What Determines the Market Value of Your Home – Interview With Baton Rouge Real Estate Broker Darren James
This is an interview of local Broker, Darren James, by Bill Cobb, Greater Baton Rouge Home Appraiser
Question by Bill Cobb, Appraiser: Darren, you and your team of professionals at Darren James Real Estate Experts interact with buyers and sellers and are there to see the look of excitement or displeasure on buyer’s faces in terms of a home’s features. You and your Agents are experts about what “the market” or buyers see value in of a home. Darren, what exactly is the market value of a home?
Answer by Darren James, Real Estate Broker: Well, the market of a home is determined by several different factors.
Number One, Location: Number One would be location. Location, location, location – you’ll hear that all the time in real estate, and that definitely affects the value of the property.
Number Two, Condition: The second thing that determines the value in today’s market is condition. Basically, in today’s market, with buyers having so many choices with the number of foreclosures that we have on the market and so forth, buyers are smarter in their choices. Your home needs to be in the upper 1/3 percent condition and the bottom 1/3 percent when it comes to pricing and condition. That’s one thing that’s very, very important to help your home sell and improve the marketability of your property.
Number Three, Price: The third thing that affects it is PRICE, and that’s the most important. You have to get your home priced correctly. With the number of foreclosures that we’re seeing on the market today, pricing is a critical, critical factor. [social_quote duplicate=”yes” align=”default”]Work with your REALTOR® in getting that pricing to the best that it possibly can be so you’re in the market and not necessarily on the market! – Quote From Darren James [/social_quote]Think of it like this, think of it like going fishing. If you’re trying to catch catfish, you don’t wan to use top-water bait. You have to get down to where the catfish are biting. Same thing with these buyers – you have to have your property priced properly to where your home is not necessarily just on the market. It’s actually in the market, and it’s competitively priced.
Question: Darren, how can locals find out more about how Darren James Real Estate Experts handles the listing and sale of a home?
Answer: By visiting our Darren James Real Estate Experts Blog. Feel free to read the rest of our blog about some great tips to help your home be priced accordingly in the market. If you have any questions, please do not hesitate to give us a call anytime, 225-304-6363. We’re here to be of service, and we want to be your authority on real estate.
Conclusion: Darren, thanks so much for offering these nuggets of home selling wisdom!