Smart Moves for Seniors

An Open Resource and Meetingplace for Seniors Thinking About Moving On With Their Lives and provided by Lois Patton, Licensed Real Estate Salesperson and Certified Buyer Representative with Albany Realty Group, Albany, New York. Also visit us at or call 518-459-4564.

Thursday, June 22, 2006

Market value of a house is determined by what buyers will actually pay for a house at the present time. You may have had a bank appraisal of your house and believe that is the actual price you can expect to receive, but the appraised price is a good faith estimate by the bank of what your home may be worth at a given point in time and it is based on the then current values of other houses in your area. There are so many variables involved in determining market value of a house, from square footage to style of the house, amenities and basics such as heating and plumbing sources that a set or projected price by a bank is not what you can count on as the price your house will sell for. Actual market value of a house is determined once a house sells in the current market and purchase by a qualified buyer is secured. Only then do you know the actual market value of your house.

A qualified and experienced real estate agent who knows your area can suggest the best understanding of the potential value and most competitive price range you might list your house for. With professional insight and guidance from an experienced agent you can determine the most appropriate list price for your house. An agent can answer questions and concerns which may come up in the process. We're here to help. Let us know how we can help you.

Have a great day!


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