Real Estate Blog for Buyers & Sellers

Is Your Home Worth More Than You Think?

  March 5, 2018   Tina Vincent

If you’re a homeowner, you’re familiar with the Property Assessment notice that lands in your mailbox each winter. You may be surprised to learn that this number is merely a vague estimate of your home’s worth. Given that the figures are calculated by July 1st each year, long before you receive your notice, a lot may have changed in the market, in your neighborhood, or in/around your property.

 

BC Assessment looks at size, age, layout, location, sales data… the basics.  Very rarely do property appraisers actually visit the homes to see them up close. So, while these reports serve a purpose for determining future tax changes and approximate value, they don’t really get down to the specific attributes of your home. In the end, whether you’re thrilled or dismayed by the figures on your annual assessment, take that number with a grain of salt.  After all, a weather report from last July hardly rings true for what we can expect in February. In a busy market like the one we’re in now, property values can change monthly or even weekly!

 

With a complimentary property market evaluation, I will get down to the finest details in discovering the true worth of your home based on recent renovations, upgrades, zoning, or new amenities in the neighbourhood. Maybe a new school was just built, adding a lot of appeal for young families. Perhaps your neighbours finally cut down those cedars, providing you with a stunning ocean view. These changes, big and small, all affect your fair market value.

 

An evaluation is the key next step on your way to listing your home for sale. In a very competitive market with low inventory, it’s crucial to know the true market value, rather than simply an estimate required for financing by the brokers and banks. These numbers simply don’t tell the whole story, and digging a bit deeper can net you higher returns on your home sale.

 

While the Market Evaluation is an estimate at heart, seeing your home for myself means that I can devise the most effective marketing plan, the most brilliant way to play up your home’s standout features, ensure a competitive strategy to sell your home, and sell it well-- at or above fair market value.

 

 

Even if you’re just starting to think about selling, it’s worth scheduling a free market evaluation. I’ll visit you at your home, show you what comparable properties have sold for in your area and show you how to get the most for your home should you decide to sell.

 

Once you have a clear idea of the price your home will fetch on the Comox Valley real estate market, you can decide with eyes wide open how you’d like to proceed. You’re under no obligation to do anything more.

 

Ready to take the next step toward listing your home? Call me today at 250.792.2776 or email tvincentrealty@gmail.com.

 

With me, you’re never just another listing!