We often get questions from potential sellers trying to figure out what their homes could sell for in the current market. They bring up their most recent tax assessment or a number they’ve found online such as Zillow’s Zestimates as an indicator of the best price to list their homes. Both of these numbers focus on very generalized data, not taking into consideration the specific things that potential buyers consider valuable. The visit from the annual tax assessor doesn’t involve a trip inside your home, so all they base their assessment on how it compares to the homes around it.
Home prices are a living thing, changing day to day based on buyer demand for a specific product. When determining the value of your home, you must take into account several factors that influence home buyers:
Market value comes down to many factors and can be influenced by marketing tactics. Make sure you bring in a professional with knowledge not only about your neighborhood, but also current buyer habits, what upgrades are considered a premium, and how to highlight the unique value proposition you have available to sell. The value of your home is much more than just comparing generalized data. It’s an ever-changing thing that relies on many different factors that can change on a daily basis, so make sure you use an expert to help you not only determine your home’s value, but also put you in the best position to increase that value to the max.