One of the questions I get asked many times is, “can I sell my house for the market value in County Durham?”
Well in theory, yes. As the market value is the average price of similar properties to yours has been sold for.
Some people say that their house is worth £100,000 but there might have been one similar across the street that sold for £90,000. That’s the market value, not what you think it is.
The market value is what somebody is prepared to pay.
So to find out more about what that is, you can do research. Research is a big thing in property, especially now that in this day and age we’ve got all the online portals available, Rightmove and Zoopla.
You can get a vast amount of information off of them. Have a look, put your postcode in, and see what comes up, what’s for sale in your street. If there’s nothing for sale in your street, look a little bit further afield. So you’d go to a quarter of a mile, expand your range a little bit. Also then you’ll see if there’s one over the road or along the next street sold and check how quickly has it sold.
You can see how long they’ve been listed. So what that’s been listed for the last couple of years is obviously priced wrong or is not attractive at the listed price. So you you need to be sure that the price is right and how quick will it sell.
We’re in April 2020 now, if a property has been listed in March or February this year, and it’s now got a sold sign up, then that’s a pretty fast sale. That’s pretty good.
So you know that that price is about right. Look at that price and check if it similar to your house in condition, and in price, and alike. If it is, then you’d be fairly confident that you’re going to achieve the same sort of price and in the same amount of time.
So do your research.
If you’re not sure, give me a call on 0191 486 2386 and I’ll give you a fair evaluation and trusted support.