What Is My Real Estate Actually Worth?

How much is your Real Estate
-  Your House, Condominium, Cottage, Income Property, Farm, Acreage, Commercial, Industrial Property -
worth in today's market?

If a number immediately popped into your head when you read this question,
I have a few more questions for you:

How did you arrive at that value?

* detailed research,
* neighbourhood gossip,
* property tax market assessment
* or a "Comparative Market Evaluation" from a local - ACTIVE - Real Estate Professional?

Why do some People think real estate value for a specific property can be represented by one number
and not a range of values based on the variety of value factors and prospective buyers for their property?

How important is it for you to know the value of what is probably your principal asset and,
therefore, to understand your full real estate purchasing power in this market?

What are the consequences of being wrong about the ACTUAL value?
If you have no idea of your property's value or little confidence in what you know,
please take advantage of our free current "Comparative Market Evaluation"  of your real estate. 

Although there is no set definition of what a market evaluation should include,
there are basic ingredients that can be useful in evaluating your position.

Sold Property:
A property is worth exactly what a buyer is ready, willing and ABLE to pay for it.
Analysing "actual sold properties" for your location and for properties similar to yours
in surrounding neighbourhoods will provide solid ground for establishing value.

Expired Listings:
These are listings which terminated at the end of the active listing period
without a sale.

Expired Listings are typically considered to be over-priced for the market,
based on the condition, location and type of the property and current buyer patterns.

These listings can also represent insight into marketing strategies to avoid or to adopt for
marketing your Property.

Active Listings:
If your property were listed,
how would it compare with the other properties
that buyers shopping that location
or that price range would be shown?

It's Buyers "needs, wants and what's" - not Sellers costs, that determine Value.

Value Promoters:
Repairs, modernizing and improvements to the property may increase the Value.

We may offer some simple,
cosmetic suggestions which may result in the property becoming more sellable.
Listening to these suggestions is the beginning of
learning to separate pride of ownership from investment realities.

What "you" enjoy is not necessarily what buyers will pay top dollar for in your location.
( A Swimming Pool or "Personalized Renovation" are perfect examples. )

Property Value Range:
Using sold, expired and active Listings, we will be able to determine a range of value for any property.

Market Value is  simply a "RANGE" rather than an absolute value.
The Property-Tax Assessment Value and the Actual Market Value may not be the Same Value
since local variations are significant.

The Value Range will be more evident to you after a
Buyer's-View Evaluation.

Selling Costs:
It's not the list price, or even market value, but what you will net, that is really important.
Be AWARE of all the Cost's involved..
i.e. Appraisal, Real Property Report, Environmental and Engineering Reports ( if required ), Legal Fees,
Real Estate Fees, Mortgage Bonus and/or pay-out Penalties, Utility and Alarm System Contracts etc.. etc..

 Also,
"The Real Estate Purchase Contract"
- There may be more to it than Price. -

Not all locations adjust equally in a market.

Values in one area may be boosted by buying activity while other locations,
even the most preferred, may not be significantly affected or may even face a downturn.

Rural property does not always increase in value as quickly as urban.

If you want to move out of the city,
check to see if you'll be favoured by a Market Value which allows you
to buy more house for less money in your dream country setting.

Market Evaluation:
Contact us for a free
"Comparative Market Evaluation".
We love to
"Talk Real Estate"

Call us for all YOUR Real Estate Needs today.
 

Ray Pfob
( Broker / Realtor )

PFOB REAL ESTATE LTD.

Calgary, Alberta: 403 - 246-8686

Champion, Alberta: 403 - 897-2333

FAX:  403 - 897-2332

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