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BEST WAY TO FIGURE OUT WHAT MY HOUSE IS WORTH?

Posted by Tori Thompson on June 16, 2022
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Home Valuation or CMA? Overlooking these simple tools can be a mistake. Stop missing out on this opportunity. So, what is the best way to figure out what my house it’s worth? 

Maybe you are thinking about selling your home, doing a cash-out refinance, using your property for rental income or one of so many other things. Well, In this blog, I am going to be sharing why getting a valuation truly does provide so much value, even more than just finding out what your home is worth but learning more about what is happening in the market and your local area.

Home valuations or CMA’s

You may see or hear mentions or offers of home valuations or CMA’s from real estate professionals, lenders, or perhaps investors. What is a home valuation or Comparative Market Analysis? A home valuation or CMA are two helpful tools to help you determine the market price of your home. This market has caused many homeowners to have curiosity about their home value, so I thought I’d put this one on the radar for you. These tools are so phenomenal because you get access to information instantly, accessibility is at an all time high.

Home Selling

Online vs. Professional

Many homeowners are searching online for tools to help answer a popular question – what is the best way to figure out what my house is worth? You can easily find tons of stuff online.  Using a trusted professional rather than completely relying on automated tools will ensure the information is tailored to your home, taking into consideration any changes to your property. Your home can have a different square footage, lot size, an amazing view, intricate landscaping, is it facing north or south? Sharing intricate details about your home with your trusted advisor makes a difference. A licensed professional has access to data when completing a property analysis, that is helpful for anyone thinking of selling your home, refinancing, or maybe rental income. Now we partly answered the question, what is the best way to figure out what my house is worth?

Accuracy

An accurate assessment can save time and money. Trust me a pricing strategy is key when looking to sell your home quickly. The goal is always to get more eyes on your home and if you set the wrong price, then it may not get the traffic you’d expect. Notice when searching online for valuation, it is always going to say they have access to the tools that Realtors use. Why not then go directly to your realtor to get a home evaluation report. Reach out to your Realtor and just see where you stand. It’s always a good idea to keep a record the current market statistics along with the value of your home.

Homeowners

Best way to figure out what my house is worth?

I cringe when I hear stories like, oh I’ve checked online and this company says my house Is worth XYZ? But I think it’s worth way more or less. And I’m thinking right away when did they come to see it? What is the condition of the house? Did you go with what information was given to you? The key to a home valuation is accuracy. You want numbers that will help you to make the best decision or provide value. 

Why Use These Tools?

A correct estimation helps sellers market to a large segment of buyers, find out how much equity is available to you, you can also check what your pay-off looks like and so much more. Again the key is always accuracy. Accuracy will help you see the big picture. Using the correct resources will truly be the best way to figure out your property value. If you’re ready to see some historical data and gain more information regarding your property, let’s talk, contact me ASAP.

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