April 5, 2019

Main Living Room Staging

 

Main Living Room Staging

When it comes time to prepare the living room for the showing, the big question is whether to empty the room, or have it staged. Staging your home is actually the better option because it helps to convey how the space can be used properly, should the buyer have a lot of furniture that they would like to incorporate.

In fact, staging your home, especially the living room, can make all the difference in whether or not a buyer wants your home.

Tips for Staging Your Living Room

There are multiple ways you can incorporate staging into your living room to ensure that buyers fall in love with your home as soon as they walk through the door.

  • Have lamps plugged in and set up near the corners of the living room, to illuminate any and all dark corners, which will add more light and bright feelings to the room.
  • Do not block any of the windows or natural light sources, unless it's a light curtain that is practically see through.
  • Only use small chairs and sofas to give the illusion that the room is bigger than it actually is.
  • Showcase lamb’s wool, satin, silk, and any soft fabrics by having throws overs chairs and sofas.
  • Place mirrors, paintings, and anything of the sort in the room to add more dimension and depth.
  • Create conversational areas by arranging the furniture in a vignette style.

Staging your living room is one of the most important things you need to do when selling a home, because it's generally where company will be entertained.

Even if you do not have a lot of furniture staged in there, it helps to give the buyer a mental image of what they would do with their furniture, random items, and how they will see themselves within the room.

Giving a buyer a perfect mental picture of how they would do things and how they would entertain any guests within the living room is incredibly important, and will definitely help you to sell your home a lot faster.

The Importance of Traffic Areas

While staging your home, it's incredibly important to keep traffic areas in mind, which need to be kept open to allow a good, natural flow.

Traffic areas are self-explanatory, but they are the areas where people will be traveling through a space,

the areas that will be walked through the most, and the areas where you will be showcasing your living room the most, so make the most of it.

If you have carpeted floors, then traffic areas will have already shown because of the years of traffic while you lived there.

Therefore, if there are traffic lines within your carpeted areas of your living room, be prepared to stage the room so they do not show.

With the proper amount of furniture and planning, traveling throughout your living room will be free of blemishes and will ensure that the buyer can have a perfect mental image of where they would place all of their belongings.

Identify and Utilize the Focal Point Within the Room

Focal points are specific features within a room that captures a buyer's eye as soon as they enter the room.

All of the focal points within your living room need to be highlighted when you are staging your home, with the goal being to draw and enhance the eye on these special features, to ensure that the buyer instantly falls in love with the room.

The focal point in a living room is generally the fireplace, but if you do not have one, then your focal point is whatever is the largest, most dramatic object within the room.

A bookshelf, for example, could be further enhanced by placing books, candles, and a large mirror nearby.

The most common focal points within living rooms are as follows;

  • The fireplace
  • Arches, beams, ceilings, and walls that are angled
  • Height ceilings
  • Tray ceilings and other interesting details within the ceiling itself
  • Arched, bay, large, and other forms of windows that really stand out within the room
  • Reclaimed lumber, old brick, and other forms of featured walls
  • Entertainment centers
  • Bookcases that are built in

With a fireplace, hanging a large mirror or a large piece of art over it really adds perception, depth, and extra drama to the room, and will always draw a buyer's eye successfully.

You could further enhance the fireplace by adding a beautiful vase, floral arrangement, candlesticks, or any object that will catch the eye of a buyer within a symmetrical line going across the mantle of the fireplace.

When it comes to focal points, symmetry is better than asymmetry because it helps enhance the focal point itself while keeping everything neat, tidy, and does not give a look of complete clutter.

For windows, however, ensure that they are kept completely open and do not have anything that could block the window itself or the view outside.

RELATES TO  -  home seller tips
Posted in Home Sellers
April 1, 2019

Staging Solutions and Options!

 

Staging Solutions and Options

Renting

If you don’t have the furniture that best compliments your home so that it’s dressed to impress, renting some can be a convenient option.  Also, if the house that you are selling is completely vacant, renting furniture might not only be convenient, but the smartest move.

