What’s My Clayton NC Home Worth Today?
The first question that any Clayton home seller asks when contemplating putting their house on the market is what’s it worth. What you can sell your home in Clayton for today will determine many of the other questions that come up when getting ready to sell namely do you want to sell now in todays real estate market or can you afford to sell your home. So who makes up the prices and who determines what to list your home for? The answer is the home owner ultimatly decides what price they want to list their home for after hopefully consulting with a real estate agent and reviewing a CMA showing recent home sales in the neighborhood.
Comparative Market Analysis
A Comparative Market Analysis will show you what similar homes have sold for in the last three to six months. It’s important to not only look at the numbers but take a look at what the homes looked like inside and out and how long they took to sell. If you live in a neighborhood in Clayton where all the homes are the same age, size and were built using similar materials and if there have been recent home sales in the neighborhood then you take a look at each home that sold and compare the condition. What upgrades were done to the homes that sold quickly and for the most money, what was the curb appeal like, the landscaping were any of the major items recently replaced like the roof, the heating and air conditioner, the water heater. Were the appliances new or original and were the refrigerator, washer dryer included. What concessions either financial or otherwise did the sellers make. Financial concessions would be items such as closing costs that the seller paid for the buyer which is common but not required. Whatever the amount of the concessions are is deducted from the proceeds to the seller.
Most Recent Johnston County Home Sales Data.
If you’re looking at the overall state of the Clayton Real Estate Market, here are some figures for August of 2015. In Johnston County of which Clayton makes up the majority of the homes sold, median home prices are up 9.6% over August 2014. Closed sales are up almost 10% from 2014 and listings are up 13% over 2104.
The inventory of homes for sale is down, the months supply of homes for sale is down and days on market is down from 72 to 62 so all indications are that this year of 2015 is a better time to put your home in Clayton on the market versus last year. The average price of a home sold in Johnston County in 2014 was $177,834 and in 2015 that number was $194,976.
New Construction Affecting Resale Home Prices
In neighborhoods that have a mix of older and newer homes, resales and new construction, larger and smaller homes then determining what your home is worth takes a bit more detective work. You can’t compare a ten year old home to a new home that just got built obviously but you have to look at what the new homes are selling for because that could be your competition and you’ll want to price your home accordingly. In recent years many Clayton subdivisions had new construction homes that were priced below what home owners could sell their homes for, it has improved quite a bit as prices of new homes have increased but in nearly all the subdivisions where there are new homes being built it can be a challenge to compete. Once you have found homes that have sold similar to yours in a neighborhood like this you’ll want to compare the sale prices of the resales to the new homes to determine if you have to compete on price.
What Makes Your House Special
There are other considerations to consider when determining a sale price for your home such as the lot size, a 3 acre lot is worth more than a .75 acre lot, are there trees, is it private, is your home in a golf course community and if so is it on the golf course. Is there a view, on the river, near a lake do you have a pool is the community gated is the master bedroom on the first floor. What are your neighbors like will they help or hinder the sale of your home and we don’t mean what are they like we mean what does their house look like.These are all factors to consider when you get ready to list your home in Clayton. Occasionally there are features of a property that it’s hard to put a dollar figure on but the feature makes the property more marketable.
Days On Market In Clayton
How long does it take to sell a home in your neighborhood is another important factor when considering how much your Clayton home is worth. In popular neighborhoods where the supply of homes is limited home sellers can get more for their homes because of supply and demand. Buyers who want to be in a certain neighborhood whether it be because of the schools or the location, it could be the amenities or it could be the size of the lots will often pay more or buy homes that might need some work. If there are no homes for sale and buyers want to be in that neighborhood it can also lead to bidding wars when a home comes on the market. Days on market is a very good indicator of what your Clayton, NC home is worth, the shorter the time the better the chance of you getting your asking price.
Repairs, Improvements New Paint.
Taking a cold hard look at our houses before we sell is not always easy and that’s why a second opinion of someone with experience is a good idea. Home repairs and improvements can be costly and time consuming and if you’re doing them to get the house sold and not for your own use that stings even if it means the house may not sell without them. However sometimes what a home seller may think they need to do in order to sell may not be required to get the house sold. Carpets is the first thing that comes to mind when talking about getting a home ready to sell. They wear out, get stains that don’t come out, they smell and they aren’t hardwoods! Offering a carpet allowance while it may sound good is no substitute for having new carpet installed if getting them cleaned is not an option.
Professional painters are not cheap and the good ones are usually busy but you should be able to tell a home that has been professionally painted. If you are the type of person that can stay between the lines and cover your brush strokes you will save a lot of money doing the painting yourself, remember builder beige or a neutral color is what works. Homes that have rooms painted in everyones favorite football team can be a challenge. Plumbing fixtures and kitchen countertops come in for scrutiny when people look at homes for sale and if they are dated they will affect the sale of the home. Sometimes sellers will bite the bullet and have new granite countertops installed and the fixtures replaced just to get the house sold because the homes that are selling all have them.
Forget The Zillow Zestimate.
Zillow the big real estate website has a thing called a Zestimate where you can put in your address and they will throw a number back but it’s not reliable and they do state that it is just a starting point and shouldn’t be taken as fact. Some of their data is either out of date or not relevant to the property. Which brings us to the appraisal which in most cases will be ordered when a home in Clayton gets sold. Most home sales involve the buyers applying for a mortgage to purchase the home and so the bank will order an appraisal to determine that the sales price is what the home is worth. An appraiser will find the most recent sales that are comparable to the property and determine a sales price. What happens if the appraiser says your house in Clayton isn’t worth what the sales contract is written for? There are a couple of scenarios by fare most common one is that the seller drops the sale price of the home to the appraised value, if not then the buyers don’t get the loan. The buyer if they want the home badly enough could pay the difference in cash which means the loan amount would be based on the appraised value and the bank would be satisfied. The seller and buyer could agree to split the difference or if nobody has the money to bring to the table, if the seller cannot afford to sellout the lower price they take the home off the market.
Real Estate Agents Advise On Home Sales From Around The Country
Here are some very insightful articles from real estate agents around the country on the subject of home prices, what homes are worth, what to avoid when selling your home and what it takes to get a house sold these days.
- What Factors Influence The Sale Price Of A Home by Kyle Hiscock who is a real estate agent in the Greater Rochester New York Area.
- Selling Your Home? Avoid These Common Mistakes by Ryan Fitzgerald, Ryan is a real estate agent in the Greater Raleigh, NC Area.
- What Steps Are Involved In Selling A Home? by Lynn Pineda who is a Coral Springs real estate agent who helps people buy and sell homes in South East Florida.
- Are Zillow Home Value Estimates Accurate by Bill Gassett, Bill is a top producing real estate agent in Massachusetts who is an expert in getting homes for sale in Massachusetts exposed on the Internet.
If you are looking for a Clayton real estate agent to help sell your house, call David at 919-601-2268 or email him firstname.lastname@example.org