Putting your home on the market?
If you are thinking of selling your Santa Cruz CA oceanview home , you’re also likely considering how much to sell it for, how to sell it fast, and how to improve its value.
There are many decisions involved in home selling, but the most important thing to consider is the listing price.
Your home’s price will determine if the house will sell fast or not, so pricing it right is the key. Finding that sweet spot between not too low nor too high a price will result in a much faster transaction.
How to find your home value
One of the most common questions I get as a real estate agent is “How much do you think my home is worth?”
Home pricing is part art, part science. It follows procedures, it requires research, and a little bit of math.
It also needs the right tools and information. That’s where we real estate agents come in. Our market knowledge, experience in valuations, and tools like CMA (comparative market analysis) help us come up with the right price to list your home.
Several factors play an important role in your home’s worth. These are:
- Comparables. This also known as comps and refers to prices of recently sold homes in your neighborhood. By taking into account sold homes with the same size, house style, condition, and amenities, you can tell how much buyers are willing to pay for. It gives you a good gauge when it comes to pricing your home.
- View and location. You’ve probably heard this a hundred times but in real estate, location is king. Is your home near a quality school, shopping or entertainment centers and job opportunities? How close are you to the freeway or highway? These things add or decrease the value of the home.
What kind of view do you have in your home? Is it a peek-a-boo, a clear view or a panoramic view of the waters? Views are hard to quantify, but the better your vantage point and the less obstruction, the higher the value.
- Size. A home’s value is estimated per square foot, so size plays a huge role. You also have to consider the livable space which excludes garage, attics, and unfinished basements. Bedrooms and bathrooms increase value, so generally, the more bedrooms and bathrooms, the higher the value.
- Home age and general condition. New constructions have higher value than old house because old home require more maintenance and upkeep.
- Updates and improvements. Improvements you’ve made to the property can also influence home value. Updating to hardwood floor, installing energy efficient windows, and adding a deck are some improvements that can increase home value.
- Market condition. The condition of the local market also affects home value. If there are many buyers competing over a few number of homes, home prices can increase. If there are many sellers but only a few buyers, home price decreases.
Even the local economy and interest rates affect your home’s value.
Knowing your home’s value helps determine the right listing price for your waterfront home for sale in Santa Cruz CA.
Are you planning to put your home on the market soon? Call me, Sandy Wallace, at 831-818-7099 for a free home valuation. I’ll be waiting for your call.
In case you can not view this video here, please click the link below to view What’s My Santa Cruz CA Oceanview Home’s Value on my YouTube channel: https://www.youtube.com/watch?v=QY3jaMcQjCM.
