Houston sellers always think that they know the real values of their houses but the truth is, they actually don’t. Property valuation in Houston, Texas is not a simple ABC process. You can’t just talk to an appraiser or use the Zillow estimator. They are a couple of things that you can do to get the true value in Houston, Texas.
Use a CMA
What is a CMA? The Competitive Market Analysis is more or less like a report that’s normally prepared by real estate agents. However, this is something that you can do on your own. With the help of a CMA, you can get a rough estimate of what your property’s worth by comparing it to other similar homes sold in the recent past. Whatever information you need can be found on real estate sites that share MLS data, including Trulia and Zillow.
To calculate the estimate, look for recently sold homes and add or subtract things like lot size, number of rooms, or square footage. Then average out the prices they sold for to figure out a good base point for the property’s value in Houston, Texas. Any real estate agent can provide a CMA free of charge but many of them prefer holding onto them until they get hired.
Online calculators for property valuation in Houston
Thanks to the internet and this new era of technology, you can get a number of great tools critical for property valuation. Unfortunately, some of these tools only work effectively if you have the right information as input. So make sure you go accurate facts. Example of real estate sites that you can use includes Realtor.com, Zillow, Redfin, Homegain, Chase, and Remax. Use these sites to compare your numbers and determine the average. Remember, there’s no real estate site out there that’s completely fool-proof. So you might realize that what you get as your property value varies a bit from one site to the next.
Hire an appraiser
In case you have been questioning the value that you get after using the CMA and different online tools, you should consider hiring an appraiser. An appraisal will only cost you a few hundred dollars, and it will offer valuable insight. Just make sure you do your homework before hiring an appraiser as you can fall into the hands of con artists looking to take advantage of your naivety. Find out what level of experience they have and what they specialize in.
Study the housing market
Property values in Texas fluctuate all the time. But there are patterns that you can study. For example, most of the time property values hike during summer and drop in winter. Also, some property values fluctuate due to availability, supply or demand.
Work with a professional cash buyer
You always have the option of working with a professional cash buyer who has been buying and selling real estate for years in Texas. We are the perfect example of such a professional. Call us and we will send someone to you.