What’s My House Worth?
At the end of the day, a house is only worth what a buyer is willing to pay for it. Until a property is actually sold at market to a buyer, it’s value can be estimated, but not known for certain.
Market value is an opinion of what a property would sell for in a competitive market based on several factors. These include the features and updates of the property, the overall supply and demand in the current marketplace, and what other similar condition properties have sold for.
Neighborhood Sales
Recently sold, nearby houses, that are of similar size, year built and construction type.
Adjustments
Increases or decreases in value to account for differences between the neighborhood comps and the subject property.
Market Conditions
Taking into account the current buyer demand, inventory availability and time of year.
Evaluating all of these factors requires access to the MLS, specialized knowledge and years of experience. We’re happy to share our experience and access to current market information to accurately determine the value of your house.
Condition is one of the most important considerations when calculating the value of a property. Differences in property condition can effect anything from a property’s available buyer pool to it’s appraisable value.
Zestimates are only a conversation starter for pricing a home, not the final word on its value. – Zillow.com Most importantly, algorithmic tools such as the Zestimate, have no information about the condition of your property when estimating it’s value.
Much like valuation websites, county appraisers are tasked with estimating the value of every property in a given geographic areas, without having any knowledge of the property’s condition.
Please don’t hesitate to give us a call at 972-487-7653 or send us a message if you have any further questions.
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