True Market Value of My SoCal Home – Realtor’s Formula
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True Market Value of My SoCal Home – Realtor’s Formula

“How much do you think my home’s worth?” I get this question every day. It’s a complex process with many factors involved. Let’s take a look. Stay tuned to the end of the video, for your
free gift, which will give you an idea of your home’s value. Hi, I’m Mary Anglin with United Real Estate,
Los Angeles, and by the end of this video, you’ll know what’s included in calculating
your home’s market value. I publish new videos every Thursday, so be
sure to subscribe and hit the bell to be notified when my new videos are released. How does a real estate agent actually determine
true market value? We start by doing a comparative market analysis,
also called a CMA. This means that I’ll compare your home’s features
to similar properties in your area that have sold recently. For this report, an agent looks at several
factors, and we make appropriate adjustments to influence the assessment of your home’s
worth. Do you have any idea of what your home might
be worth in today’s market? Let me know below. Your agent begins her research by looking
at neighborhood sales. She will look at similar, recently sold homes
in the neighborhood to see what they sold for, and what they have in common with your
home. The next factor is the exterior. What does your home look like from the outside? Your agent will factor in curb appeal, the
style of the house, the front and back yards, and anything else that impacts how the home
looks to someone who is walking by, or driving by. Next we have the interior. This is everything inside the walls of the
house, including square footage, the number of bedrooms, the number of bathrooms, the
appliances, and any other amenities that you might have to offer. Another important factor are the upgrades,
renovations and general condition. Is your home all original? Or, have you added something like central
air conditioning, or new windows, or have you upgraded the kitchen or the bathrooms? How old is your roof, and have your floors
been refinished? How fresh is the paint? Another factor is the age of the home. Whether you have a newer or older home affects
the number that your agent is going to come up with as part of the assessment. The style of the home is also factored in. It is important because buyers in different
markets have different tastes. If buyers in your market prefer a ranch style,
or pool homes, and you have one of those, your home might sell for a premium. Of course, we will look at market trends. Because your local agent has so much experience
in your market, we have our finger on the pulse of the area’s trends, and know what
buyers are willing to pay for a property like yours. Of course, location, location, location. This one’s probably the most obvious. Your agent will know about how popular an
area is, how safe it is, what are the schools ranked at, and is your home near a railroad
track or a highway, or industrial area? Location matters. Another question I get is how accurate are
the online calculators? When you use an online calculator to determine
your home’s value, it’s really just an estimate. It’s maybe a good place to start, but it’s
not an actual appraisal, and it’s not the true market value. A computer algorithm simply cannot take all
these factors into account when calculating the value of your home. The reality is, nothing beats the accuracy
of a real estate agent, or a professional appraiser when it comes to determining a home’s
true market value. Having an agent involved in this process is
essential, because they understand the market better than a computer ever could. Now that you understand the components an
agent uses to determine your home’s value, click on the link in the description box to
access my free preliminary comparative market analysis for your home. If you’re in the San Gabriel Valley, or the
Inland Empire and are in need of a realtor, I’m right here in West Covina, just give me
a buzz. I look forward to connecting with you. If you enjoyed this video and found it helpful,
please give it a thumbs up, and make sure you subscribe so you don’t miss my upcoming
videos, and I’ll see you on the next video.


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