What Is My House Worth?

Automated valuation systems are oftentimes what people rely on to get a sense of the value of their home. Think Zillow “zestimate” or similar products. The problem with such products is that they rely on algorithms, not actual human analysis. An excellent way for you to find the value of your home is to have an experienced real estate agent visit your home in person and provide you with comps after the visit. The visit will allow them to view your home, soak it in, and then go back to their office and run comps based on what they saw and felt in person. Running comps is as much of an art as it is a science and good agents will analyze not only what similar homes in the area are selling for, but how they think potential buyers will emotionally respond to your home. After all, buying a home is a mix of logic and emotion for buyers and the emotional quotient is something that automated valuation systems cannot account for. Ultimately, the VERY best way to see what your house is worth is to list it on the open market and see what a buyer is willing to pay for it.    

The value of a house can be influenced by many factors, including:

1. Location: The desirability of the neighborhood, proximity to schools, public transportation, shopping centers, and amenities can all impact the value of your house.
2. Size and layout: The square footage and number of bedrooms and bathrooms can affect the value of your home. Additionally, the layout and flow of the house can also impact its value.
3. Condition: The overall condition of your house, including the age of the roof, HVAC system, and appliances, as well as any necessary repairs or updates, can affect its value.
4. Upgrades and amenities: Upgrades such as new flooring, countertops, and appliances, as well as amenities like a pool, a home theater, or a finished basement, can all impact the value of your house.
5. Recent sales of comparable properties: The recent sale prices of similar homes in your area can provide insight into the current market value of your house.

Overall, determining the value of a house is a complex process that requires careful consideration of all these factors and more. It’s always best to consult with a real estate professional or appraiser for an accurate estimate of your home’s value.

Contact us today for your FREE Comparitive Market Analysis (CMA)