What’s the value of my property? Has it gone up? Or gone down? I had my mortgage refinanced last year and the value was $X, what if I sold it today? How is value determined?
A market analysis can determine the value of your home, any good real estate agent can give you a price that’s within a range you can expect to receive. Your home is typically your largest asset so it’s smart to understand the value as it increases year over year.
1. First I’ll look at the homes that have sold in your immediate neighborhood or condo complex. Sold properties are a good standard to look at versus homes that are listed on the market and unsold.
2. Then I’ll break down all amenities of the property… a view, air conditioning, slab granite counters, extra parking, privacy, proximity to transportation, etc. These all add up to what your home is worth and how it’s set apart from other properties. Through careful analysis I can give you a very close range of what your home will sell for and how quickly based on market statistics.
3. It’s also important to consider the competition and where to position your home based on what else is currently listed. It’s always best to price your home to sell, trying to overprice typically ends in a lower price and takes much longer to receive. When there’s little on the market you can expect more offers and quickly but if there are many options for buyers it will take a little longer depending on how your house stacks up.
A market analysis is always free so ask me anytime you’d like an update to see where your property value is at. Maybe it has gone way up and it’s time to sell and purchase another property or perhaps you have enough equity to refinance and get rid of mortgage insurance. Whatever your real estate goals are, knowing the value of your home on an annual basis is important to track, it is after all your largest asset.
Contact me today if you’d like a free Market Analysis of your home or condo!