There are two ways to find the value of your home:
- A well-informed estimate from an experienced Realtor who knows your town, your street, and the neighboring houses.
- A quick estimate from the Internet. Home value estimates from the Internet are quick and easy but may be 10-20% higher or lower than the actual market value.
Find the Real Value of Your Home
An experienced Realtor adds many important considerations to the public information available on the Internet.
- Size of house
- Date of construction
- Number of bedrooms and baths
- Size of the lot
- Home sales in the neighborhood within the last six months or year
- Additional structures, like swimming pool, garage, and outbuildings
- Location. There are many aspects of location that influence value. For example, is house near a busy intersection, on a corner lot or a “flag lot”?
- Neighboring homes. Are the neighboring houses upgraded or of lesser quality? Are they well maintained?
- View. Does the house a view? A great view of the mountains or water can add considerable value. A view of roof tops or commercial buildings can reduce value.
- Privacy. Is their privacy from the windows and yard? Is their noise from neighbors, roads, or schools?
- Floor plan. Is the house on one or several levels? Are the bedrooms arranged to accommodate children? Guests? Is there a full master suite (this is important)?
- Accessibility. How easy or hard is the potential commute to work, school, activities, and transportation?
- Upgrades. Is the structure of the house upgraded? Are the kitchen and bathrooms upgraded? Are improvements attractive to current buyers?
- Presentation. Was a recently sold house staged well to attract buyers? This is sometimes a subtle distinction, but always a strong influence on a sale and final price.
- Lot and Landscaping. Is the lot attractive to young families? Is the yard suitable for outdoor living? Is the landscaping fresh and well maintained? Does the property have good street appearance?
- Schools. Do the local schools meet the expectations of buyers? Are after-school activities convenient?
- Knowledge of sales in progress. What is new on the market to compete with a home for sale? What was the interest level for homes recently for sale in the neighborhood?
- Market conditions. Buyer interest changes from week to week through the year. Houses that attract many buyers in April may have less interest in July. These changes effect actual market value.
An experienced agent who is well-connected and well-informed can assess all these variables and predict the value of your home.
A Quick Estimate of Your Home’s Value
There are many free estimates of home value on the Internet. They are all computer-generated from the same public information available from tax records and the multiple listing service. You can try Zillow.com; this is as good or better than most, but often their estimates are high.
Internet estimates cannot factor in many important variables that effect a home’s value, and the data that they use may not be up to date. Even Zillow recommends that you consult an experienced real estate professional for an accurate valuation.
Contact Madeline to Learn the Real Value of Your Home
Bringing more than 27 years of experience and a high profile in Marin real estate, Madeline can realistically evaluate your home. Based on all of this information, she can recommend a strategy to bring you the highest sale price.
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