Three Reasons Why You Need To Know What Your Home Is Worth
Why do you need to know what your home is worth? Things you hadn’t thought about. A reason you could request a market analysis on your home today. Three of these instances came from three phone calls we received just this morning.
DO YOU HAVE ENOUGH EQUITY TO REFINANCE?
Our customer had purchased the home brand new around 2006 or 2007 through the builder. Well, somehow they got talked into this adjustable rate mortgage. So now, the rate has gone up. And now they want to refinance and they cannot find any lender that will help them refinance.
So I did a market analysis on it. And gave my opinion of what I thought their house could sell for if they chose to list and sell with me. So they only have a few options: to continue paying the higher rates that keep going up, or sell it and move on.
Now they have a decision they can make and some numbers to work with. They can make a decision on that.
DID YOU FIND A NEW HOME YOU LOVE...MORE?
The second instance was sort of like a flip. A customer of ours who bought recently, fixed up a condo and then found a house he liked even better. So with knowing what we could sell his condo for, he was pretty happy with it, and probably going to make money on it even though he only bought it a few months ago. See if you could sell. Maybe you could be in the home you really want to be in.
DO YOU HAVE A LEGAL SETTLEMENT?
The third instance that came up today is divorce decrees (or other legal settlements). Sometimes people need to sell their home quickly as part of a divorce settlement. An attorney called us in the middle of a mediation needing to know what a home was worth because the divorcing parties could not decide whether to accept an offer they received on the home. And there was no real estate professional involved. So being able to provide a market analysis (or home evaluation) on the fly, they were able to make a decision whether or not to accept an offer.
So a recap on three reasons why you need to know what your home is worth. 1) To refinance, and to make sure there is enough equity in your home if you need to refinance or sell. 2) If you just did a flip or you are stuck in a home that you’d like to get out of quickly. That way you can evaluate again what the home is worth and what you could sell it for. And 3) in the middle of a divorce where you know exactly what your home is worth at a professional level and what you could get for it to maximize your equity in your home.
If you request a home evaluation, there’s no charge. There’s no strings attached. So if you want a quick and easy way to get an evaluation on your home, give us a call at (904) 219-7539. We’d be happy to help you out and get the numbers you need to know to make the right move. Get a FAST and free home evaluation on our web site (https://www.chadandsandy.com/cma) and you’ll get a professional 3-minute VIDEO home evaluation sent straight to your inbox.