Gaining a Home Valuation is a fundamental part of selling or buying. Naturally the buyers will want to receive a low valuation and sellers the exact opposite. As both parties approach the negotiation phase, it is important to have an unbiased valuation of the property to make sure that no party is particularly favoured. This will help both buyer and seller to achieve common ground.Ultimately a property is only worth what someone is willing to pay for it. A valuation however is still important, if only used to gain a ball park figure. A Home Valuation, whether carried out by an estate agent, a surveyor or by using an AVM (automatic valuation model) is only an estimate, it can be never be considered one hundred percent accurate due to the guesswork involved when arriving at a figure.All three, the agent, surveyor and AVM include the same processes when undertaking a Home Valuation. If the task is performed well and effectively an accurate estimate can be made, although once again it is only a rough guide as the willingness of a buyer to pay the price is the determining factor. The process is fundamentally a combination of art and science. A figure will always be arrived at after considering the following elements.Property condition is the primary factor in a valuation, if your property is of poor quality and literally falling apart at the seams, the estimate will most likely reflect this. In addition to the condition, upgrades or extensions will also be taken into account when estimating a price; the quality of the work and usability of extensions will also be considered. After these two finite qualities the art part of valuating comes into play; this is fundamentally factoring the current market conditions and the conditions of the sale. Overall these four primary factors to a valuation must recognise that all properties are unique so using a generic method may in some cases be inaccurate.
Friday, September 25, 2009
100nests.com: A Property Valuation Never One Hundred Percent Accurate
100nests: Riding on the changing landscape of Indian homes
Indian homes today fall behind the average world homes amongst developed countries in terms of what one can achieve from and within home. Even the usage of homes is mere functional than typically a lifestyle or a luxury, though the market is seeing a shift in the same in recent times where homes are treated as lifestyle element. This shift is offering a great market opportunity to cater to home knowledge, home needs, what’s around home and even neighborhood around the homes in terms of people around, facilities, what’s in vicinity and more. 100nests.com addresses this demand in Indian continent, with the market poised to grow 4X they have seeded to ensure they have strong foundation to take on developed Indian market in next few years.Though there are many portals around local information are mushrooming in the subcontinent distribution of this data is what would win the race assuming the reach of the online media is not assured and spread all across. Portals like 100nests try to make this shift where the local information is served implicitly almost like a up sell and cross sell while the user is inside his virtual home. This ensures the sure gets the information in the contest of his need, ensuing the vicinity and recency aspect of the data. Another interesting factor is the UGC around your home, many times what you like is typically what your neighbors have used or recommended than someone far away. With Indian homes poised to consume 4X of what they consume today in next few years which is among the top most compared to developed homes it also serves an opportunity for various businesses targeting home, home needs and services around the same where one can grow from small to large with the market just starting to shoot up. Personal and home products is already seeing a larger growth which is even backed by the media industry spending more than 50% of total yearly spends reaching homes serving various brands and products.Overall an economy to be part of and to be on look out for products like 100nests.com, focus of online and media players in the online space, some new international real estate players entering in the markets.