Why find your home’s worth
Do you have an idea of your Incline Village home’s current market value? Like many homeowners, you may be unaware of the current equity of your home.
Perhaps you’ve had that home for years. You knew its market value when you bought it, but the real estate market has experienced some drastic movements in the past decade. There was a housing market crash in 2007 which dropped your home’s value, and then things started to slowly pick up in 2012 to 2013.
All you know is your home may have a higher equity than when you first bought it.
As a homeowner, you need to know your home’s value. Even when you are not planning to sell, it’s just amazing to know how much equity your home and property has gained.
Also, if you are to insure your home or need to get a refinancing for an equity loan, you need to know your Incline Village home’s worth.
Ways to find your home’s value
Now that you are eager to learn how much your home’s value is, you need an answer as soon as possible.
There are several ways to determine your home’s value.
1. With the help of an experienced real estate agent. The best way to find your home’s value is with the help of an experienced real estate agent like me.
One of my tasks as a real estate agent is to do Comparative Market Analysis (CMA) to compare size, age, and style, in the surrounding area. The more current the record, the better.
When the properties are compared, and adjustments are made, an estimated value can be made for your home.
2. Through online home estimators. Online home estimators are convenient, easy to use, produce fast result and are free! But despite its convenience and popularity, it is not accurate.
The figure you received from the online home estimator should never be used as your home’s value, much less the basis for pricing your home.
It can be used a guide to figure out your home’s market value, adding or deducting items as you go through the valuation process.
3.Through your own assessment. You can do your home valuation by following the tips and techniques available online.
Be prepared because it can be time-consuming and challenging, especially if it is your first time.
My only concern with owner valuations is many homeowners overprice because they add all the improvements they have made to their home at the price they bought it for.
If you are not confident you will do it right, leave it to an expert like me to do your Incline Village home for sale’s valuation.
Factors that determine your home’s value
Your home’s value is dependent on several factors. These factors are taken into consideration during home valuations.
1. Location. You may have seen the phrase “Location, location, location!” in many listings. This is because location plays an important role in your home’s worth.
Is it close to downtown? How close is it to dining and shopping options? Is it convenient for commuting? All these things will be checked out and considered.
2. Condition of the property. The state of your home matters.
Is it well-maintained? Have there been recent repairs? Did you install new siding?
All that will be included in the valuation. It is not just the home that should be checked but also the rest of the property.
3. Home Features. Does your home offer special features? How many rooms does it have compared to the other homes in the area?
4. Upgrades and improvements. The home improvements you make matter, however not all improvements have ROI. So if you are planning to upgrade your home, go for improvements that add value
5. Market condition. Among all the factors affecting home value, this is the one you have no control of. If you decided to sell your home during a buyer’s market, you are in for some tight competition because there will be a lot of competition in the area for sale.
Your home is your biggest financial asset. You want to ensure it is in good hands.
I can help valuate your home. Visit my website http://HomesForSaleInclineVillage.com/about/ to learn more about me.
Have you decided to sell your home? Call me, Peg Augustus, at 775-831- 2846. I can provide you with a free home valuation. There is no cost and no obligation.
In case you can not view this video here, please click the link below to view What’s My Incline Village Home Value? on my YouTube channel: https://www.youtube.com/watch?v=vnOjJ4As5nY&feature=youtu.be