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.