Selling your Home

---

 Consider Recently Sold Properties. Check Out Comparable Properties on the Market. Look at Unsold Comparables. Learn About Market Conditions.  Ask Your Real Estate Agent. Ask Yourself: Does the Price Feel Fair?

Buying or selling a home? Navigating the various values attached to it can be confusing. This guide breaks down the differences between market value, appraised value, and assessed value:

Market Value:

• What it is: The price buyers are willing to pay, is influenced by the property's features, comparable sales, and current market trends.
• When to use it: For initial pricing estimates (Zillow Zestimate, CMA by a realtor).
• Remember: It's not official and should be used as a starting point.

Appraised Value:

• What it is: An objective assessment by a licensed appraiser, ordered by lenders to ensure the loan amount doesn't exceed the home's worth.
• When to use it: For securing a mortgage.
• Factors affecting it: Location, age, materials, curb appeal, recent improvements, market trends.expand_more
• Tip: Boost your value by making strategic repairs or replacements over $500.

Assessed Value:

• What it is: A percentage of the fair market value used by local governments to determine property taxes.expand_more Calculated by the county assessor, not an appraiser.
• When to use it: Estimating escrow and property taxes.
• Remember: It does not directly affect sales and negotiations.
• Tip: If you believe it's inaccurate, check your county's assessment website and contest it if necessary.

Key Takeaways:

• Focus on market value for offers.
• Low appraisals can occur, but solutions exist.
• Challenge your assessed value if needed.

Next Steps:

• Consider pre-approval for a new home loan or refinancing options.
• Contact American Financing's mortgage consultants for expert guidance.

Additional Notes:

• The text has been condensed and restructured for easier reading.
• Unnecessary information (like company promotions) has been removed.
• Headings and bullet points improve clarity.
• I hope this is helpful!

 In Wisconsin, the average realtor commission rate is 4.83% to 6.51%. If you sell a house worth $286,800 — the median home value in Wisconsin — that’s over $10,200, which is a huge chunk of your potential profits. Selling without a real estate agent, known as listing For Sale By Owner (FSBO), is a viable option for experienced home sellers who are willing to put in the time and effort. However, selling FSBO has risks. Research shows that FSBO homes typically sell for about 6% less than those listed with agents AND you'll still usually be on the hook for offering a competitive buyer's agent commission. FSBO homes also often take longer to sell and are more likely to fall out of contract after accepting an offer.

 If you sold your house without a Realtor, you can expect to pay approx. 3 % in fees for things like title transfer, and other fees that are unavoidable. If you use a Real Estate agent, add approx. 6 % in agent fees.

 A normal listing fee in Wisconsin in 2024 is 6 % for a residential property. The listing agent gets 4% and the buyer's agent gets 2 %. The Real Estate agents then need to spit their portion with their office. Normal offices take 40% of the agent's fee. The agent is "self-employed" and pays for all expenses that are incurred in listing your property. They pay for pictures and advertisements.