How much will I have to go down? This is the big question asked by thousands of private owners who have their properties for sale second hand. After months and months off after applying discounts to their homes unable to replace. Where is the ground of these sales? Your Home has talked to four experts who advise using different methodologies to determine a fair price or actual value (minimum) always approximate and indicative of the properties.
Julio Gil, Managing Partner of Horizon Consulting and co-director of the Master Property Real Estate UNED, notes that “there is no scientific method” in this regard and that other offering the same features (size, location, etc.). Which marks the final price of the houses. “If you want a quick sale, it is best to market with a price lower than the rest of properties sold in the same area.”
‘The owner did not care about the value of your home, but what someone is willing to pagar’Gil further difference between value and price. “The owner does not care about the real value you can have your house, but what someone is willing to pay for it the price.” And sometimes this is no good either. At this point comes into play other key parameters: the financing. “If someone is willing to pay what is asked and it turns out you do not get a mortgage for that amount, the price is not right.”
Fernando Iglesias, Tecnocasa franchisee in Madrid, said in the same direction as Gil. “Area, type and demand are the three variables that drive the price of an apartment.” Therefore, he says, “the best way to know the value of a home is the comparative method.” A system which makes this street expert is flawed: “90% of the houses with the sign ‘for sale’ has a value marked unreal, a mere expectation.” “Putting a price away from the real causes go back on the market and ultimately be more damaging financially if we consider that the market to adjust. The longer it takes to sell, will be cheaper,” says this expert .
You have to take ‘real references to the area, which are closing the contaminated operaciones’Teniendo into account these market prices, particular Churches advised to take “real references of the area-what are being shut down operations the same type to yours, to know, but the real value of your home, the maximum price at which they can transfer their property. “ This should go to a professional because if you talk to former owners and new buyers will not get reliable data. “First say they have paid less and seconds that have sold for more than they have actually done.”
Laiglesia Ignacio Jimenez, Jimenez Laiglesia director, Strategy and Negotiation of Real Estate, notes that the cost of a home is marked by the bank: “income and loans are the ingredients that determine the reasonable price of the apartments because people do not acquire but acquires a house and pay a mortgage. “ In other words, “an apartment that costs a bank financing.” “Landlords should look to financial institutions when it comes to price your home and see what they are willing to give a potential interested party,” he says.
‘The seller must see the average per capita income in the area where the floor ‘ With this approach, wields his formula: “The seller should analyze the average per capita income in the area where the floor and the size of it. A from average salary to calculate the monthly amount of money the buyer can afford to pay a mortgage to 25 years (20% of their income if it is with precarious work and up to 30% in the case of a couple). In this also result must add 30% to not fund a bank. The sum of both concepts is that it would be a house in their neighborhood. “ Jimenez Laiglesia based his method on a study by Harvard University (USA) where he took a master real estate from 2000 to 2002.
Assuming that no floor is equal to another and in the case of the second hand, Miguel Cordoba, professor of financial economics at the University CEU-San Pablo, distinguish, Gil, first, between the value of housing and its price. “One indicator of fair value is the price of the property in 2000-year-appropriate assessments to date with the consumer price index (CPI) per annum. The result does not necessarily match the price-discount-area, which 20% would probably be higher, “said Cordoba.
‘The’ bubble ‘has broken the stereotype that it suben’Por always floors, this economist opts to combine both variables. “The seller should set a price somewhere between that obtained from the calculation of the CPI and the offer price in the area. This amount would be the starting point for negotiation and, from there it all depends on the pressure and some and the resistance of the other. “ Cordova believes, in this sense that “one of the problems the market has become in bilateral contacts, is that people have always heard that story always go up.” “This, not so, nor will be in the future.” Bubble “has broken down the issue.” A final direct message to both sellers and buyers.?
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