What is the Value of My Home?
If you have ever bought or sold a home, you may know how critical the market analysis is to determining the value of your home. If your asking price is too high, the likelihood of the home being sold greatly decreases. On the other hand, if you price your home too low, you will miss out on potential profits.
The Putzier Real Estate Team is dedicated to providing industry-leading expertise coupled with 17 years of combined real estate experience. We are committed to the most up to date market analysis of your home so you can get the most value for your property.
What is a Market Analysis?
A real estate market analysis is a comparative market analysis (CMA). It is an analysis of the current market values of properties, comparable to a property you are looking to buy or sell.
To make sure a home is fairly priced, a real estate market analysis should always be performed before listing your property. This analysis will compare the values of similar homes in the area to come up with an accurate market price.
Are you thinking about selling your home? Click the “Sell My Home” link below, answer a few short questions and we will be happy to get your full market analysis started.
What do we consider when valuing your home?
Step 1: Property Analysis
To find the value of a home, a number of things are taken into consideration. First, the principal listing should be considered as a part of the new analysis. We will determine whether there are comparable upgrades, features or other notable items the property may have that will add value. Then we will consider everything from the age and size of the home, including the neighborhood features, home improvements and the local amenities. There is no way to fully determine the value of a home without this assessment.
Step 2: Evaluate Your Property’s Value
We will use professional and accurate resources to give you the estimated market value of your home. Some homeowners will look at sources like Zillow to determine the value of their home. While this is useful, it is important to remember that some sources are unable to look at a property in its entirety. It may reflect a lower or higher value than what is realistic after a home value is determined. But it can provide insight into potential values of your home. As your agent, we will complete a more thorough market analysis of your home.
Step 3: Search Comparable Homes
Next, we will identify recently sold properties in the area that are comparable to your home within 6-12 months of the day we list your home your home. Comparable properties should have similar approximate square footage, number of garage spaces, located in the same neighborhood, similar lot size, age of home and features. Your market analysis will consider 3-5 homes similar to yours and will be added to your comps.
Step 4: Determine a Sales Price for Your Home
With a completed market analysis, we can determine a price range for your property. We will help you list within the best price range. Setting a price range will allow you to decide on the lowest offers you can accept. This decision may affect your current loan balance and how much you will make off of your home after fees and loan pay-off. We will provide you with a complete Seller Net Sheet so that you have a pretty good ball park idea of what you may stand to profit at closing. Knowing all of these numbers before listing will help you accept the right offer.
Step 5: List Your Home
Prior to listing your home, we will provide you with a list of items to complete to enhance your home upon listing. Once all items have been completed, it is time to put your house on the market! Professional Pictures are taken on every one of our listings. Every seller should be fully equipped to succeed in the sale of their home, feeling fully confident in the listing price and accomplished at closing and beyond