What's My Incline Village Home Value?
This page discusses the various ways you, as a homeowner, can understand and know your home’s market value.
It also discusses the benefits and drawbacks of each tool or system which are available for real estate in Incline Village.
In doing so, I wanted to prove that none of the online home value estimators available can give an accurate and reliable estimate of your home value.
Why Should You Care About the Home Values in Your Neighborhood?
What's My Incline Village home value?It is always a good idea to keep track of your Incline Village home value.
Checking the value of your Incline Village home is easy and simple! Just send your address and a little information about your home in Incline Village and you will receive an estimated current value from a local expert in the Incline Village homes area!
Come back each quarter to this Incline Village home value page to keep yourself informed on Incline Village home values.
Knowing your Incline Village home value is a great resource and allows you easy access to the home prices in Incline Village.
What’s the Best Way to Find My Incline Village Home’s Value?
Pricing your home correctly is the key to a successful offer.
Perhaps you are planning to move to a different state because of career advancement and would need to know your home’s equity before you put up your Incline Village’s home for sale.
Like many homeowners, you are probably wondering what the current worth of your home is. So, how would you know?
One of the popular ways is by getting a free evaluation online.
The internet has numerous sites that offer free personalized estimates of your home. These sites are what are known as home value estimators.
A lot of the big box branded websites offer this service to you in return for your email address.
Incline Village homeowners: Make sure you know your home's market value before selling!
I would like to share with you why I think these sites are not the best way to assess your home’s worth.
Curiosity is going to get the best of you so go ahead and see what the instant evaluators say about your home's current market value here in Incline Village.
Be forewarned, to not depend on the outcome:). You can certainly use this estimate as a very loose estimate. But don't get your hopes raised up if the value comes back higher than what the other homes in your area have sold for.
- Accuracy: the online valuation tools are NOT accurate
- The valuation tools can not see your house
- They don't know about your home improvements
Accuracy: the online valuation tools can not be totally accurate
There is no denying that internet and computers are amazing inventions, but there are still some things they cannot do or produce accurately, and assessing your home’s value is one of them.
To come up with your home’s value, computers use data gathered from the public, and they also gather up what your tax collector has for the current properties that have sold in your neighborhood.
Living here in Incline Village I can tell you that we don't have a bunch of cookie cutter houses in rows like they do in suburbia. It is much harder to use instant home value websites for custom homes and different sized land parcels.
We look at a lot more than tax information and past sold homes.
These sites admit that what they provide are estimates, mere starting points in order to determine a home’s value.
A popular real estate site that also offers online home evaluations states that the accuracy of their estimate depends highly on the availability of data and location.
It means that the worth you get when you try using one of these online sites to appraise your home’s value may or may not be close to the real value.
And it also means that you should NOT take the content of the email you receive from any of these sites as the actual market value of your home.
The Valuation Tools Can NOT See Your House!
Your remodeling and upgrades may add value to your home.
When you use an online home value evaluator, have you thought of the fact that they cannot see your house?
How can anyone, or anything for that matter, provide an accurate worth for something they have not even seen?
Although there are public documents that can be pulled up that provides data about your home, it still would not be enough.
Because they cannot see your house, they do not know the updates you have made in the kitchen area.
Because they can not see your house, they are not aware of the new deck you just build outside of the back of your house.
There are so many things in your home that could be disregarded simply because it is a computer that appraised the home’s value, and it was done so without visiting your home for sale in Incline Village.
They Don't Know About Your Home Improvements!
Computers have no way of checking the recent upgrades you have done in the kitchen of your home for sale in Incline Village. Nor will it acknowledge the other upgrades you did in the master’s bathroom.
And because it does not have access to your home’s interior upgrades, the online home value evaluator will not reflect the improvements you have made, making it highly inaccurate.
These are some of the reasons why I think online home evaluators do not provide reliable home appraisals.
How Much Can I Sell My House For?
The most significant element in the sale of your home is pricing it correctly.
It is essential that you give it the right price, based on the market value of your home; how much is a buyer willing to pay for your property?
