If you have ever wondered how a REALTOR figures out the market value of a home then today's post is for you. When you call me out on a listing appointment to help you list your home and determine a true market value and the process goes something like this.
For the example, Let's use the neighborhood Delaware Place.
Photo of 4670 Ashdown. This home sold in March 2014 for $198,000. Source Southeast Texas MLS
The first thing I do to determine a professional market value on a home is to look at other homes that are similar that have sold in the past few months. This year in Delaware Place there have been eight (8) sales that have closed.
See here (street numbers not included)
This gives us a snapshot of what homes are selling for and how long it is taking them to sell in Delaware Place this year. The next step when determining a fair market value is to determine which homes are the most similar to the home you are trying to sell. You can see that two (2) homes sold for over $90/SQFT and two (2) sold for less than $65.
"That's a BIG difference on a 3,000 square foot home."
Then comes the expertise and experience a professional REALTOR has from seeing, showing, and selling hundreds of homes that help to determine what a home will sell for.
If you need help selling your home or determining a true market value for your home, contact me. I'll schedule an appointment with you and provide you a no cost market analysis that shows you what your home will sell for in the current market.
You can reach me by cell or text at 409-504-9097 or by email at email@example.com or push the contact link on the blog. I'm accpeting new listings. Let me help you sell your home for top dollar in a time frame that is acceptable to you.