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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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In which 'Oil Sheikdom' of the Far East do the wealthy still choose to live in primitive houses on stilts?
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Brunei's oil wealth results in no income tax, free education and health services, and cheap housing loans for its average citizen. |
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Patricia Modica Howard Hanna Smythe Cramer 6240 Som Center Rd. Solon, OH. 44139 Phone: 440-248-7313 Fax: 440-248-7540 Email: Pat@PatModica.com
Pat specializes in the communities and counties which make up the east side of Cleveland, including the Chagrin Valley area. In addition, Pat’s relocation connections allow her to link clients moving out of northeast Ohio with professional real estate assistance in their new location, as well as assist homebuyers moving into our area find a new community to call home.
Pat has a team of professionals behind her, including her daughter, Jamie Mehl. The team’s number one priority is client satisfaction. They are always just a phone call away and ready to help, removing unnecessary stress from the transaction and making it a smooth and enjoyable process.   
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