You may have heard of homes that are relatively new, with excellent amenities and good curb appeal but do not sell. In such cases, those homes are likely overpriced, a big no-no is today’s competitive market.
To avoid that mistake, you need to know what the various factors are at play when selling your home.
And you need the advice of an expert real estate agent like me, Peg Augustus, for you to have the right information and guidance in pricing your home.
So what are the factors you should look into when considering the price of your homes?
Well, the first factor you would need to look at is the list of comparables in your neighborhood. These comparables are homes that are recently sold in your area that bear a resemblance to your home. It can give you an idea of the general price range of your home in the marketplace.
Market condition is another factor at play in pricing your home. The location of your home plus the market trend in that area can tell you whether you should price up or down. If you overprice your home in a place where price is declining, you may never sell your home.
Another way to determine the price of your home is through the comparative market analysis (CMA) from me. It contains a detailed market statistics, active and sold comparables, and may even include adjustments that your home offers.
Selling a home should be based on data, not on heartstrings.
And ask yourself these questions so you can come up with a reasonable price, one acceptable to you and fair to the buyer.
- Have you upgraded your kitchen?
The kitchen is the heart of the home. Thus, many buyers want it to be as efficient as possible.
Upgrading the kitchen need not mean installing granite countertops and stainless steel appliances.
A newly painted kitchen and energy efficient appliances can have a significant effect in pricing your home.
- Have you added or remodeled a bathroom?
Remodeling an outdated bathroom can have a weighty impact on your home’s price.
An additional bathroom does not have to be expensive, and what is more, you can recoup up to 80% of your expenses.
- Have you remodeled your home?
You may think of renovating the home as a major work, but sometimes minor remodels that would work almost as effectively as the big ones.
Adding a kitchen island, replacing the garage door, opening up the living room by knocking out a wall, or improving your basement space are some examples of minor home remodels that can still affect the value of your home.
- Have you improved your landscape?
Never underestimate the power of curb appeal.
Buyers love homes with a beautiful landscape, and since it is the first thing they see when they approach your home, it makes sense to improve it for it can determine whether a buyer would be interested or not.
What are Houses Like Mine in Incline Village NV Selling for?
Would you like to know how much homes like yours in Incline Village sell for? As a homeowner, you probably wonder how your home worth fares compared to other homes, especially if you are planning to sell your home.
Price plays such a crucial step in the success of selling your home. When you over price, it can be difficult to sell because buyers may lose interest. Under pricing means leaving money on the table.
To determine how much your home is worth on its own and to compare it to similar homes for sale in Incline Village, you have probably started compiling the prices of homes in your area.
But if you want an in-depth comparative report, you need the help of the best Incline Village real estate agent, me - Peg Augustus. I can give you a comparative market analysis report which can help you learn how much other similar homes in your area are worth, thereby pricing your home better.
A comparative market analysis (CMA) report is an evaluation of comparables or homes in your area that are recently sold.
Aside from the sold listings, a CMA also contains active listings of other Incline Village homes for sale.
In other words, your competition!
Looking at how much other similar homes in your area are worth, you can have an idea of the home price you will set, especially if you want to sell your home fast.
Homes that are under contract but have not closed yet are also included in the CMA.
CMA reports can be either brief or extensive, and it depends on the real estate agent who prepared it.
In any case, I think that having a CMA on hand is helpful because it also allows you to see the upgrades and renovations on other homes for sale in your area. In turn, you can make the similar upgrades so that your home’s value do not get deducted.
Before you proceed with the plan to sell your home, would you like to know what is happening in Incline Village real estate market?
Here’s a chart that shows the current market trend of homes for sale in Incline Village.
This chart reflects the market report of Incline Village for February 2017.
In February, there were 143 active listings of homes, condos and townhomes, but only 106 of this listing are homes and townhomes. Only 23 homes are under the one million mark, with the rest scattered between one million and above. The highest number of homes are concentrated on the two million mark.
But if you look closely, you’ll notice there are more homes sold under the two million mark.
