Buying or selling a home is one of the most significant financial decisions you will make in your lifetime. Before you can make an informed decision, you need to know the value of the property. Whether you’re a homeowner, a potential buyer, or a real estate investor, understanding the factors that affect home values in Roanoke VA is crucial. In this guide, we’ll take a closer look at what determines home values in Roanoke VA and how you can determine the value of a property.
Roanoke VA, also known as the “Star City of the South,” is the largest city in southwest Virginia. It is home to a population of over 99,000 people, making it a thriving city with a diverse culture and economy. Roanoke VA offers its residents a high quality of life, excellent schools, and affordable housing. However, like any other city, the value of a home in Roanoke VA depends on several factors.
Location: The location of a property is one of the most critical factors that affect its value. In Roanoke VA, the value of a home is influenced by its proximity to amenities such as schools, hospitals, shopping centers, and recreational facilities.
Size and layout: The size and layout of a home are also significant factors that determine its value. In Roanoke VA, larger homes with more rooms and bathrooms generally have a higher value than smaller homes.
Age and condition: The age and condition of a property are also essential factors that affect its value. Newer homes in excellent condition generally have a higher value than older homes that require significant repairs.
Market demand: The real estate market in Roanoke VA is subject to demand and supply factors. When the demand for homes in a particular area is high, the value of homes in that area tends to increase.
Look at Comparable Sales
A comparative market analysis commonly known as a CMA helps professionals to determine home values in Roanoke VA. This is done by the comparing the sales price of similar properties located near yours. If the comparable properties surrounding the home have features that the property is lacking, these predetermined values would be deducted from the average selling price of the most likely properties.
It would be wise no matter which way you decide to sell your home, to have your own CMA performed. Then you’ll be aware of the value of your home, based on the current actual market value. By doing so, you can avoid being shocked or insulted at what you may feel is an insultingly low offer from a buyer.
If you would like to have a CMA of your Lynchburg VA home please call us at 434-390-2906 to schedule a time.
To maximize the value of your property, you need to prepare it for sale. This includes making any necessary repairs, cleaning the property thoroughly, and ensuring that it is in good condition. It’s also a good idea to stage the property to make it look more attractive to potential buyers.
Being forewarned is being forearmed and never is this more true than when you’re selling your home. It would be wise to order an inspection of the property to help determine your homes value in Roanoke VA. If you find something is seriously wrong with the property, you may want to fix it, or make other smaller repairs out of pocket before putting the home on the market.
You’ll have to determine if you want to go ahead and invest more in the home and make the repairs in order to reap a larger profit or sell the property “as-is,” deducting this expense from the asking price will give you a realistic current market value.
If you don’t want to worry about repairing or cleaning up your property. We’ll buy your house in as-is condition… no matter how ugly or pretty it is… no matter the location. You don’t have to Clean, paint, or fix a thing. Give us a call or text anytime 540-596-5030 or fill out the short form here today!
When you set out to determine home values in Roanoke VA, in addition to your marketing costs, should you choose to work with an agent there will also be commissions. The commission is based on a percentage of the sale price. As there are two sides in a real estate transaction, the typical commission is near 3% per side, so a home selling for $400,000, would deduct $24,000 from your profits alone, along with the traditional seller’s closing fees. It’s also possible that the closing agent and the real estate agent’s office could charge transaction fees.
If you accept a cash offer from Linken Investments, we don’t charge commissions, and we pay all closing costs. Think of all the time and money that can save you. There’s no easier or quicker way to sell your property and get on with the next chapter in your life. Call 540-596-5030
Linken Investments, Roanokes’s Trusted Home Buyer and Seller
Why not let us assist you in determining the value of your home with no obligation?
We set out to solve the problems that Roanoke area home sellers face by giving you a way to see all of your options in one spot, letting you choose whether you want to maximize the price of your sale by listing on the Roanoke MLS or whether selling fast and simply for cash is more important.
So rather than just telling you what you can list your house for on the market like traditional Roanoke real estate agents, or making a “take it or leave it” offer like many real estate investors, at Linken Investments we’ll give you both a cash offer and the option to maximize the value on the market (with our cash offer in your back pocket).