Vancouver Real Estate – I’ll Show You Mine If…
Posted March 7th, 2009 in Real Estate, Sharing the Experience | 
You Are Different
It starts the day you are conceived. You will be compared by others to others and you in turn, will compare them.
The fun begins when we begin to compare home values.
You’re Home is Special
The balance shifts when homeowners weigh the difference in value between their home and others. Owners often skew a comparison. Not to cast dispersions, it is thought to be a function of bias. It is after all, your home. That alone makes it special!
Finding Balance
Realtors® are supposed to be free of bias. We don’t feel special about much, but we do compare a lot. Our stock in trade is to determine a home’s value dispassionately. We accomplish this in part by seeing a great number of homes. This task itself, brings intimate knowledge of many properties and so maintains our currency with market tempo and true market values. It is with rare exception, that we are inaccurate in finding that delicate balance which is a homes value at market.
Really! Let’s Find Out
HomeGain a US real estate organization, commissioned a survey that quantifies Realtor® thoughts on home prices in the U.S. This survey determines the difference between what owners believe their properties are worth versus the values a real estate practitioner believes that value to be.
The home value numbers in these graphs will at least for now, not be reflective of prices in Canada. The point of this exercise, is not to question the respective values of homes in either country. Rather, it is to understand the perception of a homes value when determined by a Real estate practitioner and that offered by a home owner.
* The following are Nation wide results from the survey.
1. On average, in the last year do you think your homeowner clients home values have:
2. On average, what do your homeowner clients believe that their home is worth?
3. How do your homebuyer clients feel homes are priced?
4. In the next six months, do you think the values of homes in your market will:
You Decide
As noted the survey questioned Realtor’s® perceptions of market conditions and home values. Is it balanced? For now it remains an organized collection of opinions from Realtors®.
Needed is a homeowners response to similar questions. Then we will be able to compare.
I’m always happy to answer your Vancouver Real Estate questions.
Larry
Call or send me an email Twitter or Skype me: – YatterMatters.
*Survey and graphics courtesy of HomeGain. Full Survey results by Louis Cammarosano here.
