Knowing how much your property is worth allows you to set a reasonable and competitive asking price. And when your listing price closely reflects your home’s market value, you have a better chance of selling fast and for top dollar.
In this article, our team at Your Home Sold Guaranteed Realty - Phil Aitken Home Team will cover everything you need to know about home value, including three methods for calculating it. We’ll also discuss our free home value calculator tool, which can help you get an accurate estimate of your property value in Jacksonville.
3 Factors That Influence Property Value
1. Economic Conditions
Economic climate can have a significant impact on the housing market and home values. High interest rates, inflation, recession, and unemployment can all affect the health of the market.
For example, when interest rates rise mortgage payments become more expensive for homebuyers. As a result, demand for homes starts to decline. This leads to home sellers lowering their asking prices in an attempt to attract buyers.
2. Home’s Location
The location of your property in Jacksonville can also impact its value. Certain home buyers may be willing to pay more for a home located in an area that fits their needs.
For instance, a young professional may be willing to pay more for a home that offers a shorter commute time. On the other hand, a family with children may prioritize a home near excellent schools.
Additionally, the condition of the neighborhood can influence its value. Communities with high crime rates may have lower home values due to lower demand.
3. Appearance and Features
Lastly, the home’s overall condition impacts its value. Some aspects of your home can’t be changed, such as its age and square footage.
But there are some steps you can take to raise your home value. This includes taking care of necessary repairs, making upgrades, and renovating key rooms in your home to make them more modern.
How To Find Your Estimated Home Value in Jacksonville
1. Online Tools
Many home sellers use online tools to estimate their home’s value, like Zillow Zestimates or Realtor.com. But while these sites can be good for an initial estimate, they’re often highly inaccurate.
These online tools aren’t tailored to your local market, so they don’t have the same up-to-date information as a realtor. They also fail to consider the impact of off-market homes on home valuations.
Online tools that are designed with your local market in mind can give you a more accurate estimate. At Your Home Sold Guaranteed Realty - Phil Aitken Home Team, we’ve created a free home value calculator to help you discover how much your Jacksonville property is worth.
This tool pulls from our databases, so you can rest assured your home valuation is based on reliable, up-to-date information.
2. An Experienced Realtor
Ultimately, real estate professionals can help you find your estimated home value in Jacksonville. Even if you’re early in the home selling process, it can be worth it to reach out to a realtor and see if they’re willing to give you an estimate of your home’s value as part of an initial consultation.
They’ll perform a comparative market analysis, which involves researching recently sold and currently listed homes in the area to determine your home’s value.
3. A Professional Appraiser
You’ll need to hire a home appraiser to determine your actual home valuation. Appraisers look at your home’s condition, location, comparable properties, and the overall market. Based on their findings, they create an in-depth report detailing your home’s market value.
Once you begin negotiations with an interested home buyer, they’ll be required by their lender to hire an appraiser in order to get their mortgage approved. However, this doesn’t mean you can’t hire your own appraiser beforehand.
Our Team Knows Your Estimated Home Value in Jacksonville
If you need to find your estimated home value in Jacksonville, Your Home Sold Guaranteed Realty - Phil Aitken Home Team is the best realtor to work with. We have years of experience selling homes in the Jacksonville area. We’ve helped thousands of people sell their homes fast and for top dollar, and we know we can do the same for you.
Our clients love working with us because of our exceptional customer service, legendary selling speed, and unique seller guarantees.
This includes our Guaranteed Home Sale Program, which ensures your home will sell within your desired time frame. If it doesn’t, we’ll buy it ourselves.
To learn more about our guarantees or use our free home value calculator, call (904) 544-5252. You can also fill out the form below for more information.