Before getting started on the selection process, take into account what you have at home.

Storing away worn or dingy items is strongly recommended. Even just removing an old coffee table or couch can brighten up the space.

After you have done your best to comb through your house to rearrange or clear out furniture in each room, you can reassess to figure out whether or not you could use a few more pieces.

Whatever money you carefully spend on obtaining furniture will pay off when the home sells.

Much of the time, some renting is required to really create the effect you want, and even staging experts hired by homeowners resort to renting when in need of furniture.

How does one rent furniture?

  • Furniture rental companies. We don’t often hear about these types of companies unless we’re looking for them. Churchill Furniture Rental, Cort Furniture Rental, Brook Furniture Rental and AFR Furniture Rental are big names in the business.

These and other rental companies normally provide the furniture, the trucks, and the man-power to get it to its destination.

The only downside is that they also normally require a three-month minimum rental period.

Of course, if you happen to sell your home sooner, you’re not out any extra money for returning the furniture early.

  • Thrift shops or antique shops. If you have any of these in your area, you might consider asking to rent larger pieces of furniture.

You will not always be successful at this, but if you find something that would fit your needs, it doesn’t hurt to ask.

Instead of renting furniture, some experts suggest using cardboard furniture for a comparatively lower cost.

You can dress it up as standard furniture without anyone necessarily seeing the difference.

A lot of this furniture is durable enough to be sat upon, however, so that’s also a plus.

Whichever furniture option you choose, make sure that it is indeed the best for your particular situation and that it will bring you the greatest return on investment by either selling the house more quickly than expected, or selling for a higher price.

Affordable Options

Let’s talk a bit about budget. When exploring staging options, it’s possible to become overwhelmed by the price tag of renting furniture.

The great news is that by taking the time to re-evaluate and rearrange your current possessions, you will find that you may not have to rent much - if any - furniture at all.  This can save you money.

What else can save money and help make the sale? Here are a few tips:

  • Re-establish boundaries. If your living room is also the playroom, the toys need to go into hibernation. No one enjoys seeing colorful dolls and cars all over the floor – except the children, of course.

Do you golf in your hallway? Pack up the putting green.

  • Polishing. Do a deep and thorough cleaning of every single room, and pay attention to the smallest details. When was the last time that you polished the wood or washed the windows?

It’s time to do it now. Even the toilet should shine. Don’t forget the ceiling fans with their dusty blades.

  • Put away memories. It might be difficult to do if you are staying in the house until it sells, but it is now time to take down all of your family photos, certificates, sports banners, and anything else that has a personal touch.

You want the potential buyers to see the house as an immediate home for them, not to have them subconsciously weighed down with the need to clear the house of all your belongings.

  • Fresh air. There are those people who love to open the windows every morning to let the breeze rush through, and then there are those people who couldn’t be paid to open the windows.

Well, it’s time to think seriously about getting paid by potential buyers.

If you never allow fresh air to blow through your home, then it has most likely developed an unappealing odor. Open up!

Step back and look at your house with the eyes of a potential buyer who has never entered through the door.

Do a walk-around on the outside, and then go slowly through the house to see what can be cleared away or scrubbed down.

All of this might take some time, but it will save you money whether you are hiring a staging expert or doing it yourself.

DIY

Pinterest has become a great online resource for learning how to improve your living space through creative projects such as using picture frames to create attractive wall molding.

If you find out that you have enough furniture but just need to embellish your home a bit more, here are some ideas:

  • Brighten it up. Do you have a sad paint color in any or all rooms? Is the house monochromatic?

Consider re-painting rooms according to their purpose, such as using soft neutrals like mild yellows or creams that set off a glow when the sun shines in the dining room.

Add an accent wall in the living room by choosing a complementary color such as a calming sage green or a deep red against taupe walls. Whatever you do, make the home welcoming.

“Remember, you’re never fully dressed without a smile!” (Annie)

  • New clothes. What would happen if you wore the same shirt – without washing it - every day for a week? It’s time to re-dress the windows and sofas.

