Home Sellers and Buyers: Rapidly Changing Market Makes it Difficult to Determine a Home's True Value

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Web site survey respondents chime in: #1 challenge is setting a sales price that is perceived as fair to both the seller and the buyer, and also justifiable to real estate appraisers and agents.

Knowing what homes sold for even in the recent past isn’t good enough in a rapidly changing market like we have today, said Ralph Smith, an experienced real estate agent with Weichert Realtors in Northern Virginia. I use HomeValueZone on a regular basis in my daily business.

American home sellers are frustrated and confused about how to determine what their home is really worth in today's rapidly changing market. Home buyers want to make sure they're not offering too much or too little for their next home purchase. These findings were gleaned from a six month survey at the web site HomeValueZone.com.

“There are hundreds of real estate sites where a consumer can get a free home value analysis, and they’re just about all the same,” said Jim Lofton, creator of HomeValueZone.com. “Most of these sites only use past closed sales from the local MLS service. The problem is you’re not selling your home in the past. In today’s market home values are changing rapidly, mostly downward, and if you’re pricing is based just on homes that have already sold, you are missing a major factor.”

HomeValueZone.com is a pricing system based on trends in the marketplace. A traditional Comparative Market Analysis (CMA) looks only at completed sales in the past. HomeValueZone does this too; but also examines the current trend of sold but not settled sales, homes listed for sale now, and homes withdrawn as unsold.

HomeValueZone.com offers free automated and proprietary Value Trend software that quickly performs (4) CMA’s for an entire year. These CMA’s are then averaged to create a monthly percentage increase or decrease for a specific home in a neighborhood.

“Knowing what homes sold for even in the recent past isn’t good enough in a rapidly changing market like we have today, said Ralph Smith, an experienced real estate agent with Weichert Realtors in Northern Virginia. I use HomeValueZone on a regular basis in my daily business.”

HomeValueZone.com is free for home sellers and buyers in Virginia, Maryland, and Washington, DC. Sellers’ use it to get an accurate sales price that can be justified to buyers, real estate agents, and appraisers. Buyers’ use it to determine if they’re offering the right amount on a house that is for sale. HomeValueZone contains links to help consumers find top real estate agents and lenders, and a free contact database, free automated Value Trend software, and more to help real estate professionals in their work.

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Jim Lofton
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