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How much could your home sell for? Or how much should you expect to pay for a specific home in your target neighborhood if you’re home shopping?
There are a lot of factors that go into answering that question, including the home’s condition, rooms, square footage, and much more. However, the most important question isn’t about the house itself at all. Instead, it’s about how much similar homes near you are selling for.
The most accurate way to get this number is to have a comprehensive market analysis (CMA) done by an experienced real estate agent. However, if you want a general idea, you can look at home prices near you in other ways. These prices are often called “comps,” and can help you understand whether a home is overpriced or underpriced.
Here are four quick and free ways to find prices of homes sold near you!
Look for Recently Sold Listings On Portals
With the popularity of online real estate portals like Zillow and Redfin, most homes are listed online as part of the overall marketing plan. That often means that you can use these portals to check the sales price when a home sale is finished.
Be sure you’re comparing correctly. You want homes to be in the same neighborhood, with the same proximity to traffic, schools, and other amenities. Be sure they have the same number of bedrooms, bathrooms, and square footage.
Finally, be sure you aren’t missing important details such as renovations, updated appliances, or kitchen style. If these don’t match your target house, you haven’t found a good comparable property.
A couple of things to keep in mind: A sale price doesn’t tell you the full story of the deal. There could have been a lot of seller’s concessions, such as a promise to do repairs or pay closing costs before the deal was finalized. Secondly, be sure you’re using the sold price, not the for sale price — if the deal isn’t finished, you don’t know if they’ll get the price they’re asking.
Take a Look at Realtor.com’s Recently Sold Homes
Another great way to find out what has sold recently is by going to the database on Realtor.com. Type in the city and state (Des Moines, IA) and click the search button.
You’ll see recently sold homes with the most recent first. From there, you can use the filters at the top to narrow your search by bedrooms, bathrooms, home size, and more. This will help you quickly find homes that are most similar to yours so that you can determine comparable prices.
This is one of the easiest to use resources, so don’t be shy about starting with this one!
Ask a Real Estate Agent to Do a CMA
Professional real estate agents in your area may be willing to do a CMA for free in order to possibly win your business. Because the realtor is a professional who works in real estate all the time, they’ll be able to give you the best information and most accurate comparisons.
You can expect an agent who provides a CMA for you to also give you a presentation about why you should work with them on your home sale or purchase. There’s a lot to be said for having a professional on your side during your transaction — that’s why we recommend working with a Clever Partner Agent for a low-cost, full-service listing or buying experience.
Realtors have access to different online sites and more detailed information about a sale than consumers have public access to, so this can be a great resource.
Check Trulia’s Public Records
Trulia has a listing of U.S. Assessor records which can give you a lot of free information about properties in your neighborhood. You’ll click through the state, county, and zip code you’re interested in. Then, you can look at the records on specific streets.
What you want to do is select the address you’re interested in and scroll down to Comparable Sales about halfway down the page. This will show you similar recently-sold homes. You’ll need to take the same steps you would when looking at other listings online — be sure they have the same square footage, rooms, and similar location.
Unfortunately, not everything listed as a comparable sale in this record is truly comparable, so do your research as well.
Work With a Realtor to Get the Best Information
Have a real estate agent on your side can help you sell your home for the best price or get the deal you’re looking for on your next home purchase.
If you’ve been avoiding contacting a realtor because you’re afraid it’s too expensive, consider a Clever Partner Agent. If you’re selling your home, instead of paying a 3% listing commission, you can get a low flat fee of $3,000 (or 1% if the home sells over $350,000). You’ll get the same full-service experience you’d expect from a professional, just for less money!
As a buyer, you definitely want to have a top-rated buyer’s agent on your side. They can help you find your dream home for a great price.
Either way, we’re here to help!