If you own a stock, you can probably go online and quickly look up its current value.
What about your home? That, too, is an important investment and probably your most valuable one. Wouldn’t it be nice if you could “look up” its current value in just a few minutes?
Well, despite all the real estate data available on the internet these days, there is no site that will calculate your home’s true market value – at least not accurately. So, if you were to put your home up for sale tomorrow, how would you determine what it would likely sell for?
Your home’s probable selling price is influenced by the following factors:
- The type and style of your home.
- The condition of your home. (Is it “move in” ready?)
- How well your home shows? (Is it staged?)
- The desirability of the neighborhood.
- Recent selling prices of similar homes in the area. ("Comps")
- The current demand for a home like yours.
All these factors, especially the selling price for homes recently sold in your area, need to be considered in order to come up with the price range within which your property will likely sell. Why is this information important? If you plan on listing soon, the benefits of knowing the probable selling price are obvious. But even if your plans to move are far down the road, it’s still a good idea to track what your home is worth. That information enables you to plan ahead and make better decisions. It’s something worth thinking about.
The views, information, or opinions expressed in this article are solely those of the author and do not necessarily represent the views of Citizens State Bank and its affiliates, and Citizens State Bank is not responsible for and does not verify the accuracy of any information contained in this article or items hyperlinked within. This is for informational purposes and is no way intended to provide legal advice.