by Josep Maria Reichardt Do you have a home in Móstoles and are you thinking of selling it? It is not another decision in your life. It is one of capital importance and it is essential to execute it optimally. You must bear in mind that if you are going to buy a new home, what you get for the one you have sold will condition the value of the new one, or force you to go into debt. That is why you should rely on the services of a trained professional for the real estate valuation: MENDESALLES, a different real estate agency in Móstoles that offers you home appraisal and appraisal services.
What factors are involved in the appraisal and valuation of homes?
The final price of a home depends on different factors.
- Location,
- State of conservation
- Square meter
- Neighborhood or environment, etc.
The expert professional in property valuation will take them all into account. The final result of your analysis will be a valuation in accordance with the market and with the current state of the home. Taking all this into account, you will have a real reference that will allow you to make an appropriate decision about buying or selling this property.
The real estate market in Móstoles and throughout Spain is being subjected to fluctuations due, still, to the crisis of the subprime of 2008. This crisis has been partially concealed by the huge amounts of money that the European Central Bank (ECB) has injected into our economies, first to alleviate the effects of the COVID-19 pandemic, and then for those of the war in Ukraine.
But when huge amounts of money are injected into a financial system, if they are not accompanied by the creation of equivalent wealth, what is created is inflation. Inflation, once out of control, as is happening at the moment, becomes entrenched and it is very difficult to control it again. In fact, the only instrument that the European Central Bank has to curb inflation is the rise in interest rates.
When interest rates rise, people who were considering buying a property should rethink it because they may not be able to afford the mortgage loan installments now. In other words, there will be an increase in the supply of real estate that is for sale due to a retraction in demand. On the other hand, people who are already mortgaged at a variable interest rate may not be able to continue paying the new installments and should consider selling the property, that is, a new increase in the supply of real estate, in this case by increase in supply.
If you are considering buying or selling a property, you should resort to professional services for a home appraisalOnly then will you know if the price they ask you for the property you want to buy is the right one or if the price they offer you for the property you want to sell is a market price.
A professional appraiser allows us to know if the price is adjusted to the reality of the market. In fact, banks are governed by the appraisal price of the home to determine the amount that they are going to grant as a mortgage. Therefore, an official appraisal is essential when we embark on the purchase of a home. The home appraisal is an official reference that will allow us to be sure of paying a fair price for the property we want to acquire. The MENDESALLES real estate team will offer you the appraisal of the home you want to buy so that you get the real value of the property. In this way you will know that the price is adjusted to its market value and you will not be surprised when you ask for the mortgage from the bank.
