Home Valuation - Best Practices for Accurate Results
Establishing the right asking price is a critical part of the home selling process. Valuation is the act or process of valuing; specifically : appraisal of property. There are many techniques that are used to determine the value of a property.
Most brokers valuate your home by taking an average of what's currently on the market. This type of valuation takes a few comparable homes and in a few sentences, justify whether that home has superior or inferior aspects and modify the price. This valuation method is something that anyone can do—do not let this type of valuation be used on one of your biggest assets. This model can be preventing you from getting the maximum value of your home.
At the Stark Real Estate Group, using a comparative market analysis only one of FIVE ways we determine a home’s value. Our team dives a bit deeper in order to determine the most accurate value of your home.
We do an appraisal style analysis that is backed by almost thirty-years of experience in the professional real estate field. We take each comparable home and analyze specific features of your home and the comparable to establish an accurate pricing judgement. This detailed and comprehensive study ensures we receive as much value out of your home as possible.
You’re home is evaluated based on the following:
Market - The specific area or location including the city and neighborhood of the listing.
Property - Special characteristics of your home including any home improvements and the specific setting of land.
Comparable properties - Taking into consideration other home listings, vacancies, sales and depreciation for similar homes in your market.
Does this seem overwhelming? Contact Stark Real Estate Group for your FREE valuation — we do this comprehensive report at no cost to you!
A Note on the Pandemic
Each market has been affected differently: we send out a weekly market report to show the overall updates to the Colorado Real Estate markets, each market has been affected differently. The governor has recently allowed home showings; wwe take into consideration every precaution including wearing masks and bringing disinfectant wipes. With these recent updates, the market is the most normal that it has been in weeks. Real Estate has always been an essential business and this should not keep you from buying/selling your home.
Please, as always, feel free to reach out with any questions or concerns regarding the market or your home’s valuation whether you are looking to buy/sell or not.
Beware of cash buyers that include “we buy ugly homes” signs
The proposal includes an as is offer of your property, taking the property off your hands. The benefit they tout is that you won’t have to go the traditional sales method that includes time and the use of a licensed real estate agent.
These types of companies claim to help motivated sellers unload their properties for an immediate cash exchange. If you’re looking to ditch a real estate agent, who is working for your best interest, avoiding closing delays and other minor set backs, a company like We Buy Ugly Houses is the place people are turning to.
Why do you need to sell your home for immediate cash? Is there something to make your property more marketable so that you don’t have to lose money and resort to a quick sale?
Typically, these types of real estate investors only offer 65%-85% of the total value of your property. What sellers need to understand is that an agent provides value and could potentially get more than twice as much for your property than the quick to buy cash offers. That’s potentially leaving a lot of money on the table!
If you are desperate to sell, do not fall victim to this scam where someone else takes advantage of the equity in your property.
Know that these services are not necessary. If your property needs fixes there may be some costs up front but a professional, experienced realtor will have the abilities with resources and vendors to help with any services that may be necessary to get the most value from your investment. Financing options are always available for these fixes if needed and in the long run, it will contribute to adding value and in the long run, more money from the sale of your property.
The reassurance of working with a professional real estate agent and former certified appraiser, you will, in the long run, receive more money from the sale of your house. You will know that you’re working with a group that is bound by rules and laws and has your best interest in mind. Beyond just a steep cut in sales from your property selling to a cash buyer, you may lose much more from opting for that quick sale.
If you do decide to entertain a cash offer, let a licensed Real Estate Agent review your offer. Working with a qualified professional will ensure you get the most out of your investment. At the very minimum, find out what your property value is on the open market.
Stark Real Estate Group offers free valuation of your home. We will show proof of bottom line pricing and value of your home. Stark Real Estate Group also has a recommendation list of contractors that are well respected and professionals in their industry and even has an on-staff certified appraiser. You stand to get more money and face less risk from the sale of your home in the long run.
At the very least, bringing in a real estate professional costs you nothing and could bring you thousands of dollars on your sale.
Beware of investors who rob you of your equity!
Don’t leave equity on the table by selling to investors who come knock on your door. Call Rob first! He will prepare a detailed complimentary market analysis. Our goal is to preserve your equity, getting the best possible price based on complete and professional market research.
Online and off the cuff estimates are no substitute for real research.
Call Stark Real Estate Group and we will analyze your offer at no cost or obligation.