The Value of Your Home

May 6, 2024

By Isabel Guzman, Realtor®

Video Transcription

If you're considering selling your home and you're unsure about the price, or if you're thinking about buying and want to know what price to offer, this information is for you. Hi, I'm Isabel Guzman, Broker associate and realtor with eXp Realty. I've been selling real estate for over seven years and have completed numerous transactions, so I know how to accurately determine market value. Here are a few things to consider when purchasing a home in New Braunfels and the surrounding area: size, condition, location, marketing, and negotiation. All of these factors significantly affect the price.

For instance, you can't compare a home that is 2,000 square feet to one that is 4,000 square feet—it's like comparing a Maserati to a Hyundai; they are not comparable. You need to ensure you're comparing homes of similar sizes, just like an appraiser would. Typically, appraisers look at homes within a 200 to 400 square foot difference, both higher and lower, to use as comparables for determining a home's price. If there's insufficient inventory, they will make adjustments based on the size difference.

Condition is another crucial factor. Think about it like comparing cars: you can't compare a beat-up old car to a brand new shiny one. Similarly, when pricing a home, you need to consider how upgraded it is, how modern it is, the quality of the landscaping, and its location. Is it close to highways and shopping? How does your home compare to others? It's natural to feel like your home is worth more because of your emotional attachment to it, but you have to objectively consider all variables. Underpricing or overpricing your home can cause you to lose money. If you have any questions about determining the correct price, give me a call—I'm always happy to help.