Are you a Houston homeowner wondering how you can estimate the value of your Houston house? Knowing your home’s value is important if you plan to sell it, refinance, adjust your home insurance plan, or for tax purposes.
In this post, our team at Your Home Sold Guaranteed Realty - Chris Schmidt Team will share eight methods you can use to estimate the value of your home in the current Houston housing market.
Key Takeaways:
- Websites like Zillow and Redfin are popular choices for determining your home’s value. However, these sites are best used if you’re only looking for a rough estimate.
- Hiring a professional appraiser is the best way to find your home’s actual market value. Appraisers are licensed to physically inspect your property, its location, and a variety of market factors.
- Broader economic factors such as supply and demand, interest rates, unemployment levels, inflation, and recessionary conditions can influence property values.
How Can You Estimate the Value of Your Houston House?
- Online Valuation Websites: Websites like Zillow and Redfin are popular choices for determining home value. However, these sites are best used if you’re only looking for a rough estimate. Because they rely on public data and algorithms for their estimates, they’re unable to take into account the unique features of your home that might make it worth more than comparable homes in the area.
- Comparative Market Analysis (CMA): A CMA involves analyzing the size, location, and condition of your home as well as current market trends. It’s usually done by a realtor since they have access to the most updated market reports. CMAs lead to a very accurate home value estimate.
- Professional Appraiser: Hiring a professional appraiser is the best way to find your home’s actual market value. Appraisers are licensed to physically inspect your property, its location, and a variety of market factors and comparable sales. Based on all of this information, they determine how much your house is worth in the current market.
- Estimate Based on Price per Square Foot: Research some homes that recently sold in your area. For each home, divide the final sale price by the square footage to get the price per square foot. Then, multiply the average price per square foot by the square footage of your own home for a rough estimate of its value.
- Use the County Assessor’s Valuation: County assessors determine the value of homes for property tax purposes. These valuations do not reflect the current market value of homes– they’re only used for property taxes. But they can still be useful as a starting point for figuring out what your property is worth.
- Consider Market Conditions: Broader economic factors such as supply and demand, interest rates, unemployment levels, inflation, and recessionary conditions can influence property values. Be sure to consider local economic conditions as well as state-wide and national conditions.
- Factor in Upgrades and Improvements: Has your home had any significant upgrades, renovations, or improvements since you purchased it? The cost of these improvements should be factored into your home’s value.
Find the Value of Your Houston House with Chris Schmidt
Working with a professional is the best way to find out how much your home is worth. At Your Home Sold Guaranteed Realty - Chris Schmidt Team, Chris Schmidt and our team have years of experience working in the Houston metropolitan area.
Our familiarity with the local market trends, as well as our legendary customer service, are why we’ve developed a reputation as the best realtor in Houston. We can easily help you find the value of your home, and if you decide you want to sell it, our unique Guaranteed Sale Program protects your interests and ensures a risk-free sale.
To get started with a home valuation with our team, give us a call at 713-322-5604. You can also fill out the form on this page or send a message to [javascript protected email address].
To Discuss Your Home Sale or Purchase, Call or Text Today and Start Packing!
