Whitehill Law Offices, P.C.
  • About
    • James A. Whitehill
  • Practice Areas
    • Real Estate
    • Business Law
    • Commercial Leasing
    • Estate Planning, Probate
  • Articles
    • 4 Tips For Winning A Bidding War In Tucson
    • Arizona Real Estate Understanding Home Appraisals
    • Don’t Get Fleeced When Negotiating A Commercial Lease
    • Four Issues Homeowners Should Weigh When Considering A Short Sale
    • Four Reasons To Get A Home Inspection Before Buying In Arizona
    • How An Attorney Can Help You When You Buy Or Sell A Home
    • Improving Real Estate Market In Arizona Does Not Preclude Scams
    • Property Management Issues In Tucson
    • Protect Your Legal Interests When You Buy Your Tucson Home
    • Reasons For Legal Counsel When Considering An Arizona Short Sale
    • Rent Abatement Clauses In Commercial Leases Can Provide Traps For Unwary Tenants
    • What Arizona Homebuyers Need To Know About The Changing Market
    • What You Should Know Before Renting Out Your Property
    • Why Does A Title Report Matter In A House Sale
  • Blog
  • Contact
Select Page

How can I get an accurate estimate on a home’s value?

On behalf of Whitehill Law Offices, P.C. | Mar 23, 2020 | Real estate transactions

Warm weather isn’t the only thing heating up Arizona. Homes across the state are starting to see a substantial increase in property value. This comes as more Americans migrate to the Grand Canyon State to avoid cold weather and high taxes. According to Zillow, home values in Arizona saw a 6.6% increase in 2019 and could increase by 5% in 2020.

This can be great news for home sellers. But how do they determine a home’s worth before putting it on the market? Finding an accurate answer is never easy. Luckily, there are tools available to help give them a better estimate.

Figuring out what your home is worth

More than 50% of Americans say knowing the value of a home is crucial before listing it on the market. To get credible information, sellers can:

  • Compare the cost of neighboring properties: A great way sellers can get a better picture of their home’s worth is by comparing the price of others in their area. They can do this by pulling comps. Doing so can be a cost-effective way for sellers to get a credible price estimate without hiring an appraiser. Sellers should consider pulling at least three comps to get an accurate number.
  • Obtain comparative market analysis data: If sellers want a better picture of their home’s worth, they can request a comparative market analysis. While they’re not as extensive as an official appraisal, these evaluations can be done for little to no cost by a local real estate agent.
  • Use a home index calculator: Sometimes, sellers may want to forgo using a low-cost third party and determine their home’s value themselves. If that’s the case, they can use the house price index calculator through the Federal Housing Financing Agency (FHFA). It uses what’s called the “repeat sales method” which can provide data on who’s owned the home and how its value has fluctuated over time.

When selling your home in a high-demand real estate market, it can be easy to get an inaccurate price. But by knowing what information is credible, sellers can get an accurate estimate for their properties.

 

  • Facebook
  • Twitter

Recent Posts

  • Why the title search is a crucial part of buying a home
  • Is a short sale an easy purchase? Is it worth it?
  • Is it better to buy a home than it is to rent?
  • Don’t ignore post-possession terms when buying a new home
  • Why do I need a lawyer for my real estate transaction?

Archives

  • December 2020
  • November 2020
  • August 2020
  • May 2020
  • March 2020
  • December 2019

Categories

  • Real estate transactions
  • Short Sale

RSS Feed

Subscribe To This Blog’s Feed

FindLaw Network

Schedule A Consultation Today

Discuss your case, learn your options.

Whitehill Law Offices, P.C.

2730 E. Broadway Boulevard
Suite 160
Tucson, AZ 85716

Phone: 520-314-8779

Map & Directions
Review Us

© 2021 Whitehill Law Offices, P.C.. All Rights Reserved.

Disclaimer | Site Map | Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters