What’s My House Worth
The most common question we hear is "What's My House Worth?" So.. we offer a very simple way to find the value of your home.
Please remember, the instant online home valuations found on other websites are not considered to be reliable. Requesting a personalized valuation is highly encouraged.
When it's time to sell your house and you want the most accurate home value possible. Nothing is better than a personalized home evaluation with us. Call us at 661-713-4799 or simply complete the form.
Whatever a Buyer is Willing to Pay
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. You can find these online calculators on other real estate websites but due to their inaccuracies, we no longer offer this method.
- Obtain an In-home Home Valuation By Your Realtor: This 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. The result is more accurate than online comparisons and provides an opinion of the value.
- 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.
It's About More than Just Dollars
If thinking about selling it's important to base your 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
Let's imagine you received an online valuation totaling $575,000. Based on that amount, you made a decision to sell your home and listed it for $575K. What happens later, after you discover the highest and best offer you received was only $540,000? Are you prepared to receive $35,000 LESS than you thought?
This example is NOT far fetched and we've seen it happen. There are some who are so sure of their property value, only to find out later they were wrong. This is why we insist our home selling clients let us find out what their house is worth, before making a decision listing their home for sale.
CAUTION: Avoid choosing a realtor based solely on value he or she says your house is worth. Yes, we're sorry to report, there are some agents out there who will tell you your home is valued higher than it is, just to get your business. Remember, if it sounds too good to be true, it probably is!
Try Not to Over Value Your Home
As long time realtors we can tell you, 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.
You can always refer back to these home selling tips and consider everything before making a full determination. Remember, an incorrect valuation can come back to haunt you, and maybe even kill your deal!
We strongly urge you to prepare yourself to face the simple reality of your home's true value and treat your home sale like a business. We know it’s a balancing act but we can help make the process easier.