What is my house worth today?
Hey Alison, what is my house worth today? It is a question I heard a lot over the weekend. I had a number of conversations with friends who had purchased their home within the last three years and they were asking me the same thing. The topic came up because of all of the positive real estate market news.
How are local home prices doing?
To be honest, it depends on where you live, how well you have maintained your house, and what your house is. Specific markets such as Mason. Blue Ash, Symmes, and Montgomery are seeing nice appreciation partly due to the limited inventory of good move-in-ready homes. Areas like Hyde Park, Oakley and Mt. Look Out are also doing well for the same reason.
Good houses sell. Bad houses sit.
I tell sellers there are 4 things that go into selling; Price, Placement, Promotion and Preparation. Sellers can control 2 (Price & Preparation). I tell all my friends and clients the best way to make money on your house is to spend money on your house. Keep it in great condition and great repair. Leaky roofs, broken gutters, questionable A/C or Furnaces are expensive to repair but they are major turn offs to buyers.
The other thing I tell them is they have to price their house to the market, and there are a number of indicators that tell me and them if they are too high or too low. The placement (the neighborhood/lot/area of town) is out of their hands so their market price rises and falls with their neighbor’s. Even in a rising market, market prices do not always meet up with client expectations. So it is always a good idea to know what your home is worth so you can decide the best time make a move.
Interested in knowing what your house is worth? Email me!