Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

July 1, 2018

Curious About Your Home's Value?

Solano County Home Valuation ImageHave you ever wondered what your home is worth in today's market? Sure, there are many reasons a home owner might want to know the value of their home - insurance purposes, property tax calculations, estate tax planning, refinancing your loan or just curiosity. You may also be thinking about selling your home as well.

There are a few ways to come up with a value range of your home's value that include: doing your own research on sold homes and current active and pending properties (least accurate), get an online home evaluation, have a REALTOR® do a Comparative Market Analysis (CMA) or hire and Appraiser to the valuation (most accurate).

Appraiser

The most accurate method of getting your home's value is to hire an appraiser. In Solano County, this can cost between $450 and $600. Normally when a buyer has an accepted conventional or FHA/VA loan, one of the requirements of the buyers lender is to conduct their own appraisal of the home being purchased and financed. Here the buyer pays this cost as part of the buyers costs to purchase the home. If you want to learn more about the Appraisal Process you can download this Guide to Understanding Appraisals prepared by the Appraisal Foundation and made available by the National Association of REALTORS. (note: We have worked with hundreds of appraisals and if you have any questions about this process, email, text or call).

Comparative Market Analysis (CMA)

The next most accurate home valuation is where we hand pick recent sold comps (last 6 months) and use similar attributes as an appraiser to zero in on comps. We provide a scattergram of similar beds/bath homes based on price  and square footage as compared to your home's square footage. You can see where your home falls on the trend line as compared to the comps used in the analysis. We also provide a very detailed report showing details and photos of the comps used in the report so you can see homes similar to yours. Our CMA also includes some valuable insights on the CMA vs Appraisal process and other helpful information in this process. You can learn more about our CMA process here »

Automated Online Valuation

Another way some homeowners (and some buyers) come up with a value range on their home is to use an online valuation tool sometimes referred to as an automated online valuation. With this method a home owner is usually required to input their home address, city, state and zip code, then hit a submit button. The next step might be to put in any additional information like condition or reason for the home valuation request. Software will then match your home's attributes to recent sold homes and come up with a value range. We offer an automated version that you can access by going here »

Doing Your Own Research

This is probably the least accurate and probably the hardest for a home owner to come up with a realistic value range of their home. You've heard the old saying "a home's value is what a buyer will pay for the home". 

 

 

 

Feb. 1, 2018

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July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates