The Key to Finding Your Home's Value

There are many great North Central New Jersey area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (973) 214-0691 for a FREE home buying or selling consultation to answer any of your real estate questions.

The most important thing every seller asks is, "What is my home worth?" There isn't really a simply answer to that - the value of your home depends on the area, condition, and many other things. So how do you find out how much your home is worth? Use a 5-point pricing strategy to do just that:

1. Understand market conditions: Market conditions have a huge impact on your home's value. They are often specific to your town and, more often, the specific neighborhood you live in.
2. Know your Zestimate: Zestimates are pretty inaccurate, but if you're looking to sell your home, you should have an idea of what it is. Buyers will almost surely know how Zillow values your home.
3. Understand your tax assessment: Know your tax assessment and how it fits with other homes on the market that have sold recently. Use it to figure out what it will equate to in the sale of your home. 
4. Understand your price band: Check and see how much activity is going on in your price range. What's the average list-to-sale ratio of homes in your price band? What do their tax assessments look like? Know what has sold in the last year to gain an understanding of how your home compares with those sales. These are known as comparables.
5. Understand active homes in your price band: Go through and see where your house would rank among other active homes in your price bracket. The sum total of all the above knowledge should give you an idea of where your home fits in.

This information can be very difficult to come by on your own. A real estate professional can help you dig up that hard to find information so you can get a good idea of the true value of your home.

Even if you don't plan on selling soon, we would be more than happy to help you out. Simply give us a call or shoot us an email so we can determine if it makes sense to put your home on the market!