The Number Every Homeowner and Seller Should Know

The common question many homeowner and seller thinks about are”How much is my house worth?” The very same question each time I think about when I try to sell a property because by knowing how much is my property worth I am able to determine how much can I price it in order to attract the buyer’s attention. Maybe you don’t want to sell your home right now, but you are curious whether how much value has your investment increase since you bought it. This seems to be a common question that’s being asked around.


Now that you’ve known what you are looking for, I am going to show you a variety of ways to do that, in which most of them are free and easily accessible online. Here’s how you can find that magic number.


  • Home value estimates online

This is very simple, all you have to do is enter your address into an online home value estimator, which will, within seconds, present you with a free estimate of what your home is worth, based on data such as its square footage and recent home sales in your area. Not that you’ve gotten that value it is not a 100% accurate answer it’s only a ballpark value there to give you an estimate.


  • How real estate experts determine their own home value estimates

Generally, from what I observe, real estate agents typically specialize in answering the question “what is my home worth?” for their clients because that’s the first question I would ask them before anything else. What they’ll do is finding similar properties to yours which are sold within the past 90 days and from there they’ll average those figures to come up with a home value for you.


Although you are able to get the value from your agent, a better and more efficient way I would recommend you to do is by looking at the sales price of other listings in your community beforehand. When it comes to property value it is better to have a more reliable source on hand to get the most accurate answer for you.


For instance, “if your neighbor’s home is listed for $500,000 and you want to list yours at $600,000, you’d better be able to explain the difference to prospective buyers when they ask.” Or else adjust your number accordingly.


What is my home value to a buyer?

As a seller, you need to take in consideration how home buyers are searching for properties online. Let’s assume your home’s fair market value is $503,000. Based on the experience many people search for homes on the web using $20,000 or $25,000 increments. Therefore if you’re listing your home for $503,000 this could prevent your listing from being seen by buyers who are searching for homes in the $475,000 to $500,000 bracket, so a better asking price would be $500,000.




Why is it important to know how much your house is worth?

Because if it’s not done right your property may end up sitting on the market for too long and this can be bad for you. Because buyers get suspicious when they see a house that’s been on the market for a long time and they may think that if there’s something wrong with the property. Which it can be a pain in the ass for the seller because they would require to reduce a significant amount if they still want to sell the property.


Your best bet: Know what your home is worth, and list your home close to that figure. If you are still having any doubt, consider seeking advice from your real estate agent to help you cut through the haze and help you pinpoint the right price. I hope this article helps you in some way. All the best.

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