Are you interested in selling your home and want to “find my home value in West Texas?” There are several factors to consider when pricing your home that goes beyond the usual real estate listing. You want to command the best price possible while staying competitive in your market to attract more buyers. Here’s a look at how to determine your home’s value and pricing strategy and take the next steps in your real estate journey.
Skip the DIY Tools
There are plenty of DIY home value calculators on the market, but they’re unreliable and often give an unrealistic price point for your home. Instead of looking at various factors and the nuances of a local market, they provide a broad overview. These tools may even offer an over-inflated price point based on previous market conditions or entice you to take the next steps by listing your home with their company. Make sure to do your due diligence and get deeper insights into how your home should be priced appropriately.
Research Similar Homes Recently Sold
If you’re asking how to “Find My Home Value in West Texas” you need to look at similar homes sold. From the square-footage to the number of closets, bathrooms, acreage, and location, the price of similar homes will impact your own home’s value.
A DIY tool may look at comparable homes, but they’re unlikely to recognize if those houses were recently updated, if there are talks of new amenities coming into the area or other factors that could impact how desirable it is.
Look at Average Time on the Market
The average time on the market of similar houses will also impact your pricing. The more extended area homes sit, the less competitive the market usually is, which can negatively impact the price. However, just because a home doesn’t sell immediately doesn’t mean it’s not worth the high price tag. The reason it’s not selling could point to its unique amenities and type of property. For example, a rural hunting property, farm, or expansive ranch needs a special buyer and won’t attract the same volume of foot traffic as a single-family home.
Consider the Current Real Estate Market Conditions
It’s not unusual for real estate markets to see intense highs and lows, followed by lulls and market corrections. Some areas of West Texas may also sell in a frenzy while another stays consistent. The real estate market conditions can also cool off in one location as buyers look to less popular areas for a better price point. Working with a local, experienced real estate team can help make sense of fluctuating markets, the best time to list a home, and what to expect from your home’s pricing.
Get a Home Valuation Report from Ekdahl Nelson Real Estate
A real estate agent or broker can help you with a property valuation report to help estimate the worth of your home in the current market and over the long haul. Unlike DIY tools that generate your home value based on generic criteria, a home valuation report includes active listings, pending listings, sold listings, and off-market data for a more accurate assessment.
Consider Increasing Your Home’s Value
If you’re considering selling your home, its true value could also reflect updates or renovations. A fresh coat of paint and a front door replacement could go a long way to freshen up your home’s curb appeal. More extensive updates could improve your home’s value, including your kitchen and master bathroom. However, it’s essential to talk to a real estate agent before you dive into a renovation. You may find specific updates aren’t worth your time and money in the current real estate market.
Find My Home Value in West Texas
If you’re interested in learning “how to find my home value in West Texas,” Ekdahl Nelson Real Estate can help. We have deep connections in the West Texas area and treat our clients like family. Since 1980, we’ve offered a customized, boutique experience for our buyers and sellers for a seamless experience. We don’t believe in running our business like a transaction; we prefer developing long-lasting relationships in the community. We help connect buyers and sellers to make the most of your real estate journey from start to finish. Ready to take the next steps? Contact us today to find your home’s true value in the current real estate market.