WHAT YOUR HOME IS WORTH?
But before I do, let me explain how I determine a value for a home. Let me correct my last statement, I do not determine the value, but rather home buyers determine value.
So what I do is research homes similar to yours within the last 6 months or sooner is better to find out what home buyers paid for homes similar to yours and then adjust the value from there depending on factors directly related to your home.
An online answer to what your Home is Worth is going to be more in the general value range. In order to do a more specific value based on your direct home factors, I would need to visit your home. Home Values are also determined by the current Market Conditions.
Is the current Market Condition a Seller’s Market, a Stable Market or is it a Buyer’s Market?
Below are some factors that will also determine what your Home is Worth:
- Today’s competition and the buyer’s …other choices
- Today’s interest rates and financing terms
- The buyer’s perception of your home’s …physical condition
- How well the design features & …quality finishes of your home …match the buyer’s preferences
- The location
- Normal marketing time
Below are some factors that do not determine the value as perceived from the Home Buyers point of view:
- What you have in it
- What you need out of it
- What you owe on it
- What you want for it
- What it appraised for
- What your neighbor’s house sold …for last year
- What the county assessor says it is worth
- What it is insured for
- Your memories and treasures
- The price of similar homes where …you are moving
I hope this gives you some insight on What Your Home is Worth and how that value is determined!
Kathy services all of Ventura County beautiful Cities: with an emphasis on Ventura, Oxnard, Camarillo & Ojai. If your home is not on the market and you want to know How Much is My Home Worth? I can help you sell your home, just ask about my “Certified Home Package” that I offer…..takes a lot of the drama out of the transaction!