June 10

How to Determine the Value of Your Home

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Selling “as-is” can net homeowners between 75% and 95% of their home’s value. That’s not a bad price for those with an urgent need to sell. But you earn more negotiating power for your sale by knowing the value of your home.

As you source offers, knowing what your home is worth will help get you the best deal possible. This seemingly arduous task is simpler than you may think. Follow along to learn how to determine the value of your home.

Check Your County Tax Appraisal

Figuring out how to determine the value of your home is as simple as a trip to your county assessor’s office. A county tax appraisal denotes the “assessed value” of your home. These assessments base the assessed value on a percentage of the fair market or appraisal value of your home.

Professional appraisers appointed by the county answer the question, “how much is my home worth” by applying appraisal standards to a visual inspection of the home. They take into consideration determining value factors for a home’s worth to give an estimated price.

The county uses this value to determine property taxes each year. You can check the county tax appraisal online by searching for “[your county name] Central Appraisal District” and doing a property search for your address.

How to Determine the Value of Your Home Using Market Research

You cannot stand on your front porch yelling “what is my house worth” and expect a response. Like all good data, real estate value requires some digging. But, researching your home value doesn’t have to be a complicated or long process.

Start by scoping out homes for sale in your neighborhood. Visit an open house to see the interior of comparable homes near yours. Cross-reference their prices to get a good idea of your home’s value.

There are also a few tools at your disposal to help you in your research. Try any of the following options to get a home value estimate right away.

Assess Comparable Prices Using Online Tools

A great way to start valuing your home is by using online real estate databases that compile sales data. You can find many of these sites online. Some popular examples include:

Inputting your address into one of these databases will give you estimated values for your home and those in your neighborhood based on other local sales prices. While not 100% accurate, they’re a great way to get a ballpark figure without having to pay a professional appraiser or realtor.

It is important to note that not all houses are created equal. Things like square footage, number of bedrooms, location, and surrounding properties are just some of the many factors that determine a homes value. So there is no guarantee that your house is worth the same as any of your immediate neighbors.

Get a CMA From a Realtor

CMA stands for “competitive market analysis.” Realtors and appraisers create CMA reports to make estimations of property value based on market trends and assessments.

While some realtors don’t charge for CMAs, others may charge up to around $200 for one. However, you will receive an accurate assessment of your home’s current value from it.

Request an Offer From a Local Home Buyer

If you’re looking for a quick way to get a general estimate on your home, try requesting an offer from a local home buyer. These services make it easy for you to submit basic information about your property and then have agents contact you with their offers.

Local offers can give you an idea of what your house is worth in today’s market. Moreover, if they suit your needs and can buy right away, you can begin negotiating and selling directly with the home buyer!

Sell Your House Fast in Austin, Texas with Lisa

Now that you know how to determine the value of your home, it’s time to start fielding offers! Get started today with Lisa Buys Austin Houses.

Our name says it all. We want to make your home buying experience quick and stress-free. That means, we buy your home with zero cost to you: no closing fees, no repair fees, no unexpected expenses.

If you need to move your Austin home in a jiffy, get in touch with Lisa today. Fill out our online contact form or stop in for a chat at our office at 403 Sunfish St, Lakeway TX.

Let's get started on your all-cash offer!

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