Whenever you hear that a
neighbor’s house is on the market, the same question flashes through nearly
every homeowner's mind: how much are they asking? That's because of the
nature of residential markets: our own homes' real estate values (in fact, all Centennial and Greenwood Village real estate values)
are connected with one another, and that asking price is an estimate of the
current state of affairs. It has to be reasonable in order to attract
the attention of serious buyers — but if
it’s too reasonable, on closing day the seller will walk away with a
lighter bank account than necessary.
estate values in Centennial and Greenwood Village are determined in large part by what other
similar homes have recently sold for. These comparable sales show what a real
world bank was willing to lend, and how many dollars a real life buyer was
willing to pay. “Comps” are to real estate values what the Dow Jones is to
securities: a trustworthy reality check, no kidding around.
How 'comparable' a comp is depends on a number of
factors to be taken into account: · The structure · Condition · Amenities · Location · Neighborhood The structure of a comp sale will have
similar square footage, number of bedrooms, etc. Its condition is a
value judgment best made by professional appraisers. Amenities can
include everything from upgrades in a development to added features like
central air conditioning or a Jacuzzi. And location means a great deal (is
it in a high crime area?) — as does the similar but more precise neighborhood
(are the neighbors taking care of their yards? Are the schools first-rate?).Ultimately, when determining real estate values
for Denver homes,
appraisers take into account much more than just the house itself.
when you set out to find a home for your family it’s important to look beyond
the physical facets of the house alone: should you later decide to sell it, the
whole host of factors will come into play. Whether you are buying or selling a
home in CentennialGreenwood Village or Denver this fall, contact me today for a pricing evaluation. Jason Peck is part of the
Carr Peck & Associates at Keller Williams. He has been recognized locally
and nationally as in expert in real estate. Locally he is 6th in Denver
Metro home sales out of 5,000 agents and has been recognized by the Wall Street
Journal and Real Trends as one of the top selling agents in America. He
is co-author of the National Best Selling Book, “The New Rise in Real Estate”.
For more information feel free to contact himor call 720-446-6301.
Author:Jason Peck Phone: 720-446-6301 Dated: September 25th 2013 Views: 2,900 About Jason: ...
Recognized as a top selling team in Denver Metro area. Nationally recognized for homes sold by the Wall Street Journal, Real Trends and Top 5 agent by RIS Media. Our goal is simple and that is to exceed our client's expectations by providing professional service, expert advice and exceptional results.
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"We worked with Karen Venier for a relatively short time for a good reason: our home sold at full price within hours of hitting the market! While it’s true that the Denver housing market is “hot,” credit for the speed and ease of our transaction belongs to Karen. She was great to work with, giving us perfect advice about readying our home for sale and then expertly guiding us from offer to close. Along the way, we came to appreciate Karen for her skillful blend of professionalism and personal touches – like dropping off our favorite beverages during a particularly stressful time in our move or shoveling our driveway in subzero temps after we’d left the state (way beyond the call of duty!). Now that we’ve relocated to Wisconsin, we keep saying that we wish Karen could be our buyer’s agent here. Since that’s not possible, we’ll shout her name loudly to whoever might be looking for a home in the Denver area.
Thanks for the great work, Karen!