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Friday, August 15, 2008 Volume: 6, Issue: 33
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| Real Estate |
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Comparable Sales and Market Value |
Comparable sales are recent sales of similar properties in the nearby neighborhood or in a similar neighborhoods with similar prices. In short, they are "comparable" to the house you are buying or selling.
The comparable sales method is the best way to determine market value for 1 to 4 unit properties. Other methods are available, but they are mostly used for larger apartment buildings, commercial structures, and agricultural real estate. They don't apply in determining market value for traditional
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When Do You Change Your Listing Price? |
Should you stick to your listing price? It depends. That's one of the problems in real estate. There is rarely a "cut and dry" answer to any question. Answers are more like, "if this...then that...but..." However, we'll just talk about prices, rather than condition, location, and all those "other" variables. There are enough variables just dealing with price.
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Moving on Up? Thinking About it? |
Sometimes, making the decision to sell your house and buy a new home is relatively easy. Sometimes it is not. What will you gain by moving? What will you lose? Get out a piece of paper. Draw a line almost halfway down to the middle, then put a circle about the size of a quarter at the bottom of that line. After that, continue the line down to the bottom of the page.
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