That’s probably the number 1 question that I am asked when I meet with Dunwoody homeowners that are considering selling.
The short answer of home worth, or value, is what a Buyer is willing to pay for the property, and, what a Bank is willing to lend. The Bank, or Mortgage Lender, will have an appraisal done on the home and this will determine the value, or ‘appraised value’ of the property … so that the loan can be underwritten and funded.
When deciding on a ‘list price’ with my Sellers, I look at the most recent properties that have sold within a two mile radius of the subject property in Dunwoody.
I then compare the homes based on certain criteria: location, lot size and topography, square footage, number of bedrooms, baths, condition, ratings of the public school system and any amenities such as membership access to a swim tennis, etc. The process is based on data; however, it is subjective as well.
To effectively list a property, I make sure that the condition is always the best it can possibly be – this appeals to the Buyers sense of emotion …so they will fall in love with the home. But we also need to appeal to the Buyer’s logic … the price must make sense to them. This combination draws the offer.