REFINANCING
How Much Is Your Home Worth?
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- great place to start
- keep value top of mind
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Phair-Hinton Group
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We know you care about your home's value, but how can you be sure you're getting reliable info? Between appraisals, assessments, automated valuations, and CMAs - it's hard to know the difference, and what numbers to trust.
Quick automated valuations (like the one above!) are a great starting point for anyone interested in a general estimate of their property's worth.
The value of your home is calculated using a combination of publicly recorded factors including location, age, size, neighborhood sales, etc. Our automated valuation tool is dynamic and can be influenced by data such as inventory trends, interest rates, and current buyer sentiment.
Just curious? Not sure your exact timing? This is a great place to start.
Getting more serious? Have a chat with a seasoned listing agent about the specifics of your home. You can share pros and cons like aesthetic improvements and structural upgrades, unique quirks, or deferred maintenance projects. Your PHG Listing Agent can dig into the local market trends and give you a clear picture of what buyers might be willing to pay.
Let’s get up close and personal. Meet with a PHG Listing Agent at your property and we’ll give you an accurate (and FREE!) valuation. We’ll cover everything from macro-economic factors to neighborhood trends, and how your home measures up against the competition.
Your agent will also factor in recent renovations, unique features, historical value, architectural significance, and subjective market perception that could impact your home’s actual market value.
If you're thinking about selling, NOW is the time to get a visit with a PHG Listing Agent on the books.
Sometimes you're just curious. Other times a home valuation is a critical next step.
REFINANCING
Lenders base the amount of their loans on the value of your property and usually allow you to borrow a maximum of 75% to 96.5% against your property. Knowing what your home is worth allows lenders to calculate your equity in the home. The more equity you have, the better terms you will receive on your refinance.
HOME IMPROVEMENTS
If you’re doing home improvement projects to increase the resale value, you want to make sure you’re not pricing it out of the market. If your home is already priced on the high-end for your neighborhood, making too many improvements could make it more difficult to sell. When you get a valuation, you can see how your home compares with others in the neighborhood and let this guide your home improvement decisions.
QUALIFYING FOR CREDIT
If you want to borrow cash against your home, getting a Home Equity Line of Credit (HELOC) could be a good option. To qualify, you must have a certain level of equity in your home. Most lenders require at least 20%. Getting a home valuation will help you determine if you qualify and will be used by the lender to make a decision on your loan.
PLANNING
Though it’s not a necessity, simply knowing the value of your home is good information to have. It will help you plan for the future and deal with unforeseen circumstances when you might be in a position that requires extra money or a quick relocation. Knowing how much equity you have in your home and how much you may be able to borrow against it or sell it for will help you respond to any financial curveballs that life throws at you.