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Pricing >The Value of Your House

One of the sayings from the "gold-rush" days--"Them that's got the gold, sets the price!"--is also a principle that applies to real estate. We say that a house is only worth what someone will pay for it, even though the owner, the bank, and the agent all have their own opinions about the "market value" of a home. In other words, no sale ever takes place until the buyer agrees with the price.

How can sellers arrive at the maximum "fair" price that buyers are willing to pay? Buyers (and appraisers) make their decision based on comparisons. While shopping for a home, buyers will visit many similar homes in their price range and measure the features of each one against the price. They decide which house offers them the maximum value for the price. Buyers do not expect a home to be a "steal" or dramatically under-priced, but they do expect it to be a fair value.

Sellers must determine the value that their home offers in order to arrive at the right price. The real estate agent will advise the sellers what buyers should be willing to pay for their home, but the asking price is set by the seller.

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Q	What land did the U.S. Government buy for $7.2 million?
A	The U.S. bought all of Russian America (Alaska) from the Russian Czar in March 1867.
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	MISSOURI OFFICE The Gresham Group Reece & Nichols Realtors 100 Cedar Tree Square Belton, MO 64012 Office: 816-348-4817 Fax: 816-322-5820 Toll Free: 1-800-421-6575 TheGreshamGroup@NUMBER1EXPERT.com		KANSAS OFFICE The Gresham Group Reece & Nichols Realtors 2140 E Santa Fe Olathe, KS 66062 Office: 913-254-2579 Fax: 913-782-5023 Toll Free: 1-800-421-6575
Each member of The Gresham Group is highly skilled and ready to help you find just the home you are looking for in today’s market. Financing is a snap with our fast no obligation, confidential pre-qualification. First time homebuyer, moving up, or down sizing, The Gresham Group has the answers to all your real estate questions.

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