This Is What My Salt Lake City Home Is Worth!!
How many times have I heard "this is what my Salt Lake City Home Is Worth" !!
Or, "I don't care what that Murray Condo sold for, mine is worth"........
How about " let them try to find as nice a deck in all of Riverton as I have built in this back yard,"
"Don't they know how much those tiles cost?"
The potential scenarios are endless, But the way we can educate our clients, without incurring their wrath and fostering bad feelings is not.
That's why I'm passing on this gem of a blog in its entirety. Tony has some good dialogue!
Thanks to Tony Grego, Senior Mortgage Banker @ American Bank in Indianapolis Indiana.
Do you feel that pricing a home is a little like throwing darts these days? Sometimes you hit, most times 
you miss?
At the end of the day Realtors have a next to impossible job trying to help clients price their home. I don't think I ever met anyone that wants to lose money but most homes we price today should reflect a lower price than a few years ago. Now I'm on the mortgage side of things but I hear the same things. My house is worth XXX,XXX due to:
"I have nicer landscaping."
"I just replaced the carpets."
"I just repainted the walls."
"I just had the bathroom toilet fixed."
"I had my furnace replaced last year."
Realtors work very hard with comparables, pictures and stats to help support the price. I'm not saying that these upgrades are not important. They just don't really add value. They add eye and curb appeal to help a potential client say yes to the listing.
What goes into a Lender's Appraisal?
For Fannie Mae, Click here
For Freddie Mac, Click here
For FHA, Click here
Most homes are financed. So these appraisal standards are important when you price. Remember we are in a Lender's Market. Nothing will turn a buyer off more than working hard on a price agreement only to find out the appraisal comes in short. So to best serve our clients remember that most of the weight for your pricing strategy must be Lender comps.
At your service,
Tony Grego
Senior Mortgage Banker American Bank - Indianapolis, IN Branch
www.getmyratequote.com
www.tonygrego.com to learn more about me
I hope you found Tony's article as helpful as I did, and the links on the site a plus.
If you are looking for an agent than can help determine what to offer on the home you've found on the net, give us a call 801-567-0946.
If you just want to start looking, we have almost 20,000 homes listing for you to search on Salt Lake Homes. You can see maps of houses and condos listed around Salt lake city, prices and maps of homes, and directions on how to find the neighborhoods.
Or just call us and ask us, "what is that Salt Lake City Home Worth"?