If you have any interest in Arizona golf homes or the Scottsdale real estate market, you’ve probably seen the term “home valuation” as you’ve perused articles and home listings. However, you may not know exactly what a home valuation is or when you might need one. Here’s how we at The Matheson Team handle and view home valuations.
As the name suggests, home valuation is your home’s value in today’s marketplace. While nothing beats the custom home valuation of a professional who knows your exact market (like the experts here at The Matheson Team!), there are a handful of decent websites that can give you a broad idea of what your home may be worth.
There are three main reasons to get a home valuation:
- First and foremost, you are considering selling the home and want to get an idea of its worth and what the listing price could be.
- Second, you are considering refinancing the home. Your bank may require an appraisal from one of their trusted partners, and a home valuation will give you a starting off point.
- Third, you just want to know where you stand in the real estate and investment world. Maybe you put a lot of work into a new kitchen or bathroom and you want to see how much return you can expect, or you filled in the pool and added a detached guest casita, and are wondering if that will increase or decrease the property’s overall value and desirability.
Speaking with a professional real estate agent about the above details will give you the best possible outlook. If you try a popular do-it-yourself home value tool, like on Redfin, you’ll notice a discrepancy of a couple thousand dollars to several thousand dollars. This is based on computer data from the Multiple Listing Service (MLS), not someone actually walking through your home or driving around your neighborhood, or even knowing your neighborhood and market.
When we perform a home valuation in Arizona golf homes, we physically walk through the home and look at the floor plan, highlights, remodels, and additions or changes to the original property. We also look at the neighborhood and Arizona golf community, amenities, comparable sales, and your proximity to schools, stores, restaurants, and freeways.
Then, we consider the current real estate market, including supply versus demand. All of these elements combine to give us the best look at your home’s value at that given time. Note that as the market fluctuates, so may your home’s value. So, what your real estate is worth today will likely not be what it is worth in a few years, or what it was worth when you purchased it.
As experts in Arizona golf communities and the Scottsdale real estate market, The Matheson Team can help with your home valuation so you can stand poised to sell your home soon, refinance or just know how well your investment is doing in current market conditions. Contact us today to get started!
Realtor | Founder
The Matheson Team – RE/MAX Fine Properties
21000 N. Pima Rd., #100, Scottsdale, AZ 85255