Figuring out home values when the market is in flux is truly a job for experts. We have seen the national real estate market begin to rebound, and Columbus, GA home values reflect the movement as well. Most Columbus, GA area homeowners are in the habit of keeping an eye on area home values. But especially for anyone considering selling a home in the Columbus, GA area the next couple of months, estimating their home’s worth is one of the first items on the agenda.
To get you started, there are a couple of different methods to help establish a ballpark estimate of what your home may currently be worth.
Certainly the quickest and easiest tool is the calculator on Bank of America’s website, at http://realestatecenter.bankofamerica.com/tools/marketvalue.aspx. This free online calculator uses accumulated public record data joined with other factors to produce an estimate of home values. All you need to do is enter your address and wait for the magic.
I do have to put in a word of caution, though. Like any computer program, it’s fast and precise --but also maddeningly capable of disregarding what we humans think of as ‘common sense’. While it is fun and interesting to get this kind of readout, it’s at best a ballpark estimate (and at worst, downright misleading and wrong!).
There are many other sites boasting similar tools -- variations of the same idea and pulling from slightly different data sets -- but the approach they use to calculate home values stays the pretty much the same. You only need to enter your address and there you go: instant estimate.
While these calculators are great at aggregating data, nothing replaces human input. Real estate is, after all, the very definition of a local occurrence, so if you’re looking for more than an estimate, it’s time to call the pros in.
When an experienced real estate agent (someone like me!) creates their professional estimate, it takes into account a few things. An experienced agent takes into account similar homes in the area that have sold recently along with similar homes in the area that are currently on the market for sale. An agent can also suggest the small changes that work best to enhance a property’s value and curb appeal to attract more buyers.
Why use a Realtor like Carey Scott to sell your home? Click here on Why use a Realtor?
If you want something that is more concrete, I would suggest you get an appraisal done by a licensed appraiser. If you would like to get an appraisal done in Columbus, GA, it usually will cost anywhere between $300 to $450 dollars. When you consider there are tens of thousands of dollars at stake when selling a home, this cost is peanuts and well worth it if there is any discrepancy on what you think your home is worth.
Word of caution – there is a difference between “cost” and “worth”. Just because it “cost” $10,000 to add a very nice wood deck onto your home doesn’t mean the “worth” or value of your home will increase by $10,000. This is where most home owners are mislead about the value of their home – in improvements that they have made. The cost of improvements or modifications do not directly translate into the same amount of increased re-sale value or worth. When you make improvements or modify a home, consider the implications concerning the marketability of the property when it is time to sell (does the modification make the property more appealing to buyers or just me as the current home owner?) and the financial impact (will I recoup my money when it is time to sell or is this improvement just for my enjoyment and satisfaction?).
If you have been considering selling a home and are curious about today’s Columbus, GA home values, call me at 706-442-1084 or contact my here for a complimentary (and 100% human) consultation!
For additional advice of selling your home, you may want to read the following:
ERA Elite Ventures Realty