But don't think this smaller percentage compared to 2016 is a slow start. It is a solid opening to this year.
2016 just happened to be an extra excellent year for real estate.
Spring is just around the corner, which will be followed by summer and with its coming, expect more home sellers and buyers.
Who knows, your Incline Village home for sale may be the first one to sell.
What do I ask a Real Estate Agent in Incline Village NV about Listing my Home for Sale?
Are you planning to sell your Incline Village NV home?
Putting your home up on the market is not an easy decision.
Your Incline Village home may be your biggest investment so far, and along with your emotional attachment to it, can be difficult to let go. When you have to move for career advancement or personal reasons, it is time to put your Incline Village NV home for sale.
To facilitate the selling process, you need the help of a real estate agent. Having professional assistance can make things easier and less stressful for you. REALTORS® like me can also help you get a better deal.
But you have remember that real estate agents are not all the same. I have seen many home sellers make the mistake of listing with the first real estate agent they meet, without giving much thought to the skills and experience of the agent.
Finding a real estate agent to list with takes more than just relying on appearance and a gut feeling.
Unlike other services you engage in, some legwork and research on your part is necessary to find the best real estate agent.
To better evaluate a real estate agent, you need to ask questions on how she will sell your Incline Village home.
The responses to your questions can help you determine whether you will list with that agent or seek for the assistance of another.
Here are some questions you should be asking your real estate agent.
1. How experienced are you in selling residential homes? It is okay to ask an agent her length of experience in selling homes.
You are looking for an experienced agent who will list your Incline Village home for sale. You also want a real estate agent who is working on their business full time.
2. What is your marketing plan to sell my home?
You want someone who can give you a solid marketing plan on how to sell your Incline Village home.
Some tactics experienced real estate agents use include:
- Putting your home on the MLS
- Holding open houses
- Taking professional photos and videos of your home for advertising and printing flyers to draw potential buyers.
Experienced and well-connected REALTORs® like me can find potential buyers through our vast network of buyers and other agents.
3. What online marketing strategy do you employ?
Your real estate agent should have a good online marketing strategy. She should be using social media tools like Facebook, Pinterest and Instagram to create advertisements about your home.
A good REALTOR® should have a strong online presence. Google her name. If she shows up with her website, review sites, blogging sites etc, then you can be confident she will do the same for your property in Incline Village.
4. What are my home’s drawbacks?
You need to know your home’s flaws based on the perspective of someone who has been working in real estate for a long time. The answer you will receive can help you overcome your home’s flaws and sell your property successfully.
A good real estate agent will provide renovating or staging tips, so you can increase your selling price.
5. Can I read and study the documents I need to sign beforehand?
An experienced real estate agent will make available all the documents you need to sign beforehand so you can have sufficient time to read and review it. Included in these documents are the Agency Disclosure, the Listing Agreement and the Seller Disclosures.
Asking these questions to the best Incline Village real estate agent can help sell your Incline Village home successfully.
Should I Buy a Home Appraisal BEFORE I Put My Home on the Market?
Selling your Incline Village home can be a challenging and stressful experience, especially when it comes to pricing the home.
Price your home too high and it will not attract buyers. Price it too low and you’ll end up losing a good deal.
Since price is the ultimate deciding factor on whether your home will be sellable or not, you want to ensure you have the accurate price.
Coming up with your home’s list price means conferring with your real estate agent to come up with your Incline Village home’s list price.
Sometimes, you may find the asking price lower than what you expect. In such a situation, you may find yourself seeking for a second opinion from another real estate agent, who may give you a different asking price.
Sometimes the price difference can be drastic, which can be confusing.
To avoid this scenario, many homeowners think it is better to hire a real estate appraiser to have an appraisal.
What is a home appraisal and who conducts it?
A home appraisal is an unbiased estimate of your Incline Village home for sale’s market value. It is done by a state licensed Appraiser. He or she uses past sold homes along with other criteria to come up with the value of your home.
Long years of experience, continuous training and numerous tests are required to be a professional appraiser.
A professional appraiser reports his findings and evaluations in written form and you will be charged with a fee.
