Figuring out the perfect pricing for any Herndon home for sale would be easier if there were a way to confirm past instances that hit that mark precisely. But that can’t be done. It’s the nature of the beast: it’s simply not possible. Even if a comparable Herndon home’s asking price resulted in being sold immediately at that exact amount, it only could have been priced perfectly. We can’t know that it wasn’t priced too low.
Even if the pricing on some Herndon home was quickly met and even exceeded—IOW, it resulted in a bidding —that might be evidence that it had been originally priced too low. Even that isn’t certain because the supposed underpricing resulted in a sale that was higher than expected, which is a perfect result. So perhaps that was the perfect pricing. You see the ambiguity.
So if you can’t ever determine what constitutes perfection in pricing—even after the books are closed on a given sale—then there is no way to guarantee a number will result in the maximum outcome. That’s why the whole issue of pricing any Herndon home is forever going to be an art (with as much science thrown in as possible). That being the case, getting the “science” part right is pretty important.
When it comes to pricing Herndon homes, it stands to reason that the mortgage lending industry would have put maximum effort into determining the most predictive residential real estate values: in other words, any Herndon home’s most realistic pricing. A week ago, one of the nation’s largest mortgage lenders offered their advice to homeowners. They acknowledged that while “we’re on an upward swing” in property values in general, it’s still important to get “a very accurate estimate of home value” to attract multiple buyers and avoid surprises during the sale process. Their three steps to discovering that:
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