What’s My Spokane WA Home Worth?
Determining The Market Value of Your Spokane WA Home
Determining the market value of your home or property can be a tricky task. Even well seasoned appraisers can often times run into tough appraisals and features which they’ve never had to account for in valuating a property. Many people who aren’t really sure that they want to sell right away will be reluctant to contact a Realtor® for a free evaluation, mainly because they don’t want to be pushed into listing the home.
If this is you then you’ve got a couple of other options. The first one would be the less cost effective but more accurate method of simply hiring an appraiser to do a 1004 appraisal (URAR 1004). This is the type of appraisal that you may have encountered when you attempted to refinance your home or take out a home equity line of credit. A 1004 appraisal is not necessarily the most accurate valuation but it will definitely give you an idea of what the house would sell for in the current market.
Your next option would be to attempt to determine the current market value of your home on your own. This can be done by visiting a reliable local real estate website that can show you other homes in your immediate area that compare to your house. We recommend visiting www.OhanaRealtyGroup.com to gain free access to the local Multiple Listing Service. This website links directly to the Spokane MLS and it updates every hour, so you’ll always have access to the most up-to-date information on every home in the market. The things that you’ll want to look for are as follows:
1. Bedroom Count – You’ll want to look for other recently sold homes that offer the same number of bedrooms
2. Bathroom Count – You’ll want to look for other recently sold homes that offer the same number of bathrooms
3. Square Footage – You’ll want to look for other recently sold homes that offer a SqFt within 300 + or – of your house
4. Year Built – Again, you’ll look for recently sold homes that were built within 5-10 years of your house
5. Style of Construction – Look exclusively for other recently sold homes with the same style of construction
NOTE: Be sure to ONLY use recently sold properties as these are the properties that an appraiser would use to determine the current market value of your property.
Your final option is to contact a local real estate agent to ask for a free no-obligation market analysis. Be sure to ask the real estate broker how long they’ve been in business, how many homes they sell on an annual basis and what methods they’ll be employing to determine the value of your home. Once you’ve chosen the Realtor® that you feel is most qualified to handle your valuation, you can just sit back and wait for the news. For a FREE no-obligation market analysis on your home, just click on the link below.
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