Agent

Determining home’s market value

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

If only there was a foolproof method for figuring out what a property is worth on the open market. Then it would be easy to know how much to offer so that you wouldn't overpay, or risk losing out because you offered too little. Home sellers could price to sell without having to endure a series of price reductions and months on the market. Some buyers and sellers turn to Internet sites like Zillow.com to help them through the valuation quagmire -- with varying degrees of success. A San Francisco home buyer recently got caught up in this approach when he made an offer on an attractive new listing. The seller's agent advised the seller to list under the $2 million mark to stimulate interest. The seller, who understood that the market was challenging, took this advice and listed the property for $1.895 million. The buyer relied on Zillow.com for pricing information when he made his offer. As it turned out, he offered too little. The seller received two offers and the property sold for $2....