A message for sellers

Have you ever heard of a BPO? How about a CMA? Appraisal? These are all estimates of value for your home. An appraisal is done by a licensed appraiser and is usually hired by your lender to make sure that your house is worth enough to cover the debt. BPO's and CMA's are estimates of value done by a licensed Real Estate agent or broker in order to show how much homes like yours in your area have sold for. The next step? Adjust the values to make the subject home look more like the comparables. Your home's value isn't determined by how much you paid for it, or even how much work you've done to it. Your home's value is determined by the buyer... and they've looked at the other homes available and rank yours as best or THE REST. Don't be the THE REST. When your broker tells you the value, its probably not a good idea to say, let's price it at 25% more than its worth! You DO want to SELL your home, don't you?