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Why is a home valuation important?
Home valuations (also known as) current market value, is the amount of money your house would likely sell for if it went on the market today. This is important to know when pricing your home. It is imperative! I repeat imperative that you list your home for the right price THE FIRST TIME you put it on the market. I understand that people sometimes have emotional attachments to their homes. But it is most important to be what I like to say “squared away” when listing your home for the first time. It can also help you determine if you should make some minor repairs or updates to your home prior to putting it on the market. I may request that you speak with an interior designer to help arrange or re arrange the property in your home to create more space. There are also many other ways that we can set things up like possibly having your home vacant if we purchased another one together or even having a stager come into the home to give their expert opinion on staging items, Since your home is such a major financial asset, it’s important to make informed decisions when you’re getting ready to sell.
Want to know how we calculate your homes estimated value?
Remember our estimated value is not an appraisal. Your home’s value is actually estimated based on sales price data gathered from public records in the multiple listing service. It is not based on a licensed appraisal of your home. Estimated value can vary depending on location, current market conditions, data availability in a given area, and other factors.
It is also important to understand the accuracy of the valuation requests. While the Property Report is a great way to get an idea of what your home might be worth, it is meant as a starting point and does not replace an actual comparable market analysis from Mike Zorbach your real estate agent. Obtaining a professional appraisal or requesting a Comparative Market Analysis from me is essential to the sale of your home. Give us a call today!
Should I Get An Appraisal Of My House?
An appraisal is always required for a buyer to qualify for a mortgage. So when listing your house if you have it listed too high because you are emotionally attached to your home, we WILL get a contract on the house, but then you will be stuck in the end making a decision for a lower price or re-listing your home and waiting potentially another three months for a sale! As a seller, there is value in getting an appraisal because it can give you a firm idea of what your house is worth and provide assurance to a prospective buyer. However, since appraisals typically cost a few hundred dollars it is wise to trust your real estate agent Mike Zorbach.
If you don’t price your home right as I stated in the beginning your home appraisal and evaluation can change over time. Waiting too long and being emotionally attached to your home can be devastating to your home sale you must trust me as your realtor. Changes in the market itself are a major contributing factors to a fluctuation in home value. As demand goes up, prices typically go up, and vice versa. Changes in the economy, job market, interest rates and all of these things that influence home value are well beyond your control. But there are some things you can do to help your home’s chances of appreciation over time, like making smart upgrades and strategic renovations.