prices of properties that have sold during the last six months? I have found information on the selling prices, and would like to compare them to the asking prices.

A: The only reliable place is the Multiple Listing Service (MLS). For that, you need to be a member, or ask an agent to obtain the information for you. I cannot think of any reason why an agent would not be willing to give you that information, so just ask one. There is not a value in knowing asking prices. There are different strategies in developing an asking price. Many properties start out over-priced. Knowing properly priced houses vs. over-priced houses would be more useful.

Q: How do you know whether the price of a home per square foot is reasonable or if you are about to make a bad decision?

A: Though this seems like an easy question, it is not as simple as it sounds. Much more goes into the market value than just square footage. Has one been renovated and one not? Does one have a pool and the other doesn't? Does one have a water view and the other is a dry lot? Say two houses next door to each other have the same square footage, but one has two bathrooms and the other has one; guess which one will probably be worth more? Cost per square foot is only one indicator which must be adjusted up or down depending on other factors to get a fair number for that particular house relative to the others.