Updating the window coverings to compliment the paint color and re-covering or purchasing new accent sofa pillows that pop can create a quick upgrade to your home.

Also, make sure to update your bathroom collection with clean and bright towels and bathmats.

  • Bring it to life. Consider strategically adding a fresh plant or vase of flowers to the different rooms throughout the home.

The keyword is strategically. This does not mean adding a floor plant in every corner and putting a vase of flowers on every surface.

Also, be smart! You want to be careful to avoid flowers with heavy pollen such as lilies to discourage any allergic reactions among potential buyers.

  • Slow things down. Adding lightly-scented candles here and there and lighting them when showing the home will create a calmer atmosphere.

Again, be careful to avoid heavy scents that encourage sneezing or instant headaches. Recommended scents are cinnamon, vanilla, pine, and citrus.

  • Play music. Have you ever taken the time to notice the varying differences in music choices among the stores that you visit?

A very low background hum of classical music will add a level of sophistication to your home, releasing extra endorphins within the bodies of your potential buyers, and providing them with a sense of wealth as they stroll through the beautifully-arranged home.


Hiring a Professional vs. Doing It Yourself

Time is the most common denominator among homeowners during the home-selling process.

To conserve as much time for yourself as possible, you will want to delegate as many tasks as you can so that you will be free to focus on other important aspects of your move.

A professional home stager could be a real lifesaver. Staging experts often have acquired valuable experience that they can pass on to your home to increase its salability.

The staging professional or firm will create a theme in each room to compliment the layout, bring in the furniture and home décor needed to complete the themes throughout the house, and give you tips to use when showing the house such as what kind of fresh flowers to buy or scented candles to burn.

You might also consider that a staging expert or firm will make sure to provide the manpower needed to do the heavy lifting and moving of furniture throughout the house, and if any damage happens in the process, the stager covers the cost of repairs.

On the other hand, staging the home yourself could not only save you money, but could also allow you to put more of your own personality into the theme.

Having lived in the home yourself, you are more familiar with its pros and cons indoors and outdoors such as the need for more light in a certain room or making sure that the lawn is treated for weeds to keep them from sprouting up overnight.

Your goal is to gain the highest return on investment when your house sells. If you believe you can achieve this by staging on your own, then go for it, otherwise, spend the little extra on a professional upfront to reap the benefits at the sale.

What to Expect with a Pro

True staging pros run a very smooth operation.   Of course, anyone can make mistakes, but fumbling around for something to write on or asking for your pen is already a red flag. Here are a few things to keep in mind:

  • Ask around. Don’t just select a random name from online and hire the stager. Ask your realtor, other realtors, and friends about their experiences and ask for a referral.

Then, interview several pros and select the one who could provide the best value to you.

  • You get what you pay for. If the price tag is low, it’s probable that the quality of service offered will match that price.

If your stager is a well-known expert in the field, your price tag will definitely be considerably higher than someone running a summer gig.

Can your potential stager provide references and photos of successful past projects?

  • They ask you many questions. Just like a doctor, the staging pro wants as much information from you about your needs as possible.

On your part, you also need to ask many questions during the initial consultation to make sure that this is the stager for you.

Ask questions like how do they work out their rates, how long they will take, what you could do on your end to keep the costs down, have they staged homes in the past and how many, and whether or not they’ll expect anything from you during the process.

  • They are staging pros. Not realtors. Not bankers. However, they do need to know enough about real estate to ensure that they know what they’re aiming for in increasing a home’s salability.

Their job is to make your home as appealing as possible to potential buyers, so they will not (and should not) talk to you about negotiating pricing with those buyers.

  • Be prepared to change your ways. The stager will want you to follow certain guidelines if you will be living in the staged house.

This will help keep the rooms in order and ready for viewing. If you won’t be living in the house, it’s going to be much easier to keep the home clean and ready to show. However, make sure to get in and dust regularly.

Real staging pros should make you feel confident about the quality of their work.

