Selling a home that you have lived in for many years, raised a family in, and made plenty of great memories in is a tough decision. When you finally decide that the time is right to sell so that you can move forward with your lives, there will be lots of other considerations and factors that you will be thinking about until the final closing papers are signed.
One of those factors is figuring out your asking price. The asking price is not a number that you simply pull out of thin air; rather, it is a calculation that should be made after taking several different factors into account. This includes your estimated home value in Bel Air. Knowing your home’s value will help you to determine what the most reasonable and profitable asking price will be for your home.
Keep in mind that the asking price is one of the very first things that a home buyer will look at to determine if your home is right for them. If it is within their price range, then they will look at the other facets of your home. To make sure your asking price is reasonable but also gives you a healthy profit after the sale, you need to know your estimated home value in Bel Air. Having this figure will also make sure you can properly budget for closing costs, repairs, and other important expenses related to selling a home.
Estimated Home Value in Bel Air Is Impacted by These Factors
For the average home seller, there are 3 main factors that will have an impact on your estimated home value in Bel Air. Before deciding on a listing price for your home, be sure you have thought about these factors and update your estimate accordingly.
As with most things that have to do with money, the local and national economy will have an effect on your estimated home value in Bel Air. If and when the economy changes, the value of homes also changes, especially when conditions such as high interest rates, inflation, recession, and unemployment exist. These conditions can have a very noticeable impact on estimated home value in Bel Air since the overall health of the housing market and the economy are so closely intertwined.
Before you ever list your home, make sure you have thoroughly analyzed the current economic conditions in Bel Air and the rest of the country. These conditions can be detrimental to your success in the real estate market. If, for instance, interest rates skyrocket, then home buyers will be forced to pay much higher mortgage payments for the same house. This could lead to home buyers postponing their investments until the interest rate decreases again.
For home sellers, those interest rate hikes could cause a severe decrease in the value of homes as well as the asking prices for those homes. It is certainly not in your best interest to list a home during a poor economic time. Remember, if homes in your area that are comparable to your own property lower their asking prices, your home’s value may decrease as well.
The city in which you live will also influence your estimated home value in Bel Air. Things like commute times, proximity to schools, crime rates, and other factors specific to your location will have an affect on your home’s worth.
Commute times, for instance, may be much more important to a young professional, and that person may be more willing to pay a higher price for a shorter commute. A family, though, will be more interested in a house that is close to good school districts, and the commute is unlikely to affect them.
Neighborhoods, too, will impact the value, especially when it comes to crime. If crime rates are higher, the home prices will inevitably be lower. That is why it is important to keep location-based factors in mind when figuring out your home’s current market value.
Condition of the Home
The last factor that can influence the home’s value is the overall condition of the house itself. While there are some things about the house that you cannot change such as the age of the building or the square footage (unless you are investing in an addition), you can definitely influence the value by maintaining the pristine condition of the house at all times.
Whenever there are repairs or maintenance items to be done, be sure to complete them as soon as possible. You could also consider investing in upgraded appliances or something more modern such as smart home technology. This can greatly elevate your home’s value and make it more appealing to home buyers. The condition of the house needs to be great if you are hoping to get top dollar for it.
You Can Figure out Your Estimated Home Value in Bel Air in 3 Ways
So, how can a regular homeowner find out the value of their home before they decide to list it on the market? It can be a challenge to answer this question, especially if you are new to the home selling process. There are 3 ways that have become the standard for home sellers like you to determine their estimated home value in Bel Air: online tools, realtor analysis, and professional appraisers. Read on to find out more about each one.
1. Online Tools
When you need a basic starting point for determining your estimated home value in Bel Air, you can work with online tools such as the Zillow Zestimate or realtor.com. These sites can give you an initial estimate at the start of your journey, but you should definitely get another estimate to confirm the figure since these sites are often quite inaccurate.
The inaccuracy is caused by the fact that they are not localized or tailored to your specific market. They use basic, widely available information to determine a home’s value, but they cannot get the most up-to-date information like a realtor or appraiser can. Also, they cannot incorporate the value of off-market homes into the valuation because they do not have access to that information.
Finding a localized estimation tool can be quite difficult and actually getting an accurate estimated home value in Bel Air can become frustrating. Thankfully, the team at Your Home Sold Guaranteed Realty - Vinny Steo has developed the free home value calculator to determine how much a home is worth in a specific market.
We guarantee the most accurate estimated home value in Bel Air because it uses our updated databases to create the estimate. This is why you can rest assured that your home valuation is based on reliable, up-to-date information. All you have to do is provide some basic information about your home, and the calculator will do the rest!
2. Realtor Analysis
Working with a realtor is never a bad idea when you are getting into the real estate market. As a home seller, your realtor can help you get the most accurate information you need before you sell your home or list it for sale.Having the input of a realtor and getting their estimate will provide you with a very firm foundation from which you can determine your asking price with confidence.
To complete the valuation, our realtors will perform a comparative market analysis. This includes finding recently sold and currently listed homes in the area that are comparable to your home in order to determine an estimate for your property. It is thorough and far more effective than the typical online tools available for the public.
3. Professional Appraiser
A professional appraiser is the best way to get a 100% accurate home valuation (not simply the estimate) because they use their expertise to incorporate all necessary influencing factors for the value. They will consider the home’s condition, the city, comparable properties, and the condition of the overall real estate market to create their report.
When a home buyer is interested in buying your home, their lender will usually require them to hire an appraiser to evaluate your home before they will approve the mortgage amount. This shouldn’t stop you from hiring your own appraiser to make sure you have a clear idea of your home’s value and to compare with the home buyer’s appraisal.
We Will Get You Top Dollar for Your Bel Air Home
Whenever you are ready to make the leap into the real estate market as a home seller, be sure you have all of the information and resources you need to be successful. Determining the asking price is one of the most crucial initial steps, and you cannot do so without knowing your estimated home value in Bel Air.
To help you through every step of the process, including determining your asking price and home value, our team at Your Home Sold Guaranteed Realty - Vinny Steo is ready to be of assistance. We have vast experience selling homes in the area, and we are ready to give you the benefit of our skills and expertise. With us, you will sell fast and get top dollar for your home, and this all starts with finding out the estimated home value in Bel Air.
Clients rely on our team because of our exceptional customer service, legendary selling speed, and unique seller guarantees. We offer the Guaranteed Home Sale Program to ensure that your home sells in your preferred time frame. How can we guarantee it? Because if it doesn’t sell, we will buy it ourselves!
If you are interested in our guarantees, using our free home value calculator, or simply getting some more information about estimated home value in Bel Air, be sure to give us a call at 410-220-0016 or fill out the form on this page with the requested information. You can also visit our office.
One of our skilled realtors will send you a detailed response as soon as possible. We look forward to hearing from you!