The Best Methods to Find a Home’s Value

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Selling a home? Click here for a FREE Home Price Evaluation

Today we’re going to be discussing how you can find out what your home is worth for the 2016 spring selling season. We’ve got four great tips for you today, here they are:

1. Find out what your X-factors are.

These include finding out what nearby homes have sold for, as well as taking improvements you’ve made to your home into consideration when coming up with a sale price.

2. Use an agent who’s a local expert.

It’s a good idea to request a CMA from a few different local agents to see exactly what homes like yours are selling for so you’ll know what to expect.

3. Hire an appraiser.

If you can’t establish a good value from people you’re speaking with, this is another option you have. Although it costs a few hundred dollars, it’s one of the more accurate valuations you can get.

4. Competition, consumption, condition.

These three items are collectively referred to as “The 3 C’s”. It’s important to know what other homes buyers are looking at, how homes are selling in the current market, and what improvements (or lack thereof) will affect your home’s value.

There you have it, our top 4 tips for finding your home’s value. If you have any questions for us, give us a call or send us an email. We would love to hear from you!

The Scoop About Phoenix Real Estate

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

Often, clients ask me about what’s going on in the Phoenix market. Today, I’ve compiled the top five questions to answer for you all.

1. Is it a buyer’s or seller’s market? We’re experiencing a strong seller’s market in homes priced up to $350,000. It evens out for any properties priced above $350,000.
2. What does housing inventory look like on the MLS? Currently, there’s about four months of inventory, which is quite low.
3. How does inventory affect prices? As you know from econ 101, high demand and low supply results in rising price. Right now, prices are appreciating at a 5% rate.
   
4. What about interest rates? Interest rates are still historically low at 5%. This is an opportune time for buyers to take advantage of this.
5. What does this mean for you? As a buyer, you should find a home ASAP! Sellers should list today while inventory is still low.

If you’re thinking about buying or selling in Phoenix, give me a call or send me an email! I’d be happy to answer any real estate questions you have.