Do you need a home appraisal?
I don’t normally recommend it.
Why? Here are three reasons why you don’t need a home appraisal before your home is under contract to purchase.
- You can get a home valuation from your real estate agent for free.
If you are after your home’s market value, you can simply request one from your real estate agent. Appraisers and real estate agents use the same tools and data - CMA, MLS, and tax records in accessing and evaluating your home’s worth.
Sometimes, agents assess the home’s value better because they have a more extensive real estate knowledge of the neighborhood, and may have even visited the “comparables”.
- Remember - there is no perfect objective valuation.
Some home sellers consider a home appraisal as an objective way to price their homes, because they do not agree with the agent’s list price.
The appraiser will assess the value of the property based on their ‘expert opinion’, but different appraisers have different ideas when it comes to value.
If you hire two appraisers you will get two different prices.
The truth is, it is the market and the buyer, who will determine how much your Incline Village home for sale is worth.
- Buyers prefer their own appraisals over the sellers.
You’ll find that even if you produce a home appraisal, buyers and their lenders would still conduct another home appraisal because it is one of their requirements.
There is nothing wrong in getting a home appraisal but if your foremost reason is to know the market value of our home, your Incline Village real estate agent can provide a home valuation for you.
You do not need to spend money to know your home’s accurate worth. Ask a free home valuation of your Incline Village home for sale from your real estate agent.
What Upgrades Do You Consider When Estimating the Value of My Home?
Home improvements, renovations and upgrades are great ways to extend the life of your home, add living space and make living more comfortable and secure. It also makes the room more appealing. But does it increase the value of your home?
When you need to put your Incline Village home up for sale, will the home improvements you've made cause a sufficient impact to yield good returns?
Let me tell you two important things when it comes to renovations and upgrades.
- Not all upgrades can bring the additional value you hope for.
Some renovations will increase the value of your home, others can make it more difficult to sell. You need to know the right renovations and upgrades for your home.
As your real estate agent, it is my responsibility to help you know which upgrades can increase your home's value.
- Renovations and the style designs are personal choices, and not all home buyers will love the changes.
Home buyers have their own preference, and at times, they may not be in love with the materials you used in the renovation.
What upgrades pay off when it comes to reselling the home?
1. Kitchen. The kitchen is one of the favorite places home buyers check to consider whether or not they will buy your Incline Village home for sale.
Because many people love to spend time in the kitchen, they prefer their kitchen to be efficient, functional and stylish.
Kitchen upgrades are usually costly, but have high returns. This is especially true for older homes.
2. Bathrooms. Next to the kitchen, bathroom renovations are high on the list of considered upgrades when estimating the value of your home.
Because it is one of the prominent rooms of the home, buyers prefer bathrooms that are comfortable, modern, well-lighted and with a touch of luxury. Replacing your shower/tub combo with a frameless walk-in shower has a high return of investment.
3. General maintenance. A gourmet kitchen and a newly updated bathroom will lose its appeal when there's water leaking in the basement. The same is true when there are other general maintenance issues that are not properly addressed.
Essential components of the home like roof, windows, floor, and furnace all have a life span and have higher returns when replaced before due, especially for old homes.
You'll find that as much as buyers appreciate the touch of luxury in the kitchen and baths, they would rather have a home whose roof and windows have been recently upgraded, because that is one less worry and expense for them.
4. Outdoor Improvements. Your home’s exterior creates the first impression that draws the buyer inside the home, so make your curb appeal count.
Repainting your fence and porch railings will brighten the look of your landscape and will be considered in estimating your Incline Village home for sale’s value. Window boxes, porch planters and a new mailbox are all affordable upgrades that add value.
Siding adds to a property’s worth, especially if it is clean and well maintained.
Gardens and trees provide color, shade and privacy. Think of how stunning the front lawn will look, especially during fall or spring.
A deck is a relatively low risk addition with about a 78% return for composite and 87% for wood. You can also opt to include a cover or simply leave it open.
