How Much is Your Home Worth?

by Jeff Minter

There are a lot of opinions out there on what your home may be worth. With the strong sellers' market we are currently seeing, everyone wants to tell you about what your home is worth and what to do with it.

So how do you know what you should do and who to believe?

When determining the value of your home, key things that we look at include: size, condition, location and marketing.

We can't compare a 2,000 square foot home to a 4,000 square foot home. We can't just compare your home to others in your area. We have to look at homes that are similar in size. And since there's not a lot of inventory on the market, we will look at homes that are similar to your home and make adjustments to them, just like in an appraiser would.
The condition of your home has less to do with age and more to do with upkeep and upgrades. We look at things like landscaping, renovations and modern updates.
What about location? When assessing your location we listen for traffic, look for railroad tracks, proximity to freeways, schools and amenities, and anything else that may influence the value of your home.
My favorite and where we see agents having the hardest time is with the marketing that's done on your home. Proper marketing or lack thereof can drastically change what you will get for your home, even in a sellers' market. Don't listen to someone who says marketing isn't important - it makes a drastic difference and we have the stats to prove it.

The value you can get for your home can influence the decisions you make about your home. Make sure that you are going to experts who have the experience and proven track record when finding out what your home is actually worth.