What’s My House Worth?
The most common question we hear is “What’s My House Worth?” As a result we offer a simple way to find the value of your home with our FREE, personalized home valuation.
Complete the Form to Receive Your Personalized Home Valuation
We will make every effort to send you a personalized Comparative Market Analysis in 1 – 3 business days. The property being evaluated must be located within a 90 mile radius of Santa Clarita.
CAUTION: The instant online home valuations found on other websites are not considered to be reliable. In fact, Zillow recently discontinued their inaccurate Zestimates and admitted they were “just guessing! ” Of course, we have always warned consumers not to trust Zillow or any other online instant valuation. Just sayin!
What is the True Value of Your Home?
The true worth of your house is whatever a buyer is willing to pay. There is no manufactures suggested retail price as we find in a retail establishment. Have a look at the following methods used for home values?
- Use an Online Instant DIY Home Value Calculator: This is the most inaccurate method to determine your home’s value.
- Obtain a Home Valuation from Your Realtor: Obtaining a Comparative Market Analysis is much more accurate because we can base our opinion on recent sales of comparable homes AND the visual look and feel of your house.
- Property Appraisal: This is an appraisal done by a professional property appraiser and usually hired by your buyer’s lender to verify the value of your home. Usually, there’s no reason to spend money on an appraiser in advance.
It’s About More than Just Dollars
When selling it’s important to base your pricing decision on more than just a quick estimate. Start by answering the following questions:
- What is the status of the current real estate market?
- How long is it taking for similar homes to sell and close escrow?
- What are the lending rate projections?
- How many homes are currently on the market in your community and neighborhood?
- Is it a buyers or sellers market?
- What is the status of your home’s repair and is it worth making repairs?
- Since you purchased the house have you had any major home improvements or upgrades?
Example of Inaccurate Home Value
Imagine receiving an online valuation of $875,000 and deciding to list your home at that price. But what happens if the best offer you receive is only $835,000? Would you be ready to accept $40,000 less than you anticipated?
This scenario is far from uncommon. Many homeowners feel confident in their property’s value, only to discover later they were mistaken. That’s why we strongly recommend that our home-selling clients let us determine an accurate valuation before making any decisions about listing their home.
CAUTION: Don’t choose a realtor based solely on the price they claim your home is worth. Unfortunately, some agents may inflate their estimate just to win your business. If it sounds too good to be true, it probably is!
Try Not to Over Value Your Home
Yes, some homeowners OVER VALUE their homes. Even for realtors, we all like to think our houses are worth MORE than they really are. Again, depending on the market it’s sometimes advisable to be conservative with the valuation. In a sellers market, if buyers are attracted to your home, chances are you’ll receive offers over market anyway. It makes no sense to scare off possible qualified buyers with an inflated listing price.
When considering how much you can sell your house for, use caution and don’t let your emotions get in the way of making a sound business decision.You can always refer back to these home selling tips before making a full determination. Just remember, an incorrect valuation can come back to haunt you, and maybe even kill your deal!
IMPORTANT NOTE: If a buyer submits an offer significantly above a home’s market value, most sellers would see that as great news! However, it’s important to remember that if the buyer has limited cash for a down payment and the lender’s appraisal comes in low, the buyer will need to cover the difference in cash. This situation often leads to deals falling through. To avoid this, it’s wise to confirm the buyer has sufficient funds to handle a potential low appraisal before accepting their offer.
We hope you found this information helpful and please feel free to contact us directly with your questions.
Schedule a Listing Appointment With Local Realtors, Matt & Meray Gregory
[email protected]
We are committed to helping those we represent make accurate and informed decisions. We handle all types of transactions and we’re ready to help you, today.
Your Local REALTORS®
DRE# 01463326
DRE# 01831112