If you have any negative internal reaction during your initial consultation, run in the other direction and find someone you can trust. If you want to sell your home, it’s ultimately your responsibility to make it happen.

RELATES TO  -  home seller tips
Posted in Home Sellers
March 22, 2019

What's Ahead for Real estate in 2019?

 

What’s ahead for Real Estate in 2019?

As we begin another year, everyone wants to know: “Where is the housing market headed in 2019?”

It’s not only buyers, sellers, and homeowners who are impacted. The real estate market plays an integral role in the overall U.S. economy.  Fortunately, key indicators point toward a stable housing market in 2019 with signs of modest growth. However, shifting conditions could impact you if you plan to buy, sell, or refinance this year.

 

HOME VALUES WILL INCREASE

The value of real estate will continue to rise. Freddie Mac predicts housing prices will increase by 4.3 percent in 2019. While the rapid price appreciation we witnessed earlier in the decade has slowed, the combination of a strong economy, low unemployment, and a lack of inventory in many market segments continues to push prices higher.

“Ninety percent of markets are experiencing price gains while very few are experiencing consistent price declines,” according to National Association of Realtors (NAR) Chief Economist Lawrence Yun.2

Yun predicts that the national median existing-home price will increase to around $266,800 in 2019 and $274,000 in 2020. “Home price appreciation will slow down—the days of easy price gains are coming to an end—but prices will continue to rise.”

What does it mean for you? If you’re in the market to buy a home, act fast. Prices will continue to go up, so you’ll pay more the longer you wait. If you’re a current homeowner, real estate has proven once again to be a solid investment over the long term. In fact, the equity level of American homeowners reached an all-time high in 2018, topping $6 trillion.3

 

SALES LEVELS WILL STABILIZE

In 2018, we saw a decline in sales, primarily driven by rising mortgage rates and a lack of affordable inventory. However, Yun isn’t alarmed. “2017 was the best year for home sales in ten years, and 2018 is only down 1.5 percent year to date. Statistically, it is a mild twinge in the data and a very mild adjustment compared to the long-term growth we’ve been experiencing over the past few years.”2

Yun and other economists expect home sales to remain relatively flat over the next couple of years. Freddie Mac forecasts homes sales will increase 1 percent to 6.08 million in 2019 and 2 percent to 6.20 million in 2020.1

“The medium and long-term prospects for housing are good because demographics are going to continue to support demand,” explains Tendayi Kapfidze, chief economist for LendingTree. “With a slower price appreciation, incomes have an opportunity to catch up. With slower sales, inventory has an opportunity to normalize. A slowdown in 2019 creates a healthier housing market going forward.”4

 

What does it mean for you? If you’ve been scared off by reports of a market slowdown, it’s important to keep things in perspective. A cooldown can prevent a hot market from becoming overheated. A gradual and sustainable pace of growth is preferable for long-term economic stability.

 

MORTGAGE RATES WILL RISE

The Mortgage Bankers Association predicts the Federal Reserve will raise interest rates three times this year, resulting in a rise in mortgage rates.5 While no one can predict future mortgage rates with certainty, Realtor.com Chief Economist Danielle Hale estimates that the rate for a 30-year mortgage will reach 5.5 percent by the end of 2019, up from around 4.62 percent at the end of 2018.6

While mortgage rates above 5 percent may seem high to today’s buyers, it’s not out of line with historical standards. According to Hale, “The average mortgage rate in the 1990s was 8.1 percent, and rates didn’t fall below 5 percent until 2009. So for buyers who can make the math work, buying a home is likely still an investment worth making.”7

 What does it mean for you? If you’re in the market to buy a house or refinance an existing mortgage, you may want to act quickly before mortgage rates rise. To qualify for the lowest rate available, take steps to improve your credit score, pay down existing debt, and save up for a larger down payment.

 

AFFORDABILITY ISSUES WILL PERSIST

 Although the desire to own a home remains strong, the combination of higher home prices and rising mortgage rates will make it increasingly difficult for many first-time buyers to afford one.

