Real Estate For Sale: How Much Is My Home Worth?

Posted By: YourFriends AtSWMR In: Southwest Missouri Realty
Date: Tue, May 24th 2016 9:46 am

Selling your home? We can give you some advice on determining the value of real estate for sale.

You want to move. Maybe you’ve been eyeing some acreage for sale in the countryside or those new luxury homes for sale on the hill. Or maybe you want a shorter commute. Whatever the reason, before you put the for sale sign up on your front lawn, you need to determine one big thing. How much is your home worth?

Determining a home’s value is more of an art than a science. That’s why we suggest you talk to a local realtor in Springfield, MO that you can trust.

At Southwest Missouri Realty, when it comes to real estate for sale, we look at several factors before giving you an exact listing price. Here are a few factors that affect your home’s worth, along with some tips on what you can do to boost its value.

The Condition of Your home

A home’s condition can make or break the listing price. Are your carpets well taken care of or threadbare? Are the walls clean? What about the property? Have you mowed down the weeds and grass?

What You Can Do About It

The good thing about home condition is that it's something you can change to boost your property value. Little things like painting walls, changing out carpet, and seeding the lawn can add thousands of dollars to the value of real estate for sale.

The Neighborhood

Springfield, MO real estate prices are rising slowly, and buyers are mainly young adults with the average home priced at $107,000. St. Louis prices for homes, on the other hand, have stayed stagnant with the average home priced at $120,000. The location of a home will absolutely affect the dollar worth of real estate for sale.

What You Can Do About It

Unfortunately, there's not much you can do about the neighborhood that your home is in.

The Current Market

This is the aspect of home value that often leads the online calculators to make mistakes. The market can change rapidly. Real estate lingo like “buyer's market” or “seller's market” can get confusing, but basically, it all comes down to supply and demand. If there's a lot of demand and not a lot of real estate for sale, you’ll get more out of your house. Your realtor will pull comps to see exactly how similar homes are selling.

What You Can Do About It

While you may not be able to change the market, you can at least be aware of it. If you see a lot of for sale signs up in your neighborhood, you might want to hold off on selling your house. If everyone else is staying put, maybe it’s time pull up your roots and find a new place.

Your Home’s Age

This goes without saying, but older homes aren’t worth as much. But, don’t let this discourage you, a beautiful old home can still sell very well.

What You Can Do About It

Actually, there’s a lot you can do. Pull down a few walls here, throw up some sheetrock there, and in a very short time, you can modernize your home, and get more out of it. Channel your inner Joanna Gaines! It’s also wise to find out whether you have PVC or copper piping. Copper piping tends to rust over time, so homes with PVC get better sales. It might be worth the cost to upgrade.

Real Estate for Sale in Southwest Missouri

What other questions do you have about your home’s value? Here at Southwest Missouri Realty, we’re waiting and ready to answer any questions you have about selling your home. We can also assist you with buying if you’re interested in local real estate for sale. Contact us today!