How Are Home Values Calculated?

How Home Values Are Calculated - CashHomeBuyersPhoenix.com

How Are Home Values Calculated?

Appraisals of any home can be incredibly difficult, especially if you are looking to sell your home as is for cash for the quickest turnaround. The best thing you can do in this instance is to identify how these home values are calculated, determine the true value of your home, and use this information to negotiate more effectively.

Step One: Study

The local housing market is your best bet to determine a cost for your home. Finding a comparable piece of property, similar square footage, layout and features that are around the same age can be exceptionally beneficial as the majority of these homes have been professionally appraised before being listed on the market.  Taking the average of three of these properties less any repairs that need doing to the property is a good way to determine a selling price.

Step Two: Market

The market is another factor that drives price in real estate. The oldest rule of economics, supply and demand, is no different in the instance of a cash sale. If there are fewer homes with certain features in the area for sale, people will likely pay more for it. Taking into consideration location, room size, appliances, and amenities, review the property from a third party perspective and see what you would reasonably discount. If the property needs work, roof needs replaced, and driveway is cracked, you should deduct the average cost of repair on these from the average selling price.

Determining the value of your home can play to your advantage in negotiation on your Phoenix, Arizona home. Take your time, be patient, and work with those who are willing to make offers by building value in the property, and before you know it, you will be receiving a cash offer on your home!

 

Want to know what your home is worth right now, in cash? Contact us today and our team will get to evaluating your home immediately! If you like what we offer, you can get paid in one lump sum… and in cash!

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