Katy Texas Home Values

Looking to find out what your Katy Texas Home is Worth? You have found the right place. 

How Realtors Determine Your Katy Home's Value  

When Realtors Places a home for sale in the multiple Listing Service, they first must determine a list price.  This is done by what we call a CMA (Comparative Market Analysis). There are Three main Factors that we look at that each are very critical in determining the value of your home. They are Sold listings, Expired Listings, and Active Listings.

Sold Listings-----------------------------------------------------------

  In Order to price your home right, we must compare your property to recent home sales in your subdivision.  This is done by going back six months and comparing the price per square foot in the different homes that have sold in the area.  We can then determine what the lowest, average, and highest price per square foot sold in the Subdivision. 

Expired Listings---------------------------------------------------------

Expireds are properties that were on the market and did not sell.  There are several reasons why homes will not sell.

• Reason #1 Location

The location of your house is what is and cannot be changed. In the buyer's mind a house on a busy street, near power lines, next to or backing up to a commercial business or perhaps too close to a school is less desirable.

Homes located in a quiet cul-de-sac, backing up to a greenbelt, or offering an exceptional view are more desirable.

• Reason # 2Price

Every home owner wants to sell their house for as much money as possible, but many times if the asking price is too high your house will help sell other houses in your area. Over-pricing property usually has the following effects:

1. Increases market time, which causes homes to sell for less than market value.
2. Buyers who should be looking at your house will not see it because it is out of their price range.
3. Buyers who do look at it purchase larger homes that are priced the same.
4. You receive low offers or no offers at all. Remember, a higher asking price does not automatically equal a higher sales price. The more you overprice a property, the more likely you will sell it at a price lower than it is worth.

You want to price your house to attract buyers for your neighborhood. The more buyers you have the more they will compete for your house, which will drive your price up. Then you can receive offers over and above your asking price

• Reason #3 Condition

Buyers are wanting to get the most home for their money and many times are looking at new homes as well as resale homes.  Buyers will pay top dollar for homes that are in pristine condition. Your agent should be knowledgeable in this area and can make suggestions of minor things you can do to help your home show its very best.

• Reason #4 The Market

The real estate market is always in one of three types of markets.

1. A hot seller's market where there are low inventory and more buyers which, in turn, drive selling prices up.
2. A normal stable market where there is an equal number of buyers in proportion to the number of homes for sale. The result is home prices remain stable.
3. A buyer's market where there are more homes for sale than buyers who want to buy. This, in turn, will cause home prices to decline.

• Reason #5 The Agent You Choose

Any agent will show enthusiasm and will want to list your house for sale. Unfortunately, many agents still cling to ineffective marketing ideas that do little to sell your home, which means that you miss out on the best buyers. Choose your agent based upon

1. Experience at listing and marketing houses for sale.
2. Ability to use technology to market your house world wide to buyers 24/7.
3. Reviewing with you a comprehensive Marketing Analysis of home sales in your area.
4. Ability to offer a step-by-step 30-DAY MARKETING PLAN that will get your house sold at the highest possible price, within a time frame that best works for you.

Active Listings-------------------------------------------------------

The Final Factor in Determining Your Katy Home Value is the competition, Also know as the Active Listings. In order to price your home right, we must look at what your property is going to be competing against.  This is a very critical component in determining the list price because the last thing you want to do is be priced higher than similar properties if you are comparing apples to apples.   

There are many important factors in determining your home's value, that's why it's important to hire a Katy Tx Real Estate Area Specialist that knows the Katy Market Trends.  It is important to list your property right the first time in order to sell your home for the highest price possible in the least amount of time. 

See What Your Home Is Worth Now

If you are thinking about selling your Katy Home and would like to know what homes in your area have been selling for visit our Katy Home Value Finderfor and instant comparison of homes that have sold in your area.

While this is useful information, it should not be used in place of the more extensive CMA that I can provide at no cost or obligation if you are thinking about selling. For a Free Katy CMA contact us directly at 713-885-8048.