So, you are getting ready to sell your home, but you are unsure of your property’s actual value. How does one accurately evaluate home or property market value? What tools are best for market evaluation?
If you find yourself asking, “What is my home actually worth?” then you should consider trying one of the methods below to receive an accurate estimate. Knowing the market value of your property is so helpful when approaching selling time, and it also provides an interesting insight into your financial assets.
Consult with a Local Realtor Professional
Your local real estate professional should have a strong understanding of the market you will be selling in. They are the ones who have experience selling homes in your area and who’s job it is to price your home accurately compared with the local market value to ensure a quick sale. It is also a good idea to consult with multiple realtors for a more comprehensive value estimate.
Hire an Appraiser
An appraiser is different from a realtor in the sense that their sole job is to appraise your property and provide an accurate market value estimate. A professional appraiser should have a good track record, feel trustworthy, and have data to back up their claims. Besides estimating the value of your home, an appraiser can determine the market value of your local market as a whole, the land your home sits on, and other similar properties in your neighborhood or city. You might even want to get an appraisal on all of the above to create a complete and polished market value report.
Research Recently Sold Properties in Your Area
The internet is where most homeowners go to first for a do-it-yourself tool to save time and get a rough estimate. Many of the online valuation tools you find through a quick Google search are very accurate. Zillow and the Federal Housing Financing Agency both provide an excellent estimator tool. Every estimation tool on the internet uses a unique algorithm to provide a market value, so use multiple tools to get a more accurate and comprehensive idea. When browsing online, look for recently sold properties that are similar in size, location, aesthetic, condition, and modernity. You should pay special attention to similar properties (size, age, style and condition) that have sold in the past 6 months and that are also located within a half mile of your property’s location.
The fastest and easiest way to sell your home is to call Tropical Homebuyers. Our team of professional home investors will provide an accurate appraisal of your home for purchasing it in as-is condition.
Tropical Homebuyers will pay all your standard Escrow Costs and fees, and we charge NO agent commissions which means more money in your pocket and a much faster turnaround time!! Give us a call at (323) 580-6881 to get a fair and accurate property estimate and sell your California home fast!