As an owner of your own house, it is so important to find the value of your home before selling. As of June 2021, prices of homes in Anaheim went up by 21.3% compared to prices recorded in the previous year. Generally, the average days to sell your home on the market in Anaheim is now 28 days in comparison to 41 days in the previous year. The number of homes sold has skyrocketed from 146 homes in 2020 to 250 homes in June 2021. So, finding the value of your home first can save you time and ensure you sell your home at the best price.
The average value for homes in Anaheim is around $761,509. However, the value is not stable as it is subjected to seasonal changes, and the values of Anaheim homes have skyrocketed by 18.3% over the previous year. If you are wondering how you can sell a house fast in Anaheim, you need to start by understanding the value of your home. A proper home valuation in Anaheim will help you sell your house at the value it deserves .
Why is home valuation in Anaheim essential?
Deciding to sell a home or business takes a lot of thought.. However, there is a crucial aspect that should be handled very seriously, and that’s knowing the worth of your home. Before selling your house, it is necessary that you understand the importance of home valuation in Anaheim. Getting cash for homes in Anaheim is good; however, it is essential that you know the present value of your property. This is because there is always constant fluctuations in the prices of homes, and the value of your home can change depending on where you live.
For this reason, home valuation in Anaheim is essential to assess whether the timing to sell your property is correct. Another problem is your property simply might not interest the buyer. In this situation, buyers will try to bargain for the lowest price. Even though you want to sell your house fast in Anaheim, , you still need to find the value of your home so that you can put your property on the market at the right price.
What do they look for in Home Appraisal?
There are different things that appraisers check if you want to calculate the value of your home in Anaheim. You can review Fannie Mae’s Uniform Residential Appraisal Report (URAR) to see what an appraiser will check in a property.
When using the Uniform Residential Appraisal Report, the appraiser needs to verify the specific properties of the house, such as the structure, age, and location. Specifically, the appraiser will look at the appearance, location, construction quality, roof’s integrity and foundation, problems with drains or floors, and the parking facilities, and the observable external condition of the house. In addition, the neighborhood has a significant effect on the value of a home. Besides the external check, the appraisers check the inside of your home.
Inside the house, the appraiser mainly focuses on the total area and the functional division – the use of space. Appraisers check how many bedrooms & bathrooms there are and the size of the rooms. They also check the heating, electrical, and plumbing systems. Some other health and safety concerns are fire escapes, railings, and electrical appliances. The appraiser will also check the conformity and structural integrity of the walls and support beams.
The main tool used by appraisers when calculating the value of your home is “comparable sales.” This means comparing the price of a home of the same age, size, and construction to a home recently put up for sale in the same area. For example, say three similar properties were sold for between $400,000 and $450,000 last month. The appraiser began adjusting the price accordingly based on the property’s characteristics, such as the parking situation, the yard size, and the needs for maintenance. To find the value of the house, the final estimate was based on market trends, current selling prices, and specific features of the house.
What are the things that devalue the home?
There are many factors that can affect the value of your home, especially when you want to sell your home fast in Anaheim. The things you can’t change are the size of your home block, the proximity of your home to stores, and the distance from the local top school. However, there are many factors that affect the value of your home that you can avoid as a homeowner.
Some of these factors are listed below.
- DIY renovation goes wrong – If you are trying to do a DIY renovation in your home and it went wrong, it might reduce the value of your property. Although investing money to renovate generally adds value to your home, if it is not properly handled, it might have an adverse effect. If buyers feel they need to renovate, they will likely lower the price or move forward to find a home already ready to move into.
- Neighborhood – In addition to nearby foreclosures, many other aspects of the neighborhood can affect buyers’ willingness to bid. For example, if you live near an airport or train track, the resulting noise pollution might reduce the value of your house. Too much light from highways or sports facilities can also pose a discouraging factor to buyers. Power plants and landfills will also put your property on the bad side.
- Overall disrepair – Things like dirty tables, peeling paint, collapsed garden shed, non-functional sliding doors, cracked concrete, and old carpet will reduce the value of your home. Most people will turn the other way and look for a home that doesn’t need all those repairs.
How do Anaheim home prices rank nationally?
According to the Orange County Register, in 2018 Zillow’s mathematical calculations stated that the Orange County housing market ranked fifth in the U.S. in November. With an average house value of $696,200 which is the 13th highest in more than 1,700 U.S. counties surveyed, it ranks 212th in the country with 44.7% growth over the last five years.
As of November 2018, Zillow has recorded real estate values in Anaheim compared to about 13,000 other US cities.
- Market size: Anaheim ranks 49 in the country.
- Price: In number 667 in the country or top 6 percent with $578,600
- 5-year gain: Top 12 percent, ranked No. 1,411 and gained up to 53.8 percent.
- 10-year gain: Top 54 percent, ranks No. 6,252 and gained 2.9 percent
So, are you trying to sell a damaged, run down home in Anaheim and looking to find the value of your home? We want to buy it regardless of the condition and offer the highest possible we can that best fits your situation. Contact John Medina Buys Houses today for all your home selling needs!
John Medina specializes in helping homeowners in Anaheim, CA sell their homes fast at the highest price with no realtor fees.