Wellington Florida home values are constantly changing, what your home was worth 4 weeks ago doesn’t mean it’s worth the same amount today. So how can you find out the current market value of your Wellington home?
1. “Instant” or “Estimated” Values
There are several different real estate websites available that will provide you with an “instant” or “estimated” home value, but how accurate is the information? In my experience most of these websites use general calculations based off of area sales, that may or may not be comparable and are not always reliable.
2. An Appraisal
You can pay for a licensed appraiser to perform an appraisal on your home to determine it’s value and in my experience an appraisal costs around $300-$600. Appraisers usually examine recent neighborhood sales and makes price adjustments for items like square footage, bedrooms, bathrooms, a private pool and/or lot to determine the value of your Wellington home. As a Wellington REALTOR I know first hand appraisals can be spot on and other times the determined value can be way off, it all depends on the appraiser, their market knowledge and the types of adjustments they make.
3. REALTOR CMA (Comparative Market Analysis)
A comparative market analysis prepared by a Wellington REALTOR is another way to find out the current market value of your Wellington home and they are usually FREE, but just like hiring a licensed appraiser the determined value and/or accuracy can vary depending on the Real Estate Agent preparing the CMA.
Some Real Estate Agents may take the same approach to determine the value of your home while others will not, but regardless of the approach an agent uses to determine the value of your home it is unlikely any of them will arrive at the same value. Why? Some Real Estate Agents may determine the value of your home based on their market knowledge and won’t look at a single comparable. While other Real Estate Agents will need to or want to analyze comparables before they provide you with a value. When taking this approach it is unlikely that each Real Estate Agent will use the exact same comparables or make the same adjustments, so their assessment of your homes value will most likely be different.
Based on my market knowledge I can provide most Wellington homeowners with a value for their home without looking at a single comparable. However I still analyze comparables for two main reasons; I want to make sure my assessment of your homes value is correct, I also want to be able to educate you and provide you with documentation on how I arrived at the value for your Wellington home.
All of my CMA’s are personalized and tailored specifically for your home. Not only will I analyze recent home sales in your neighborhood, I also analyze active listings, pending listings, expired listings, price per square foot, days on market, the history of the comparable homes to see if there were any price adjustments, view photographs and read property descriptions to get an idea of the condition of the comparable homes if I haven’t already seen them.
Want to find out your Wellington Home Value?
If you are thinking about selling your Wellington home or just curious about your homes current value I will be more than happy to provide you with a no obligation comparative market analysis. I will also provide you with an estimated net sheet, so you have a better idea of what you would net if you decided to sell your Wellington home and I’d also share my Wellington Florida Real Estate Marketing lan I use to obtain top dollar for my listings in the shortest amount of time. To find out your Wellington home value I can be reached directly at 561-333-0446 or you can fill out my CMA questionnaire below.