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Did you know there are three different ways to determine the value of your home? If you plan on selling your home in the near future, this is crucial information.
10 Online: We have a link that will take you to a website that will use your address to find recent comparable sales in the area. The numbers are plugged into an algorithm to come up with a low average and a high average. This is all based on assumptions of the condition or quality of your home and is the least accurate way to find the value of your home.
2. Appraisal: This is done by a licensed appraiser with the state of Washington. Appraisers simply put a value on properties, they don’t sell them. They use the comparable sales approach, taking a look at the age, location, and size, among other things, of recently sold homes in the area to come up with a value for your home. Lenders use this approach when you go to refinance your home.
3. Broker analysis: The final way to find your home’s value is to have an expert broker, like myself, come out and give you a comparable market analysis. We do exactly what the appraiser is going to do, but also look at what your home will sell for now given current competition and other market conditions.
If you’re curious about the true value of your home, don’t hesitate to reach out to us. We would love to help you achieve your selling goals.