Dart Realty Services Free Property and Home valuation
Dart DeBarros has over 4 decades of experience in the Big Bear Lake property market. Dart will not only research hard statistics such as recent sales, average prices and related data, but he also brings his intimate knowledge of the area, roads, schools traffic patterns and many nuances that can make one particular property more desirable than another. Without this type of knowledge you might value your home too high or too low, but of which can cost you time and money.
Allow Dart to create a free home valuation for your property so you can be confident of what your home is worth and what the best selling price could be.
Complete the valuation request below and Dart will get to work for you immediately.
What You should Know About Home Valuations
A main consideration in appraising is to determine a property’s value: the present worth of future benefits arising from the ownership of real property. Unlike many consumer goods that are quickly used, the benefits of real property are generally realized over a long period of time. Therefore, an estimate of a property’s value must take into consideration economic and social trends, as well as governmental controls or regulations and environmental conditions that may influence the four elements of value:
- Demand – the desire or need for ownership supported by the financial means to satisfy the desire;
- Utility – the ability to satisfy future owners’ desires and needs;
- Scarcity - the finite supply of competing properties and
- Transferability – the ease with which ownership rights are transferred.
Value Vs. Cost and Price
Value is not necessarily equal to cost or price. Cost refers to actual expenditures; for example, materials and labor. Price, on the other hand, is the amount that someone pays for something. While cost and price can affect value, they do not determine value. The sales price of a house might be $150,000, but the value could be significantly higher or lower. For instance, if a new owner finds a serious flaw in the house, such as a faulty foundation, the value of the house could be lower than the price.
An appraisal is an opinion or estimate regarding the value of a particular property as of a specific date. Appraisal reports are used by businesses, government agencies, individuals, investors and mortgage lenders when making important decisions regarding real estate transactions. The goal of an appraisal is to determine a property’s market value: the most probable price that the property will bring in a competitive and open market. Market price, the price at which a property actually sells, may not always represent the market value. For example, if a seller is under duress because of the threat of foreclosure, or if the property was sold in a private sale without being exposed to the open market, the property may sell below its market value.