Home Value?!
ponder if their home has appreciated enough to avoid a Short Sale! But how can you Find Your San Jose Home’s Value to determine if you can avoid Short Sale?! How will you know if you can NET enough money to payoff loans and the close costs?!
One option is to use Trulia which publishes Real Estate sales data for neighborhood. Trulia Recent Sales should provide you a good impression of the market activity. However, Trulia will only provide you an “estimate” since they offer no feature to filter for unique features of a home.
Best option is to determine the net proceed from your sale using by requesting a Payoff Demand from your lender(s). However, you would need to add seller paid closing costs along with commissions. That’s where your Real Estate agent can help. Your agent can generate comps to determine your Fair Market Value of your home. Your San Jose Real Estate agent can also order a payoff demand from the escrow company that would include Commission and Closing costs.
Armed with this information you should be able to determine if your net proceeds will be sufficient to avoid a Short Sale. Also, depending on the net amount and your plans, this agent can develop a marketing strategy to help net maximum sale for your property.
We have written blogs about strategies to maximize your net proceeds from your Home Sale which we strongly recommend for everyone considering selling their home.
In summary, the best way to Find your Home Value is to use the same techniques thank banks use to price their properties for sale. And just like any other valuation method, it takes decent amount of experience to be able to Find your Home Value that can be used to market your property successfully. So the best way to find your home value is to request an eBook on your home which will include Sales, Mortgage History, Recent Sales, Foreclosure Activity and even Fair Market Rents.
Now that your home is not selling, what will you be your next move!? Let us know.
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