How to Valuate Your House
Thinking about selling your house? Then it’s smart to have at least a general idea of what your property is worth. So how do you determine that? There are several factors that help determine the fair market value of your home, including the current real estate market, the home’s location, the condition of your property, and more.
If you’d like to get a ballpark estimate of what your house is worth, read on for our top tips on how to valuate your house. Also, if you want to sell your house fast for cash, call Purple Mountain Holdings to schedule a walkthrough.
Use an Online Home Value Estimator Tool
There are several virtual tools that can provide a ballpark estimate of your home’s value. All you need to do to get an estimate is enter your address, and the tool will spit out a figure.
These tools, which are often referred to as automated valuation models (AVMs) rely on algorithms that assess publicly available data to generate a value estimate. They factor in the value of recent home sales in your area, public records, and property tax assessments to calculate the expected value of your home.
Check Out Your Local Auditor’s Website
For property tax purposes, county or municipal auditors routinely assess the value of residential properties in your area. This information is publicly accessible, and you can search for it online.
It’s important to note, though, that the value assessment provided by a local auditor only reflects the taxable value of your home, not the actual fair market or assessed value based on the current real estate market. In some areas, the value estimate you find from your local auditor may be considerably off from the actual market value of your home.
Get a Comparative Market Analysis
You’ll need to work with a realtor to get a comparative market analysis, but many real estate agents offer this analysis for free as a way to win your business. To perform this analysis, the realtor will pull sales data from recent home sales in your area to help determine the value of your home. The agent will also take into consideration details about your neighborhood and special characteristics of your property to accurately estimate the value of your home.
Schedule a Professional Appraisal
A professional appraiser can provide you with an unbiased and thoroughly researched estimate of your home’s value. Appraisers routinely perform this service for prospective homebuyers who are interested in making a purchase because lenders require that a home be professionally appraised before the mortgage underwriting process can be completed.
As the home seller, you’re not required to get an appraisal, but it’s a good idea nonetheless. With a professional evaluation, you won’t be left second-guessing the value of your home, so when you are ready to sell, you can list your property at an appropriate price.
Request an Offer From a Cash Home Buyer
If you’re looking to sell your house fast and want to know the fair market value of your property in as-is condition, the best way to arrive at that figure is to request an offer from a cash home buyer. A buyer of this type — who is almost always a real estate investor — will perform a brief walkthrough of your property to assess its condition, layout, size, and several other factors that play into its overall value.
A cash home buyer will also perform extensive research to valuate your house. He or she will look at the selling price of similar homes in your neighborhood and the general value and desirability of homes in your area. After performing in-house research and your home assessment, a cash buyer will present you with a no-strings-attached offer that reflects the fair market value of your home, exactly as it stands.
Want to Sell Your House Fast? We Buy Houses in Colorado Springs
Are you interested in selling your house for cash? Then get in touch with our team at Purple Mountain Holdings today! We buy houses of all types, no matter what kind of condition they’re in, and we’re ready to make you a no-strings-attached offer for your Colorado Springs home. To get started, feel free to give us a call today at (719) 476-2727 or contact us online to request a fair cash offer, and we’ll be in touch promptly.