Posted on Jul 30, 2019

Rhonda Stanton, Broker-Associate, Keller Williams Realty, Redlands

How does a real estate agent determine the value of your home? I strive to duplicate the criteria used by an appraiser. I search for homes similar in square footage, give or take 200 sf, similar in age - 10 years plus or minus, within a mile, with the same number of bedrooms and bathrooms, and then review the comparables that result from that search. The "comps" should also have sold within the last 6 months. An appraiser needs 3 similar homes to determine the value. They will sometimes use a home that's in escrow, but ideally want three closed sales. From there, I fine tune it by comparing it to the sold homes I found, adding and subtracting for features the homes have or don't have. Determining a value is both skill and art. It takes time. If value was determined by price per square foot alone, we wouldn't need appraisers. :-) Ask me for a free valuation of your home. #rhondarealtor #helpmerhonda #redlandshomes
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