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How is house value determined? Whether you are buying an Elk Grove home or selling an Elk Grove home, the value of the house is always the most important. So what goes into determining the value of your house?
There are a number of factors that go into determining the value of your Elk Grove home. These include:
1. Location, Location, Location of course. A house on a busy street, one that backs to a busy street, one that is right next to the railroad tracks or freeway will be less valuable than one sitting next to a greenbelt or on a quiet cul de sac for instance.
2. Condition – Does your house have deferred maintenance? Or is it in top condition? Has it been updated? Or is everything including central heat and air, appliances, water heater all 20+ years old.
3. External Characteristics – curb appeal, size of lot, the style of your home compared to others in your neighborhood and the condition of your roof. All of these things come into play when determining the house value.
4. Supply and Demand – the number of homes for sale in your area versus the number of buyers. Or how quickly homes are selling in your area.
How can you find out your Elk Grove house value?
There are many ways to determine value. First you could hire an appraiser; this will normally run approximately $500. Second, you could check your Zestimate on Zillow; this is normally not accurate. Or you can call your local Elk Grove real estate specialist and have them complete a free market analysis on your home. This will give you a very good idea of your Elk Grove home’s value.