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How much should you list your house once you receive an official apprasal above or below the apprais

  • September 26 2012 - Spartanburg
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Answers (5)

Appraisal values differ.... if you get 10 appraisals youll usually get 10 different values.

But assuming the appraisal is 'perfect' and correctly values your home's value exactly, I would list it 10% above that value - in this market - due to the low interest rates, and work yourself down...

Your home should then sell for exactly what the appraisal value is, or at least should have sold for, since the value is really only good for that DATE of the appraisal, not a future date, as appraisals are not pro-spective (not predicting the future).
  • September 27 2012
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There are absolutely different opinions on appraisals.  From what I've seen in roughly 10 years of experience, when a home owner orders an appraisal (not a lender) the price seems to come in higher than when a lender orders an appraisal.  An appraiser is more likely to put a higher value on a property when there is not a lender to answer to.  This is a result of the disaster that hit the mortgage industry several years ago.  Your best bet is to sit down with a realtor who also pulls current comps and see if those comps line up with the appraisal.  Also, take into account the local inventory and the number of days in which homes are selling in your area.  If there is low inventory AND homes are selling quickly, you can probably list at or above the appraised price.  If the opposite is true, you may want to list at appraised value or below... and advertise that the home is "a great deal priced below appraised value" in order to create an urgency amongst buyers so that they hurry to snatch up the steal. Also, remember that the way your home is presented makes a HUGE difference. It is clean, uncluttered, and staged? Are the listing photos professional and do they highlight the best areas of the house? All in all, in my opinion, you can't take the appraisal at face value.  When you are selling your house you have to take in many other factors in order to determine the price at which  you should list your house.  A realtor with experience (ask if they include staging in theire services AND look at their listing photography to see how they present their listings) and solid referrals should be able to assist you in determining the appropriate list price.  Best of luck!!!
  • September 27 2012
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Profile picture for ErinnaTsai
It is good to have an official appraisal report for reference.  Is it coming
out recently?  Besides, I suggest you to have local real estate
professional to show you around some of for sale properties which are
as similar as your house to compare and get rough photo for what
different from yours and those, what is asking price they put for, how
many days on market of those for sale properties...etc.   All of them
will help you understand what reasonable price will be at the current
market for your house.

For price strategy, sometimes put asking price less than appraisal
value may attract more buyers.  But, it all depends on current house
market, timing, house condition & location, your neighborhood, quiet
& noisy level...etc.   A property with reasonable asking price is all
of buyers are looking for.

Wish you get house sold fast!






   
     
  • September 27 2012
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Profile picture for Joseph Owens
Congrats on getting an appraisal. Most people just guess when it comes to pricing or think their house is worth a lot more than the market will bear and it drives brokers like me crazy. If you'd be happy getting the amount the appraiser gave you, then you can certainly list at that price. It certainly makes it harder for a buyer to lowball you when everyone know what it appraised for. You could price it a little above the appraised value but then you run the risk of it not appraising to the higher value and then you're in a real pickle. If it were my listing I'd suggest using the apprised price and make it clear to buyer that that is what it's worth. Good luck.
  • September 26 2012
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Hello

It would benifit you to list your home below what it is appraised for.  A property can never sell for more than it appraised for.  If you have any other questions, or I can assist you in listing your home, please feel free to call , e-mail or tex me.  My cell # is 717-471-6681.   Take care.

Karen Shank
  • September 26 2012
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