This page is a comprehensive guide on how you, as a homeowner, can determine your San Antonio TX home value.
We will cover the advantages and drawbacks of online assessment tools, how to increase your home value, how to find the best listing agent, questions you should be asking your listing agents, upgrades considered in estimating the value of your home, and more.
Table of Contents:
III. What are Houses Like Mine in San Antonio TX Selling For?
VII. How Does Melissa Wiggans Arrive at My Home’s Estimated Value?
Interested in finding out your home’s worth?
Your career may be taking you someplace else. You may need to move for personal reasons.
Whatever the reason is, when you have decided to put your San Antonio home up for sale, the first thing you need to know is how much it is worth.
Knowing your home’s value will help you decide on how you will price it competitively so you can successfully sell it on the market.
What then, is the best way to get an accurate assessment for your home?
There are different ways you can get an assessment of your home’s value.
One way is to use an online value estimator. You may have even already tried it. That is hardly surprising as the internet is the commonly used tool when we want to know things we are not familiar about, like our home’s value.
There are hundreds of online home evaluators to choose from, and each of them promises to give you an accurate evaluation of your home’s worth. I hope you don’t use the result of a home value calculator as the basis for pricing your home.
Why? The following are my reasons why.
But they cannot give your home’s accurate worth because they only base their calculations on the records in their database, which depends on the availability of data in your specific market.
While it is that most market information can now be found online, there is still some data an online home estimator cannot access.
Even a popular website has a disclaimer that says “online estimators are simply the starting point of a home value calculation”. You still have to contact a real estate agent to get an accurate worth of your San Antonio TX home.
On the other hand, I, as your listing agent, will use comparative market analysis and actually visit your home to see if you have made any changes which will be included in the home valuation.
Then I can give you an accurate assessment of your San Antonio home for sale.
Interior upgrades like kitchen improvements and bathroom renovations are not included in the assessment of an online home value estimator.
Because I have seen the upgrades in my visit to your home, I will consider the improvements you have done and include it in the assessment.
It means the effort you’ve done to update your kitchen will be recognized, and will increase your home’s worth.
Remember, online home estimators are mere starting points. There’s more to home valuations than what the internet tells you.
Now that you’ve decided to sell your San Antonio home, you are probably thinking of its possible price tag.
Your home’s price is the most important decision you’ll make in home selling. It is the one factor most buyers consider in taking your home off the market. It is the main factor that decides if your home will successfully sell or stay on the shelf for a long time.
You can never underestimate the power of a good price. Pricing your home too high or too low will have repercussions.
When you price your home too high, you’ll never sell it. Overpriced homes (even by only 10%) stay on the market longer since they are often ignored, being unable to offer the features and amenities that other homes in that price range have.
Buyers these days are more discerning and technology oriented.
They can easily search for substantial information about homes in your area online. They can check how long your home has been on the market, and how well your home does in comparison to other homes.
On the other hand, when you price your home too low, you’ll end up losing money. This is something you also want to avoid.
Everything has a cost these days. When you’ve made improvements and upgrades to your home, you would want to get as much ROI as possible.
Pricing mistakes can be avoided when you have the help and guidance of an expert real estate agent like me, Melissa Wiggans. Real estate agents bring their experience and skills that you can benefit from. I can offer you price guidance according to the current market and tools like a comparative market analysis (CMA).
The following factors affect the pricing of your San Antonio home for sale.
Bullet 1. Location. This is the factor that has the biggest impact on your listing price. Where your home is located can increase or decrease its value. Things like traffic, views, noise, accessibility to schools, shops and restaurants, and more are taken into consideration.
Bullet 2. Home condition. Your home’s condition is another significant factor in its pricing. The better the state of your home is, the higher its price. Obviously, if your property requires significant repairs, and you don’t want to have it all fixed before selling, you should be lowering its listing price. Most homebuyers prefer a move-in ready home. If your home is move-in ready, you can price it higher.
Bullet 3. Market. Another crucial factor in deciding your home’s price is the current market condition in your location.
If it happens to be a seller’s market, you can increase your home value. If it’s a buyer’s market, the competition will be stiff, so you would need to drop your home’s price.
When you want to sell your home for the top dollar, here are the best improvements that add value to your property.
Number 1. Kitchen upgrades. A beautiful kitchen is a must for homebuyers, and one way to achieve it is by upgrading your kitchen.
If you already have a beautiful kitchen (or you don’t have the budget for a huge renovation), minor upgrades will do.
Upgrades don’t mean replacing all countertops with granite or installing a huge island. Something like giving your cabinets a fresh coat of paint, changing cabinet handles, replacing fixtures and installing energy efficient appliances can make a significant difference in your home price.
Number 2. Bathroom remodeling. Have you remodeled the bathroom recently?
Any upgrades or remodeling to your bathroom will make an impact on your home price. Bathroom renovations can be expensive, but sometimes it can be what is needed to level the competition.
