How Much is Your Home Worth?

January 4, 2018

Have you ever wondered how much your home is worth?  Maybe you bought your home 10 years ago and are looking to know how much equity you've gained.  Perhaps, you are thinking about selling your home in the near future and are trying to figure out how much you could sell it for.  Well, here's some advice and tips to better understand the value of your home and how to price it. 

 

The first thing you can do to get a quick idea of what your house is worth is to try Realtor.com's Home Value Estimator.  It will give you a fast and ballpark estimate of your home value.  However, this is just a quick estimate.  Several factors like the condition and level of improvements that you have made to your home greatly effect the value.  Thus, to get the most accurate home value, ask a REALTOR® to come by and do a walkthrough.

 

As for pricing your home, it is important that you work with a real estate professional because it can be a deciding factor on whether your house sells or not.  It is imperative to understand the current market.  A REALTOR® who knows the area can do a comparative market analysis for you.  A comparative market analysis uses data from MRIS to compare your home to homes that have sold and ones that are currently on the market.  Comparing your home's location, sqft, features, etc... to other homes that have sold will give you the best idea of what you could sell your home for.  Finally, what are your financial needs?  Do you need to sell your home quickly or is there no urgency to sell it right away?  The answers to those questions will affect your sales price.

 

To schedule a free home evaluation, email me at blake.davenport@longandfoster.com or call me at 484-356-8297.  Also, to learn more about the selling process, visit the Seller's Guide page in the Live Section of our website!

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