Confused About Your Home’s Value? Find Out With These 3 Ways
Estimated reading time: 3 minutes
Short of an actual appraisal, the estimated value of a home can be determined by various methods. It can vary dramatically based on several market factors, such as interest rates, the number of homes on the market, and buyer demand. How do you price your home with all those variables?
Your home specifics, such as location, size, style, and neighborhood, play a large part in the overall estimate of your home. As a professional real estate agent, one of my jobs is to keep abreast of these factors and provide a more accurate estimate for you. My website can automatically provide some information, but here are 3 different ways to arrive at a price:
- AUTOMATED HOME PRICE VALUATION
Also known as an AVM (Automated Valuation Method), this method gives two different independent estimates of a property’s value using statistical models and aggregated nationwide data.
To receive your free, no-obligation estimate of your home’s value, go to my website, then click the “Sell” or “Selling” > Instant Home Valuation” link at the top of the page to find the Instant Home Valuation. When it opens, enter your home address and phone number. Once entered, you will be able to view the two different values. In addition, you will see a few other nearby properties on the market similar to the property for which you entered the address. This may help you compare your value to other similar properties.
- DETAILED MARKET REPORT
My website will also provide a better understanding of a specific market area, including properties for sale in that area, demographics, average sale prices, and more. To receive a free Market Report, click “Search” on my website, then the “Complimentary Market Report” button at the center top of the map. Enter the area of interest, and you will receive more information about that area.
- COMPARATIVE MARKET ANALYSIS
While the first two methods are quick and easy, they only provide a general estimate of value. To get a more accurate estimate for an individual property using other market conditions such as specific neighborhood demand, desired school districts, and more, I would suggest requesting a Comparative Market Analysis (CMA). In a CMA, I will use MLS data on current and recently sold properties, square footage, age, and other essential factors of your home, then combine that with market conditions and property demand to give you a more accurate estimate of what your home might bring in today’s market.
To help you better understand why a CMA is so important, please read “How a CMA Can Make You Money On the Sale of Your Home“. With a CMA, I am confident I can help you arrive at a price that’s appealing to today’s buyers while maximizing your sale price. To receive your complimentary CMA, please request it by emailing your property address to my email address in the contact information above or by sending me a text.
Regardless of which home valuation method is used, the ultimate indicator of a home’s value will be determined by potential buyers and their offer(s). The more a property appeals to a buyer, the higher that value is. Not only can I provide you with a home value estimate using established methods and standards, but I can also give you tips and suggestions on increasing your home’s appeal. Just ask me how!