What is My Omaha Home Worth?
Sellers often arrive at a price for their home by considering many different values. Some look at what they paid for the home and figure it should have appreciated by a certain amount or should at least be worth the price they paid. The mortgage balance is the key number others look at as they have to break even or walk away with a given amount of money. For some the tax assessed value is gospel, if Douglas or Sarpy county says it is worth this amount then it must be, after all the government never makes mistakes, right? Some sellers who recently had their homes appraised when they refinanced figure that this must be the right price.
So what does it mean when a seller prices their home by one of the above methods and it doesn't sell? Simple, the price is too high. None of the above figures have anything to do with what a home will sell for. The only value that matters is market value. This is the price that a buyer is willing to pay and a seller is willing to accept. If no buyer is willing to pay what a seller is asking for, then the seller has two options: 1. Reduce the price to what buyers are willing to pay, or 2. Keep the home. It's that simple.
