A small, picturesque city in Ventura County, California, Ojai has become a popular relocation place. A lot of families are in search of a quiet, and peaceful life. That's why now is the perfect time to sell your home if you want to move elsewhere. Homes in these locations are in demand. But before you even think about looking for a buyer, let's see how to determine the value of your Ojai home.
Why it's important to determine the value of your Ojai home
Seller's remorse often kicks in after closing the deal. One way to avoid it is to get the best possible price for the house. If you sell it under its value, you are only at a loss.
With that said, even if you have a price in mind, it is best to check if your property is worth more.
Know the value, so you don't fall for any tricks during negotiation
One of the common fears of first-time buyers is spending more money than intended. That's why buyers like to negotiate, especially if they find a place they like. By understanding the actual value of your Ojai home, you can avoid making mistakes. Sellers often think that they are overpricing their homes. Once you know the true value, that cannot happen.
More money from the sale will help with additional expenses
If your home is worth more than you think, you will earn more cash from the sale. That means your budget for other things, like buying a new place or even planning the relocation, will grow.
Relocations can turn out to be expensive, especially if you need special services. Getting more cash for your home will help you take care of everything without worrying about financial issues.
Knowing how to evaluate a home will come in handy when buying a new one
Once you call someone to determine the correct price of your home, you will know what factors are crucial. This will help a lot when you decide to buy a new house. You will be able to tell yourself if the house has any value to it.
As you can see, there are many advantages to knowing what the value of your home is. Now that we have that out of the way, let's see the best ways to do it.
Work with a local real estate agency
The majority of people hire a real estate agent when buying or selling. They understand the market and know everything about the properties in the area. Real estate agents can do a comparative market analysis for you. They will compare your home with the rest of the houses in the neighborhood and give you an estimate. Just have in mind that this estimate is not as precise as a professional appraisal.
Hire an appraisal agency
If you want to get more precise results, an appraisal agent is a better option. They will come to your house and perform a full appraisal. That includes:
These are just a couple of examples of what an appraisal agent will look at.
Another critical thing to know is that you don't have to look for an appraisal agent yourself. If you are working with a real estate agency, they probably have someone to recommend. Furthermore, know that lenders often send their own appraisal agents to avoid any "funny business".
Do online research
If you want to do the appraisal yourself, you can use a free online tool. If you do a simple Google search for the area, you will find a bunch of online property estimators. These are called automated valuation models, or AMS. This is an excellent way to find out an approximate estimate. It is not as precise as other ways, but it is free and convenient.
FHFA House Price Index Calculator
For those who do not wish to rely on AMS, there is always the option of using the FHFA house price index calculator. The Federal Housing Financing Agency offers a more precise calculator on its website.
The tool uses a vast database of millions of mortgage transactions dating back to 1970. FHFA has complete insight into the price fluctuations from one sale to another. The one thing to keep in mind with this approach is that it does not include seasonal pricing or inflation.
Nevertheless, if there are no special situations that might affect the housing market price, this approach is the best to use. In any other situations, it is better to speak with a real estate agent because they know the current market better than anyone else.
You sold the home - what is the next step?
Planning the relocation usually happens at the same time as selling your home. Zapt Movers suggest that you start with the decluttering process immediately since it will help with the move. Think about what furniture you won't be using in your new place. If there are some good pieces, you can sell them with your old home. This will even raise the price a little.
Another option is to make a yard sale. Sell whatever you don't need anymore, and pack the rest. One of the benefits of selling an empty home is that the buyer can envision the new layout easier.
Knowing the value of your home helps in many ways
As we can see from the examples mentioned above, one of the best ways to determine the value of your Ojai home is with the help of a real estate agent. Other approaches may also give good results, but a realtor helps with many processes along the way.