This is the ultimate question every Arizona home seller wants an answer too. Is my house worth more than my neighbors? While it’s a simple question, it’s a complex process to get to the simple answer.
The short answer is “Your house is worth whatever someone else is willing to pay for it.” We can help you determine value.
Are you thinking of selling your Phoenix, Glendale, Peoria, Sun City, Surprise, Goodyear, or Avondale home? We sell West Valley Homes.
What Are Comps
To determine the value of a house, an appraiser or an agent will typically look at three comparable sales, or “comps” as they are known in the real estate industry.
The properties that have been sold already are the key. To determine your house value, you need to find homes that are similar in size, condition, and location. The theory behind value is that your home is worth whatever others would be willing to pay for it – and the best way to determine how much people are willing to pay is by discovering how much they’ve paid for similar homes in your neighborhood and the surrounding community.
Using Comps to Determine Value
However, obviously every home is different, with features that make the home more or less desirable. For example, a three bedroom house is probably worth more than a similar home in the neighborhood with only two bedrooms, just as a two car garage is worth more than a one car garage. So, to determine a house’s value, that's where I come in.
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Peggy Elias with HomeSmart Realty is dedicated to getting home sellers the most amount of money in the quickest amount of time with the least amount of hassle. There are NO FEES AND NO OBLIGATIONS to the home seller for letting me explain how I will get your home sold fast. Let me give you a free no obligation Comparative Market Analysis and see how much your home is worth.
Find out Your Arizona Home's Value in TODAY'S MARKET!