“Buyers who are able to stay in the market will find less competition as more buyers are priced out but feel an increased sense of urgency to close before it gets even more expensive,” according to Hale. “Although the number of homes for sale is increasing, which is an improvement for buyers, the majority of new inventory is focused in the mid-to-higher-end price tier, not entry-level.”6

What does it mean for you? Unfortunately, market factors make it difficult for many first-time buyers to afford a home. However, as move-up buyers take advantage of new high-end inventory, we could see an increase in starter homes hitting the market.

 

MILLENNIALS WILL MAKE UP LARGEST SEGMENT OF BUYERS

“The housing market in 2019 will be characterized by continued rising mortgage rates and surging millennial demand,” according to Odeta Kushi, senior economist for First American. “Rising rates, by making housing less affordable, will likely deter certain potential homebuyers from the market. On the other hand, the largest cohort of millennials will be turning 29 next year, entering peak household formation and home-buying age, and contributing to the increase in first-time buyer demand.”4

Danielle Hale, chief economist for Realtor.com, predicts the trend will continue. “Millennials are also likely to make up the largest share of home buyers for the next decade as their housing needs adjust over time.”6

What does it mean for you? If you’re in the market for a starter home, prepare to compete for the best listings. And if you plan to sell a home in 2019, be sure to work with an agent who knows how to reach millennial buyers by utilizing the latest online marketing techniques.

 

WE’RE HERE TO GUIDE YOU

While national real estate numbers and predictions can provide a “big picture” outlook for the year, real estate is local. And as local market experts, we can guide you through the ins and outs of our market and the local issues that are likely to drive home values in your particular neighborhood.

 If you’re considering buying or selling a home in 2019, contact us now to schedule a free consultation. We’ll work with you to develop an action plan to meet your real estate goals this year.

 

START PREPARING TODAY

 

If you plan to BUY this year:

  1. Get pre-approved for a mortgage. If you plan to finance part of your home purchase, getting pre-approved for a mortgage will give you a jump-start on the paperwork and provide an advantage over other buyers in a competitive market. The added bonus: you will find out how much you can afford to borrow and budget accordingly.
  2. Create your wish list. How many bedrooms and bathrooms do you need? How far are you willing to commute to work? What’s most important to you in a home? We can set up a customized search that meets your criteria to help you find the perfect home for you.
  3. Come to our office. The buying process can be tricky. We’d love to guide you through it. We can help you find a home that fits your needs and budget, all at no cost to you. Give us a call to schedule an appointment today!

 

If you plan to SELL this year:

  1. Call us for a FREE Comparative Market Analysis. A CMA not only gives you the current market value of your home, it will also show how your home compares to others in the area. This will help us determine which repairs and upgrades may be required to get top dollar for your property, and it will help us price your home correctly once you’re ready to list.
  2. Prep your home for the market. Most buyers want a home they can move into right away, without having to make extensive repairs and upgrades. We can help you determine which ones are worth the time and expense to deliver maximum results.
  3. Start decluttering. Help your buyers see themselves in your home by packing up personal items and things you don’t use regularly and storing them in an attic or storage locker. This will make your home appear larger, make it easier to stage … and get you one step closer to moving when the time comes!

 

 

 

Sources:

  1. Freddie Mac Economic & Housing Research Forecast –
    http://www.freddiemac.com/research/pdf/201811-Forecast-04.pdf
  2. National Association of Realtors 2019 Forecast –
    https://www.nar.realtor/newsroom/2019-forecast-existing-home-sales-to-stabilize-and-price-growth-to-continue
  3. Bankrate 2018 Year in Review –
    https://www.bankrate.com/mortgages/year-in-review-for-housing-market/
  4. Forbes 2019 Real Estate Forecast –
    https://www.forbes.com/sites/alyyale/2018/12/06/2019-real-estate-forecast-what-home-buyers-sellers-and-investors-can-expect/#a98b80a70d9a
  5. Mortgage Bankers Association Forecast –
    https://www.mba.org/2018-press-releases/october/mba-forecast-purchase-originations-to-increase-to-12-trillion-in-2019
  6. com 2019 National Housing Forecast –
    https://www.realtor.com/research/2019-national-housing-forecast/
  7. FOX Business –
    https://www.foxbusiness.com/personal-finance/where-mortgage-rates-are-headed-in-2019

 

 

   

 

March 2, 2019

Whats Your Home Actually Worth?

