Determining fair value for a house is easier than most homeowners assume. If you want to sell your house fast, you can gauge its fair value and sell to We Buy Houses Columbus in less than a week. We buy houses with cash. Let’s take a quick look at how to valuate your house.
Research Local Sales
The most recent sales in your neighborhood are the best indicator of your home’s value. Though these figures will not reflect the value of your property down to the dollar, they are a good indicator of what prospective buyers are willing to pay. As long as your house was built around the same point in time and has similar features to properties on your street or in nearby neighborhoods that recently sold, you can use the sales prices as a general gauge of your property’s true worth.
Surf the web to the top real estate websites or your local news website, sort the home sales by the most recent date, and pinpoint properties closest to your house. Use the sales figures from nearby homes to valuate your own home, and you’ll have a better idea as to what constitutes a fair offer.
Ask a Real Estate Professional for an Estimate
Real estate agents who have sold houses in your zip code will have a good idea of what your property is worth. Some such professionals will even provide an estimate of your home’s value without charging a fee as they assume doing so will encourage you to rely on them to list the home with their agency. Instead of hiring a real estate agent for your home sale, sell directly to We Buy Houses Columbus for top dollar. We buy houses in all cash, meaning you will be paid without a lengthy wait.
Have the Property Appraised
A home appraisal provides a clear look at the true value of your home. Professional appraisers determine home values based on the value of the land, the home’s amenities, the build date, the local neighborhood, and other factors. Though you’ll have to pay a couple hundred dollars for your home appraisal, it is money well spent. The bottom line is the valuation provided by an appraiser who gauges house values for a living will be more accurate than any other estimate.
Consider the Market’s Dynamics
You can certainly search the web for your home’s address as well as the addresses of nearby homes that recently sold to get an idea of what will constitute a fair offer for your home. However, the current state of the housing market and the economy also shapes home prices. If the market is cooling, you probably won’t receive offers in line with those of comparable properties simply because demand is decreasing and supply is increasing.
Even if supply is not increasing, the decline in demand will result in a lower sale price simply because fewer people are looking for homes in your area. Consider the dynamics of the market when determining the true value of your home and adjust your expectations accordingly, and you’ll be able to sell your property without worrying about whether you received a fair value.
Use an Online Calculator
Search the web for online home valuation calculators, and you’ll find plenty to choose from. As an example, the House Price Index calculator available through the Federal Housing Finance Agency provides an estimation of your house’s value based on the metropolitan statistical area’s dynamics. This calculator considers the home value alterations in the area you live in after the date of your home purchase. The calculation factors in changes in property values in this period of time, helping you get a sense of your house’s fair value in terms of today’s dollars.
Get a Cash Offer From We Buy Houses Columbus
Our Columbus home buyers are here to help you sell your house fast for top dollar. Contact We Buy Houses Columbus today to get a cash offer for your house. You can reach us online or by phone at (614) 515-5130.