Oro Valley Real Estate - Sellers Researching Home Prices
How Sellers Can Research Local Home Prices
Years ago, before the Internet was widely available for every aspect of life, determining the price of your home for your local market relied heavily on the assistance of a real estate agent or broker. Now, with the ease of access to many different online real estate information sources, pricing a home for sale can seem like a very easy task. While it may be easier for a seller in 2020 than in 1990, pricing a home still best involves an agent and additional research to ensure a reliable sale price.
Rely On Local Experts
When it comes to pricing a home for sale, there are literally hundreds if not thousands of websites out there that can provide information on many local housing markets. If there’s one thing that does not help a seller, it’s the anxiety created by trying to determine which site can be trusted and what information is relevant. The less stress the better. If it’s time to put your house on the market, the best first step is to contact your local real estate agent.
Some people may ask, “Why? Why do I need an agent?” A local agent is going to have experience in the local market (it’s not unheard of for an agent to have multiple properties in a specific neighborhood, becoming an almost niche agent for the community). An agent will also have access to information on recently sold or pending sale properties that can directly impact the price of your home, including why some homes have become pending sales while buyers have ignored others. An agent will also have online MLS data readily available to them, and s/he won’t have an issue when it comes to accessibility of that data. While it could be argued that the information is freely available online, using an agent ensures you have an expert on your side that is prepared to handle potential buyers that may believe they know more about the value of your home.
Search For Local Properties Online
Being prepared is never a bad thing, especially when it comes to selling your home. After you’ve enlisted the help of a local agent, use one or two of the many listing sites available to look at properties in your community. Online sites are very useful in determining median listing price, median closing price, and average price per square foot for your city.
Online listing sites can also help you understand what the local housing market looks like in terms of properties listed, property conditions, and the current competition for your home. When looking for a reliable online site, find one that aggregates listings from the Multiple Listing Services (MLS) and updates listing data multiple times each day. This ensures you will have the most up-to-date and accurate information.
Use An Online Home Value Estimator
The Internet has made accessing property information much easier than in previous decades. Sellers can now plug their address into a website and view a home value estimate. These online sites are a great tool for a seller looking to get a broad idea of what their home could fetch on the market. Keep in mind that estimates are not always accurate and should be considered with other market research and information.
Online price calculators will give you a good idea of the price range for your home, but they use sold data in your area, which is the most basic data that can be used to determine the possible price of your home. They don’t take into consideration any upgrades you might have done, or any local market nuances that a local agent would know. It’s also likely that no two sites will be the same when it comes to the estimate generated, so while a home value estimator is useful, it should only be used as a reference guide.
Determining what to list your home for can be a daunting task, so use what’s available to you to make it as easy as possible. Contact your local agent for an expert opinion and use online websites and information to reinforce your agent’s recommendation.