Tuesday, May 20, 2014

Can You Establish Your Home's Value Based on How Much You Paid for It?


Can you establish you home's value based on how much you paid for it?

No.

If you paid only $70,000 for your home in 1976, your home certainly is worth much more today.

Conversely, if you paid $200,000 for your home two years ago and:
  • The local market has deteriorated
  • The largest employer in the area has closed the plant
  • Mortgage interest rates have doubled
  • And a toxic waste dump has opened next door...
Well, you get the picture. Your home may only be worth $170,000 today.


Terez B. Harris
Keller Williams Realty New Orleans
504 975 1033
TerezHarris@KW.com
TerezSellsNolaHomes.com
8601 Leake Ave., New Orleans, La 70118

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Terez B. Harris  Terez Harris NOLA Real Estate Group  504-297-2619  www.TerezHarris.com
Keller Williams Realty New Orleans 8601 Leake Ave. New Orleans, LA 70118 504-862-0100
Each office independently owned and operated. All brokers and agents licensed in the state of Louisiana.

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