Do you know how to determine the true value of your home in Pensacola? Whether you are selling your house or not, its a good idea to keep tabs on the value of your home. We can help! Learn how to do it in our latest post!
Welcome to sunny Pensacola! Sitting just at the top of Florida’s western border, it’s a beautiful place to call home all year round. But, if you’re thinking of selling your home, it can be hard to figure out the true value of your abode without doing the right measurements. And not knowing how to evaluate can lead you to be blindsided on what to expect from the home sale.
Many sellers think they know what their house is worth but in many cases, their numbers can be off. It is never as simple as relying on Zillow or your property appraiser to tell you how much to sell your house for. Before you decide whether to sell your house directly or hire an agent, you’ll want to determine on your own what you believe it to be worth. There are a few things you can do to get an accurate value of your house in Pensacola.
Run A CMA To Know The Value Of Your Home
Comparative Market Analysis sounds like a mouthful, but it’s one of the best ways to estimate the value of your home. The is simple and accurate. And is straightforward.
A Competitive Market Analysis or CMA, are often prepared by real estate agents, however, it isn’t anything you can’t do on your own. A CMA will take information from recently sold properties in your area, and provide you with an estimate on what your house will currently sell for.
The information can be found on any site that shares MLS data such as Zillow or Trulia. You should look at at least three similar properties, comparing them to yours, and adding and subtracting for things like the number of rooms, lot size, and square footage. Average out the sale prices to determine a good base point for the value of your house in Pensacola. Many agents will provide you with a CMA free of charge. Just make sure there isn’t a catch, obligating you into a listing you don’t really want or need.
At Quality Properties Of Northwest Florida LLC, we can give you the true value of your home too. We have the most comprehensive tools and software to come up with houses sold recently anywhere in the US. This is how we’re able to give offers on houses in Pensacola or anywhere in the country. We can help you if you planning on selling your home too!
Use Online Valuation Tools
There are various online valuation tools out there that can help you with the value of your home. Some of the best include Zillow, Redfin, and Realtor.com These online tools check the current state of the real estate in your area, public property records, local market trends, and current sales to give you an accurate estimate of your home’s current worth.
Here’s an important note. These websites only should be taken as a guide only but not as the main valuation tool for your home. Just because these websites don’t update the current house upgrades, renovations that have been done to the home, or recent changes in your neighborhood! Therefore, comps for the recent homes sold in the area can give you the best valuation.
There are many great tools out there that will help you determine the value of your home. These calculators can only work based on the information you provide, so make sure your facts are accurate. Some of the sites you can use include Chase, Zillow, Redfin, HomeGain, Remax, and Realtor.com.
Make sure to look at a few of these sites, so you can compare the numbers and determine an average. No site is completely fool-proof, and your value might vary a bit from site to site. The calculators may tell you one thing, but at the end of the day it really comes down to supply and demand.
Hire An Appraiser
A home appraiser is a professional who values properties. They are certified and highly trained to assess all aspects of your house, including location, size, condition, and improvements. Appraisals can be costly but can help you get a very accurate price.
When you are still questioning the value of your property, hiring an appraiser can give you the professional opinion you need. An appraisal can be performed for just a few hundred dollars and will give you valuable insight into the value of your home.
Before choosing an appraiser for your property, take some time to do some research. What are their experience levels and specialties Many sellers will schedule appraisals and inspections before putting their homes on the Pensacola. This will help them know what their property is worth and what challenges they might run into once a buyer is found.
A professional appraisal can also help if you are challenging the about you are being assessed for property taxes. Many times people will feel as if they are being charged too much for their Pensacola property taxes. Having an appraisal done by a licensed Pensacola area appraiser will help you effectively challenge your local property appraiser if needed.
Watch The Market
Property values fluctuate. You can ofter discover trends when you study home values over time. Your property may be worth more in the summer than it is in the winter, or vice versa. While this isn’t true for every property, some property values will fluctuate based on the season, demand, and availability.
As a homeowner, it’s important to always keep your eye on the market. This will help you sell at the time of year that will be the most profitable for you so you can sell your house for as much as possible.
What To Watch Out For…
Keep in mind that it is not unheard of for an agent to inflate the asking price in order to get a signed agreement. By knowing the value before going into a sale, you will have the upper hand and will ultimately be able to receive the best outcome when selling your Pensacola house.
Don’t forget about the land your property is sitting on. Some locations are more valuable than others. While double and triple lots will be worth much more. Make sure the land is buildable and doesn’t have any problems that can lower the value of your property.
If you opt to have an agent create a CMA for you, make sure all of the data provided is correct. You’ll want to check everything out for yourself to ensure accuracy in your valuation.
Work With Cash Home Buyers
As they say. Keep the best for last. While this is not for homeowners who want to evaluate their homes to sell on the market with an agent. But it’s for who are looking to evaluate their home if they want to sell it in AS-IS condition. Cash home buyers are individuals or firms that purchase homes for cash. Like our trusted home buyer company Quality Properties Of Northwest Florida LLC. They often look for homes that they can purchase in poor condition but are still based in desirable areas.
The cash home buyers aim to buy low, invest in fixing up the property, and then resell it for a higher value. While cash buyers can provide a fast and straightforward sale, their offers are often below market value, so ensure that you consider all your options before agreeing to anything.
Regardless of the way you decide to take to evaluate your home. It’s important to understand that it’s a crucial step you need to take when it comes to selling your home A sound valuation helps ensure you get the right price for your property and can help you move on to your next adventure too.
What did you think of our five ways to determine the true value of your home in Pensacola? Whether you are selling your home yourself, working with a realtor, or just want to start planning your next move, there’s a valuation method that will work for you. Happy selling!