How much is my property worth?
How Much Is My Property Worth..??
As the saying goes, if I had a penny for every time somebody asked me that, I'd be a very rich man...!!
It's the question we all want to know, but it's the wrong question.......
Yes your property has a worth, however that worth currently is as tangible as walking in to Harvey Nichols with £20,000 in Monopoly money , it's a paper value, it's a value that's in your head, a value that you've started spending, you now say I need X for my property, based on assumptions.
The right questions should be, is there a market for my property or could my property get me to where I want to be. People make the mistake of counting the numbers, instead of measuring the journey.
If I were to take off all the asking prices off all of the properties and get you to pick one, that suited all of your requirements, then come back a week later with someone who would take your house, and you could now move to the house of your dreams, you would be ecstatic. Your dream would soon turn to horror when all the asking prices reinstated and you find out your dream house is actually only worth 1/2 you assumed it to be. You would be devastated. Why, because now you had made a paper loss based on an asking price, and not on the happiness that the result would bring you!!
When selling, you have to decide , are you moving or are you cashing out?
Is there a market for my type of property? Many agents measure the market by how busy their office is, not what is really happening in the local markets, this is why you have so many differing views on the property market. Likelihood is they are also scared to tell you about other similar properties that have sold through other agents, yes they may have just sold a 3 bedroom flat just like yours last week, but that may have been the last buyer for the foreseeable future. Everything is based on what has sold last month, last year....
As someone who in a previous life had to spot trends in markets and predict events 6 months ahead, I know from my own personal mistakes what history tells us. Looking backwards we can now see the rocks where ships ran aground, we can see the results of those storms and we can see the failures of House of Fraser, Leahman Bros, Woolworths, having 20/20 hindsight is easy, showing someone what the likelihood of the future is, takes skill.
We have all heard the stories about the house at No2 or No17 or Mr & Mrs Smith, who sold at the right time, didn't miss the wave and cashed in......
JUST AT THE RIGHT TIME, well that's not a fluke,
that is a good agent making sure that his client hits the
market just when they should.
So when you next need to sell a property, don't gamble, get a professional who can stack the deck in your favour.
You want to take that call, this is Craig, now is the time to sell.........
As the saying goes, if I had a penny for every time somebody asked me that, I'd be a very rich man...!!
It's the question we all want to know, but it's the wrong question.......
Yes your property has a worth, however that worth currently is as tangible as walking in to Harvey Nichols with £20,000 in Monopoly money , it's a paper value, it's a value that's in your head, a value that you've started spending, you now say I need X for my property, based on assumptions.The right questions should be, is there a market for my property or could my property get me to where I want to be. People make the mistake of counting the numbers, instead of measuring the journey.
If I were to take off all the asking prices off all of the properties and get you to pick one, that suited all of your requirements, then come back a week later with someone who would take your house, and you could now move to the house of your dreams, you would be ecstatic. Your dream would soon turn to horror when all the asking prices reinstated and you find out your dream house is actually only worth 1/2 you assumed it to be. You would be devastated. Why, because now you had made a paper loss based on an asking price, and not on the happiness that the result would bring you!!When selling, you have to decide , are you moving or are you cashing out?
Is there a market for my type of property? Many agents measure the market by how busy their office is, not what is really happening in the local markets, this is why you have so many differing views on the property market. Likelihood is they are also scared to tell you about other similar properties that have sold through other agents, yes they may have just sold a 3 bedroom flat just like yours last week, but that may have been the last buyer for the foreseeable future. Everything is based on what has sold last month, last year....Yes everything is historical, but you are selling today
As someone who in a previous life had to spot trends in markets and predict events 6 months ahead, I know from my own personal mistakes what history tells us. Looking backwards we can now see the rocks where ships ran aground, we can see the results of those storms and we can see the failures of House of Fraser, Leahman Bros, Woolworths, having 20/20 hindsight is easy, showing someone what the likelihood of the future is, takes skill.
JUST AT THE RIGHT TIME, well that's not a fluke,that is a good agent making sure that his client hits the
market just when they should.
So when you next need to sell a property, don't gamble, get a professional who can stack the deck in your favour.
You want to take that call, this is Craig, now is the time to sell.........
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