Number 3. Home renovations. Repairs, improvement, upgrades, anything you have done to make your home more efficient in keeping your family safe and secure will have an effect on its price.
For example, upgrading to energy efficient windows may seem like a small thing, but it has at least an 80% ROI.
Number 4. Landscape improvements. Fixing your fence, repainting your porch, adding flower boxes, planting perennials and pruning your lawn will go a long way to improving the price of your home. It also makes the home more attractive to buyers!
Home selling is not as easy as coming up with a price, posting it on a board along with a “For Sale” sign, and sticking it on the front yard. There are many things to do to sell the house successfully, and one of those things is coming up with a listing price.
Your home’s listing price is important, crucial even, in determining the success of your real estate endeavor. We all know that a home for sale listed at its right market value will have more potential visits and possible buyers compared to a home that is slightly higher in value.
Knowing how important price is, you’ve probably done a little bit of legwork already and scoped out the others homes and their prices. You’ve probably even compared your home to the amenities and features of the other homes.
Learning about your competitors will help you know what possible advantages your home has over them.
When you want an in-depth comparative report of homes and prices in your area, you need the skill and experience of the best REALTOR, like me, Melissa Wiggans. I can provide you a CMA report showing the prices of comparables in your community. This will help you price your home better.
A CMA or comparative market analysis is an extensive list of data which will give you an idea of the current market situation, along with information about comparables or homes similar to yours in size, age, location and condition.
It is a highly valuable tool for real estate agents, and to you as a home seller.
The following things are included in a CMA.
Here are three benefits you can gain from the CMA.
The CMA will help you see the pattern of prices of homes for sale in San Antonio.
Here’s a graph showing the median price.
You’ll notice there is a rapid increase of the median price from March to September 2017. The median price of homes on March was between $518,000 to $524,000, but this month, the median price is now between the range of $561,000 and $567,000.
It is proving to be a great year to sell your home.
Home selling is challenging, especially if it is your first-time to do it. There are so many things to take care of like cleaning the house, getting repairs, packing, and staging. Just thinking about it can be stressful and overwhelming,
This is where agents and Realtors® like me, Melissa Wiggans, come in. Our professional knowledge, skills, and experience can make selling your San Antonio TX home convenient and easy. We can help make your real estate journey smooth and stress-free.
Before you hire the first agent you meet, there are two things you need to know. One, not all agents are equal. Two, not all agents are Realtors®.
Different real estate agents have different levels of capability. Those who have been working longer are more experienced and have a better understanding of the market.
Also, a real estate agent is not automatically a Realtor®. A real estate agent is someone who has the license to sell homes. A Realtor® is an agent, or a broker who is a member of the National Association of Realtors®.
NAR holds its members to a standard code of ethics, the first of which is to be honest, and all Realtors® must strictly follow its rules. So when you want someone who’ll protect and prioritize your interest, hire a Realtor.
But you don’t just hire any Realtor. When you buy a car, you want to test drive several cars to find the one where you feel most comfortable.
It’s the same process when you hire a Realtor. You meet with several Realtors®, talk to them, and ask them questions to know which one is most suited to your needs and will be of the best service to you.
Here are the top five things you need to know from your Realtor.
1. What are your credentials? You need to know how long he or she has been an agent, and his or her experiences in selling in the area.
A local Realtor will provide better service because of his/her familiarity with the real estate market of the area. You also want an agent who is available for work full-time because he or she can devote more time to helping you sell your San Antonio home.
2. How do you plan to market my home? Agents and Realtors have many tools at their disposal, from the MLS to online marketing. You want someone who can market your home to a greater number of potential buyers.
3. How did you come up with my home’s price?.Your home’s price is the most significant factor which will determine the success of the whole selling process. If your home is priced too high, it may sound nice, but it will never really sell.
The agent should explain how he/she got to the market price. Your home’s price will indicate if the agent has a clear understanding of the market.
4. What should I do to get my house ready to sell? You want your home to be in its best shape and condition when you sell it. You need an agent who can provide suggestions on what to prepare, what to repair, and how to stage your home.
A good agent will provide helpful tips and recommendations which are budget friendly but will help sell your its best price.
5. What are my seller’s cost? From the start, your agent should be upfront about the commission rate, closing costs, and other expenses so you can prepare for it. This question will also give you the chance to compare costs among the agents you’ll be interviewing.
These questions will help you decide wisely, and having the assistance of an amazing Realtor will bring top dollar for your home.
Are you ready to know your home’s worth? Call me, Melissa Wiggans, at (210) 332-0310. I can give you a free home valuation and you are under no obligation to list with me. I have been a real estate agent for more than 20 years and I truly love helping my clients with their real estate needs.
In case you cannot view this video here, please click the link below to view What are Houses Like Mine in San Antonio TX Selling For? on my YouTube channel: https://www.youtube.com/watch?v=S3G8ITPeWFo&feature=youtu.be
Hi, I’m Melissa Muse Wiggans, owner and broker of Real Estate Muses.