The 2018 housing market was a bumpy ride for most home buyers. Prices shot up by 5%, while inventories remained low across the US. Inflation and wages had no chance of keeping up, so buyers had to get creative to get into a home.
But, 2019 is shaping up to be totally different. Inventories are increasing and prices are stabilizing. It’s a changing market with new rules.
Knowing how to determine the value of your home is more important than ever. Buyer’s are gaining ground, and that could mean a lower selling price for you.
But, you may not need to sell to a traditional buyer at all. You’ve got a smart option to consider. You could sell your home for cash.
But to do it right, you’ll need to know what your home is worth.
How to Determine the Value of Your Home
It’s a new year with a new housing market. Including new valuing trends. Learn how to determine the accurate value of your home with these smart tips.
1. Use an Appraiser
To get the best valuation, use a professional. It’s credible and based on the market. In most cases, hiring an appraiser gives you power at the negotiation table.
You will pay around $250 – $450 for the report. But, it’s worth it. It includes accurate pricing based on your home’s condition and location. Plus, you’ll get comparative sales data.
2. Check out Online Tools
If hiring a professional isn’t an option, try one of the many online tools available. You’ll get a reasonable idea of the market value of your home.
Find online home value tools by doing a quick Google search. Many lenders and banks offer them!
Even the government has a calculator tool! Check out the Federal Housing Finance Agency’s HPI Calculator. Type in your state, the purchase and valuation quarters, and the purchase price. The calculator does the rest!
3. Research the Neighborhood
A professional appraisal includes this kind of research. They’re called comps in the real estate business. But, many people who need to sell their homes for cash can’t afford the cost of an appraiser.
That’s ok, you can do the research yourself!
Find recent sales data in public records and online searches. Realtor.com can show you current listing prices. Use Zillow to find out more information about those homes closest to you.
Make sure you’re comparing apples to apples. Look at homes that are the same size and have the same features to get an accurate idea of the value.
Get Cash for your Home, Today!
There’s no need to suffer through the traditional buyer/seller process. It’s not worth the hassle when you need to sell right now. Especially, when you can learn how to determine the value of your home and sell it to a cash buyer.
Use the tips above to negotiate a great price. Then, sell your home for cash, today.
Looking for a cash buyer for your New York home? We can help! Contact us, today.