Thinking of selling your house but you do know how to go about calculating the true value of your house? Of course, most people know that this is rarely the selling price – so why set an asking price at all? Certainly, paying a professional to conduct an appraisal is the best way to go about calculating the true value of your house in Weatherford. But the expense wouldn’t be justified if you aren’t ready to sell. Maybe you just started thinking about selling your house and are unsure which direction you want to go. There are still some things you can do on your own to determine a pretty good idea of the value of your house.
In this blog post, we’ll answer some of your questions to help equip you when you sell your house… Here are some of the most common options worth considering; however, if you are selling your house on your own fast for quick cash, then be sure to call TMC Property Solutions first at (817) 550-5069 Opt# 1. We have cash in the bank and are able to buy any home, anywhere in Weatherford TX.
Use an Appraiser’s Eye
It helps to understand the criteria appraisers use to determine the fair market value of a house. Primarily, they look at the number of bedrooms and bathrooms, total inside square footage that has heating and air conditioning, lot size, the age of the property, HVAC system, and overall condition. Other chief considerations are location-related matters like crime rate, distance to schools, local amenities, churches, and access to transportation. Using an appraiser’s eye for calculating the true value of your house inWeatherford is a good way to start.
Look at Neighboring Sales
Next, just as an agent would in running comps, take a look at comparable home sales in the neighborhood. There are a number of online resources you can use to check the sale prices of comparable houses with respect to size, age, number of rooms, construction type, and features. Beware, that most of these online resources will not be as accurate as actual MLS sold prices. Many states such as Texas are non-disclosure states which means that home sales prices are not public information so if you want accurate sold prices you will need to speak with a realtor. In addition, you’ll want to consider only homes that have sold within the last few months, say 6-9 months.
Determine the PPSF
Another good tactic for calculating the true value of your house in Weatherford is to try to determine the price per square foot (PPSF). This, too, involves comparing your house to similar houses that have sold in the neighborhood, using the same criteria above.
So when doing your own comparable market analysis, be sure to note the square footage of the houses you’re considering. Then divide the sale price of the house by the total square footage to arrive at the PPSF. The next step is to add up the several PPSFs you’ve calculated and then divide by the total number of PPSFs you added together, which will yield the average PPSF. All you have to do then is multiply the square footage (SF) of your house by that average PPSF. You will then have a general idea of your house’s fair market value.
Consider Special Features/Qualities
But in calculating the true value of your house in Weatherford don’t neglect to take into consideration the special features and qualities your home may possess. These can sometimes increase the value significantly (or, in some cases, lower it).
You will certainly want to take into account any recent upgrades and repairs – for example, new tiles and fixtures in the bathroom, new appliances in the kitchen, new windows, a new roof, or new siding, etc.. Or if your house has a large screened-in porch or is close to good schools, these features can add to the value. The comparable market analysis and the average PPSF are just starting points or base prices. Be sure to consider as well what your house has to offer beyond the mere basics in comparable houses. Details and conditions matter.
And then there’s the other side of the coin, too. If your house isn’t in as good a shape as those you’re comparing against, it will be worth less than those homes. So be sure to be brutally honest with yourself. Not being honest with yourself will only set you up for failure by overpricing your house and not selling.
These are all good tactics for calculating the true value of your house in Weatherford. Everybody wants to sell their house for more than they paid for it, however, if housing prices in your area are low, the economy’s not doing well, or your home has some sort of structural or locational problem, you may have to reduce your asking price to get your house SOLD fast. Of course, you could always have a real estate agent do a comparable market analysis for you, but you can get fairly close to that on your own.
IF YOU THINK YOU’RE READY TO SELL AND WOULD LIKE TO DISCOVER MORE ABOUT CALCULATING THE TRUE VALUE OF YOUR HOUSE, JUST GIVE US A CALL AT (817) 550-5069 Opt# 1 OR FILL OUT THIS SHORT FORM.
Another option for you if you’re not feeling comfortable about determining your home’s value yourself and you just want to sell your house fast in Weatherford or nearby cities, is to call a local house buyer like TMC Property Solutions. They can do the comparable market analysis for you and make you a fast and fair cash offer for your house and close quickly.
TMC Property Solutions is a Veteran owned/family run business and has been helping families across the DFW Metroplex since the year 2000, “buying houses fast”, providing solutions for home sellers that work. We are an accredited business and A+ rated members of the Fort Worth BBB.
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