 

What’s Your Home Actually Worth? Discover What Buyers Will Pay in Today’s Market

It’s easy to look up how much money you have in your savings account or the real-time value of your stock investments. But determining the dollar value of a home is trickier.

As a seller, knowing your home’s worth helps you price it correctly when you put it up for sale. If you price it too high, it may sit on the market. But price it too low and you may be losing out on a good chunk of money (nobody wants that!). For buyers, it’s important to know a home’s worth before you make an offer. You want your offer to be competitive, but you don’t want to overpay for the property.

Even if you’re not a buyer or seller right now, as a current homeowner you might just be curious about the value of your home. Keeping track of your home’s worth year over year helps you understand the trends in your market. So when you are ready to sell, you can take advantage of a good window of opportunity.

The good news is, a trained real estate agent—who understands the nuances of your particular neighborhood—can determine the true market value of your property … and at no cost to you!

 

THE THREE TYPES OF HOME VALUES

When you start the process of buying or selling a home, you’ll frequently hear the words appraised value, assessed value, and true market value. It’s important to know the difference between each one so you can make better, informed decisions.

 

Appraised Value

A professional appraiser is in charge of determining the appraised value of a home. These appraisals are typically required by a lender when a buyer is financing the property. And while the lender is the one requiring this information, the appraiser does not work for the lender.1 Your appraiser should be an objective, licensed professional who doesn’t have allegiance to the buyer, seller, or lender—no matter who is paying their fee.

The number the appraiser comes up with (the appraised value) assures the lender that the buyer is not overpaying for the property. For example, imagine a seller lists a home for $400,000. They reach a deal with the buyer to sell the home for $375,000. However, if an appraiser evaluates the property and determines that the appraised value is actually $325,000, then the lender will not lend for an amount higher than that appraised value of $325,000.2

When figuring out this number, an appraiser will compare the property to similar homes in your neighborhood, and they’ll evaluate factors such as location, square footage, appliances, upgrades, improvements, and the interior and exterior of the home.  

 

Assessed Value

The assessed value of a home is determined by your local municipal property assessor. This value matters when your county calculates property taxes each year. The lower your assessed value, the less property tax you’ll pay.3

To come up with this value, your assessor will evaluate what comparable homes in the neighborhood have sold for, the size of your home, age, overall condition, and any improvements or upgrades that have been made. However, most assessors don’t have full access to your home, so their information is limited.

Assessments are done annually to determine how much property tax you owe. Many counties use a multiplier (typically between 60%-80%) to calculate the final assessed value. So, if the assessor determines that the value of the home is $300,000, but the county uses a 70% multiplier, the assessed value of the home would be $210,000 for tax purposes.4

If your assessed value isn’t as high as you envisioned, don’t sweat it. Many homeowners appeal their assessment in favor of a lower valuation so that they can save money on property taxes. If you’re interested in appealing your property tax assessment, let us know. We offer complimentary assistance and would be happy to help you build your case.

 

True Market Value

True market value is established by your real estate agent. It basically refers to the value that a buyer is willing to pay for the property. A good real estate agent is an expert in determining true market value because they have hands-on experience buying and selling properties. They understand the mindsets of buyers in your market and know what they’ll pay for a desirable house, townhouse, or condo.

As a seller, knowing your true market value is important because it helps you choose how much to list your property for. It can also help you decide if you want to make any improvements to your home before putting it on the market. Your agent can help you figure out which updates and upgrades will have the biggest impact on your true market value.

