Are you ready to sell your North County home? Then you know that one of the first things you want to determine is the value of that home. Pricing your home correctly from the beginning is key to a successful sale. It helps to ensure that the sale happens quickly and at a price that all parties can feel good about. But do you know how to determine the value of your home? Read on to find out.
Look at comps
One of the ways that agents here at Clark & Gilman determine the value of your home is to look at local comparable homes. But this isn’t just something an agent can do. You can also do this kind of research in order to get an understanding of the local market. First, you’ll want to look at properties that sold in your neighborhood in the last six months. Then, look for homes that have similar features to yours. This includes the size, number of bedrooms and bathrooms, location, condition, upgrades, and other amenities. Ideally, you’ll want to find three properties that are similar to yours. If you can’t find at least three homes, you can also look at homes that are currently for sale – although you should keep in mind that their asking prices might not be realistic. You can then get a ballpark figure for your home by looking at the highest and lowest selling prices of your comps. Your home will likely be somewhere in the middle of that range.
Talk with a real estate agent
When you want to take your investigation to the next level, then it may be time to talk to a real estate agent. An agent can perform a BPO or CMA to get a better understanding of your home’s worth. A BPO (broker price opinion) is a combination of information about your home and the opinion of the agent about the value of your home. A CMA (competitive market analysis) takes a look at comparable properties in your area and current market data to determine your home’s worth.
Get an appraisal
If your homebuyer is financing their purchase, then their lender is going to require an appraisal. But as the homeowner, you can also hire an appraiser at any time. An appraiser will estimate your home’s value by researching the market, looking at your property’s characteristics, and evaluating comparable properties. All of that information combines to create their opinion of the value of your home, and it’s delivered to you in an official report.
Use our home valuation tool
With all that information in mind, did you know that you can actually get an estimate on the value of your North County home in only 30 seconds with our home valuation tool? Simply plug your address into our website to find out what your home is worth. Best of all, the information is free!
Contact The Clark & Gilman Team
If you’re ready to sell your North County San Diego home, then click here or call 760-758-1211 to speak with an agent from The Cristine Clark and Jamie Gilman Team. We’ve sold one home every 3.3 days since 1997. Will yours be next?