So....... how much is my home worth?

Dated: June 4 2020

Views: 456

We are seeing a trend emerge now as life is slowly returning to normal, Quarantine has convinced a lot of homeowners that they need a new home. 

"My house is too small"
"We need a bigger backyard"
"I need a home office"
"We are expecting a baby!"

We are hearing resounding feedback from our network that homeowners need more space, from more bedrooms to larger backyards and everything in between -- and they want it all now. 

After we are told the (numerous) reasons our clients need and want a new home we can always anticipate the next question........
So....... how much is my current home worth?

Davids & DeLaat's stance on home pricing is to provide our clients with an informed and accurate evaluation of your property. After all - your home's value is a direct representation of your overall financial health as it usually represents the largest asset you own. Understanding your home's true value prepares you to buy, sell, refinance, tap into your home’s equity, or even negotiate lower property taxes.

"I don't need a realtor to tell me the value of my home, I already know the value of my home. I can see what houses are listed for sale currently in my neighbourhood."

That may be true, but you don't see what those houses are selling for, how long they are taking to sell if price changes have occurred or in some cases - that the sale never happened.  A sign coming down doesn't always mean the seller got the price they were looking for. In some cases, the owners are not able to find a buyer willing to offer the price they were seeking. 
Let's not overlook another important detail when it comes to evaluating a home's current value.  That important detail is the details themselves. Just because the property next door sold doesn’t mean it’s a comparable property. You may know what the listing prices for houses currently for sale in your neighborhood, but it's crucial to take into consideration the size, the finishes, the upgrades, and the potential downsides to a home.  When it comes to finding the true value of your home, you must employ an “apples to apples” approach. Think about which properties would interest a buyer if yours weren't available. That means comparing properties that feature a similar size, condition, and upgrades.

When it comes to providing you with an accurate assessment of your property, we do quite a bit of homework.  Using public records like property transfers, deeds of ownership, and tax assessments along with some mathematical modeling assessing:
Market: The region, city, and neighborhood in which a home is located.
Property: Characteristics of the house, including improvements and the land it sits on.
Comparable properties: Sales, listings, vacancies, cost, depreciation, and other factors for similar houses in the same market. 
We use all these details combined with our years of expertise and award-winning market knowledge to offer you a true and accurate assessment of your property and predict your home’s true value. 
We are extremely proud and honored to be Niagara Region's #1 Real Estate Team for the 2nd year in a row. At Davids & DeLaat, client satisfaction and 5-star customer service comes first. We are honest advisors and have earned our high client retention rate because we genuinely love real estate & always goes above and beyond the call of duty to help anyone with their real estate needs. 

Davids & DeLaat will take the guesswork out of evaluating your home's current value and ensure you are provided a clear and accurate depiction of your home's current worth based on its current competitive market valuation. 

Thinking its time to move? We can help with that.
Call Davids & DeLaat today for a COMPLETELY FREE and NO OBLIGATION home equity check.
Blog author image

Sheena Cimino

With a multifaceted history in digital media that spans more than a decade, Sheena brings a wealth of knowledge and strategy to the Davids & de Laat team. Her impressive background and keen eye for de....

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