 

WHAT’S THE DEAL WITH ONLINE CALCULATORS?

When figuring out your home’s value, you might be tempted to see what popular real estate sites like Zillow, Redfin, and Trulia have to say. When you use an online calculator to determine your home’s value on these sites, it is just an estimate. It’s not an actual appraisal or the “true market value.” These sites all have their own algorithms for coming up with their estimates. For example, Zillow comes up with their “Zestimates” by calculating “public and user-submitted data, taking into account special features, location, and market conditions.”5

These online estimates can be a great starting point for opening up the conversation with your real estate agent about your home’s worth. But even Zillow recommends that you use a real estate agent for coming up with the actual market value of your home. The site says that once you get your “Zestimate,” you should still get “a comparative market analysis from a real estate agent.”

Having an agent involved in this process is essential because they understand the market better than a computer ever could. They’re showing property in your city every single day, and they know the particular preferences of buyers and sellers in the area. Young professionals, large families, empty nesters, and other groups are all looking for different things in a home. A local agent has most likely worked with all of them, so they understand what every segment in your market is specifically looking for.

 

 

HOW AN AGENT FINDS YOUR HOME’S TRUE MARKET VALUE

So, how does an actual real estate agent determine true market value? They’ll start by doing a comparative market analysis (CMA). This means they’ll compare your home’s features to similar properties in your area. For the CMA, the agent looks at the below factors to influence their assessment of your home’s worth:6

 

  • Neighborhood sales – Your agent will look at similar, recently sold homes in your neighborhood to see what they sold for and what they have in common with your house.

 

  • The exterior – What does your home look like from the outside? Your agent will factor in curb appeal, the style of the house, the front and backyard, and anything else that impacts how the house looks to everyone walking and driving by.

 

  • The interior – This is everything inside the walls of the house. Square footage, number of bedrooms and bathrooms, appliances, and more all influence the overall market value.

 

  • Age of the home – Whether you have a newer or older home affects the number your agent comes up with as part of their assessment.

 

  • Style of the home – The style of your home is important because buyers in different markets have different tastes. If buyers prefer ranch-style homes and you have one, then your home may sell for a premium (aka more money!).

 

  • Market trends – Because a local agent has so much experience in your market, they have their finger on the pulse of your area’s trends and know what buyers are willing to pay for a property like yours.

 

  • Location, location, location – This one’s probably the most obvious. Your agent will think about how popular the area is, how safe it is, and what schools are like.

 

A computer algorithm simply can’t take all of these factors into account when calculating the value of your home. The reality is, nothing beats the accuracy of a real estate agent or professional appraiser when it comes to determining a home’s true market value.

 

YOUR AGENT IS THERE EVERY STEP OF THE WAY

Determining a home’s true market value is a real estate agent’s forte. If you’re a seller, your agent will help you find your home’s market value so you can list it at the right price.

For buyers, your agent will help you determine the value so you can come up with a fair offer. Your agent can also set up a personalized home search on the Multiple Listing Service (MLS) for you so you’ll receive emails of listings that meet your criteria. This will help you see what’s out there in your city and how properties are being priced.

 

Get a Complimentary Report With Your Home’s True Market Value

Curious about your home’s true market value? Call us to request a free, no-obligation Comparative Market Analysis to find out exactly how much your home is worth!

 

Sources:

  1. Chicago Tribune – https://www.chicagotribune.com/suburbs/chi-ugc-article-what-is-the-difference-between-market-value-a-2013-09-30-story.html
  2. SFGATE – https://homeguides.sfgate.com/market-value-vs-appraised-value-1206.html
  3. ValuePenguin – https://www.valuepenguin.com/mortgages/what-is-the-assessed-value-of-a-house
  4. Movoto – https://www.movoto.com/blog/homeownership/assessed-value-vs-market-value/
  5. Zillow – https://www.zillow.com/how-much-is-my-home-worth/
  6. Realtor.com – https://www.realtor.com/advice/sell/assessed-value-vs-market-value-difference/