What should you do?
December 1, 2009
Breaking Records
December 4, 2009
Spring Texas home buyers have lots of questions about houses and I suppose that is a good thing. There are numerous things about a house buyers should want to know because the answers impact the market value of the house. Questions such as “How old is the home’s water heater, roof, and HVAC system?” A home that has had its main components recently replaced is worth more than a home whose components are at the end of their useful life.
There are some questions that buyers ask which have no impact on the value of the house. Questions such as “Why are the sellers selling?”, “Where are the sellers moving to?”, and “What did the sellers pay for the house?”. Buyers don’t need to know the answer to these questions to determine the market value of the house. Comps are what buyers need to be evaluating and studying to determine the home’s market value.
But buyers get hung up on these questions especially the question of “What did the sellers pay for the house?”. What the sellers paid for the house last year or ten years ago does not matter. The comps are what matter.
Sellers on the other hand are just not as curious about buyers. Sellers don’t ask “Why are the buyers buying?” or “Where are the buyers moving from?”. All the sellers want to know is “Are the buyers pre-approved for a loan and do they have the financial ability to buy our house?”.
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