Fire pits and fireplaces are also great upgrades for your yards. There are plenty of fire pit options to choose from, ranging from inexpensive to expensive ones.
However, before you go make any upgrades to your Incline Village home for sale, remember to discuss with your real estate agent the appropriate upgrades you should make to your home.
Your upgrades will vary depending on the neighborhood you are located in.
How Do You Figure Out My Home Value?
There are many things that go into pricing your home, but the most important is an objective home valuation. A correctly estimated home means a home priced at its right market value, which means it will sell faster.
When you are asked how much your Incline Village home is worth, the best and most accurate answer will be given to you by a real estate agent or REALTOR® like me.
You may be wondering how I can come up with the estimate. How do you know it’s right and not just a wild guess?
Different agents do it different ways. Some rely on a mountain of information, others do a series of computation combined with a gut check and still others just add a few dollars to what his or her company’s online home estimator produced. I actually don’t recommend the last one because online estimators are not accurate.
Despite the differences, all agents and REALTORS® use a comparative market analysis (CMA) tool. To determine the value, we look at the property location, the condition of the property, and the housing market condition in your area.
To create an accurate CMA, we check three things.
- Most recent homes sold. Recent means properties that have sold within the last six months. The more recent the data, the better. The market is always changing so you want your the data to be as fresh and recent as possible. This is the most important piece of data we have to check because it reflects how much buyers are willing to pay for the properties.
- Active listings. These are homes currently for sale. Many real estate agents make the mistake of using this as the basis for pricing but it is hard to know if they will sell or if they have been overpriced.
- Pending sales. These are homes which have gone under contract but have not yet closed. This list is a good indicator of value because it is a recent agreement. The disadvantage about it is we won’t know the actual price until the deal is finished.
What do we look at in terms of comparables?
- Home style. When you sell your Incline Village home, we should come up with three or more recently sold homes which closely match your home in terms of home style. This means if your home has a colonial style, the comparables should have a similar home style.
- Number of bedrooms. Knowing how many bedrooms a house has is crucial in the comparing process. If your Incline Village has one or more bedrooms than the comparables, certain adjustment will be made.
- Number of bathrooms. As one of the two rooms that sell a house, it is important to check how many full and half bathrooms your home offers.
- Square footage. Each home’s square footage is different, so adjustments will be done depending on how much bigger or smaller your property is.
- Garage. Do you have a one-car garage or a two-car garage? What is the average size of the garages your neighborhood has?
- Age of home. Older homes have lower equity, so if your home is older than the comparables, some deductions have to be made.
- Condition of kitchen and bathroom. These two are the rooms that sell the house, and its condition drastically affects the sale.
- Condition of the property. Is your property well-maintained or slightly run down? The condition of your property can also add or deduct from your property value.
- Lot size. In many subdivisions, lot sizes are similar. In Incline Village, lots sizes differ. Cookie cutter homes are rare in this community, and lots usually vary as well.
- Improvements and upgrades. Any improvements or additions you’ve made to your home, as long the buyer wants it, will also be included in the valuation.
Here are a few other things we REALTORS® also take a look at, then adjust the price accordingly.
- The local community. The kind of environment in the subdivision is important. Communities with high job rate and efficient amenities have better market value than areas with low job rate.
- The quality of school district. This factor adds weight to the estimated market value of a home. Homes in acclaimed school districts have a higher value than homes which belong to homes with low rankings.
- Natural disasters affecting the area. Communities that are usually affected by natural disasters have lower equity compared to those that are on safer grounds.
All these factors are included when I give you a free home valuation.
In case you can not view this video here, please click the link below to view What do I ask a Real Estate Agent in Incline Village NV about Listing my Home for Sale? on my YouTube channel: https://youtu.be/aeW53b-lv50
Are you ready to learn your home’s worth? Call me, Peg Augustus, at 775-831-2846 for a free home valuation. I have been a real estate agent in Incline Village for 30 years, and believe in providing excellent service to my clients. I can give you a free home valuation and you are under no obligation to list with me.
Peg Augustus - 954 Lakeshore Drive, Incline Village, NV 89451