Selling (or Buying) a Home Just Got More Complex

WCityscape taken from TMCC. Photo by Sandy Goff.hat’s your home worth? That’s a math — and market — question.  In a market that’s changing as fast as it is in Reno, just pulling up sales from the last six months won’t provide an accurate answer.

The real answer to “What is my house worth” is: The price a buyer is willing to pay. BUT with an important caveat: If the buyer needs a loan to purchase your home, the lender has to agree.  Lenders require a professional appraisal of value before funding a loan.

That adds a complex layer to nearly every home sale.  Realtors® use lots of data to analyze nearby homes — ones that have closed escrow, those pending sales and active listings to provide information to sellers and buyers.  This gives a general idea of what buyers might pay for a certain home.

You can take a look at what homes are for sale in your neighborhood at my new Chase International website.  Then contact me if you have questions about buying a property — or finding out what your home might sell for in today’s market.

As always, call or text me at 775-762-7576 or email me at hodriscoll@chaseinternational.com

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