We get a lot of reader questions each week after we publish the Dallas Real Estate Newsletter, but the question we see most frequently is "What is my home worth."
I suspect that as the real estate market in Dallas metroplex continues to move in an upwards direction, we will start to see more homeowners anxious to enter the market. They have been waiting to upgrade to their dream home or downsize as kids are in college, so it's only natural that they start asking "what is my home worth" as news of continued Dallas real estate appreciation is reported.
What Is My Home Worth? - How We Find Out
Before we get into the gyrations of appraising a home for its market value, I urge you to consider that the market and not your sentiments dictate the market value or potential sales price of your home.
That's right. A professional real estate agent will look at what has sold, what has failed to sell, and most importantly, what is available on the market that will compete with your home for a buyer.
For example, in Coppell, buyers still outnumber sellers, so properly assessing the competition is often worth thousands of dollars to the home buyers. In the highly competitive sellers market in Coppell Texas, knowing the right market value of a property you want to buy is very important, so make sure you understand the strength of your offer in a multi-offer situation.
Choosing homes from the aforementioned categories that are most similar to yours is the key to forecasting its value when you list your home for sale. For homes with values near the median, there is ample liquidity in the market and you will know the answer to "what is my home worth" to a very tight margin of error (like 1 or 2 %).
Online Tools Help Answer - 'What Is My Home Worth?'
There are numerous online valuation estimates, and I think the are a great place to start.
Unfortunately, they are mostly accurate for homes in large neighborhoods where most the properties are highly similar.
As soon as you throw variables at them (lakefront homes for sale versus ones on the other side of the street, homes with swimming pools versus not, etc.), the tools have a tendency to miss out on the features that add value. Thus, for homes in smaller neighborhoods or ones where the amenities differ greatly from one property to another, these online tools have a tendency to overvalue the low end homes and undervalue the higher end homes. In cities like Coppell and Southlake, you run into situations where homes on one side of street fall under a better ISD than the homes on the other side of the street. This impacts their market value immensely.
Here is a list of variables that can impact the market value of a property.
Attic Insulation
Backup Power Generator
Bathroom Addition
Bathroom Remodel
Deck Addition
Entry Door Replacement
Family Room Addition
Garage Door Replacement
Grand Enterance
Major Kitchen Remodel
Manufactured Stone Veneer
Master Suite Addition
Pool Remodel
Roofing Replacement
Siding Replacement
Two Story Addition
Window Replacement
Home Interior Conditions
View
Privacy
Pricing a home requires a REALTOR to spend time with you and understand what has changed in your home compared to the other homes sold in your neighborhood. Nevertheless, many real estate agents will tell you they don't mind jumping to one of these tools to get a general feel for value when they first begin to determine the oft asked client question ... "what is my home worth?"
So if you are itching to move, and you are thinking "what is my home worth," the simplest way to find out is to just drop me a note and let me know where the property is located.
If you would like an up-to-date valuation of your Coppell ISD home, click on the image below or call 469-269-6541 to receive your custom property valuation 24x7
How to get your Coppell home SOLD fast with no stress for the most amount based on market?
Choose a Realtor you can trust
Price it right
Make sure your home shows well
Remove all the roadblocks from showing your home to potential buyers
It takes more than just these four suggestions but if you do the first one (choosing the right Realtor), you'll be in great hands!
Top Coppell New Home Construction Builders
Megatel Homes
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K. Hovnanian® Homes
Paul Taylor Homes
Ask us for our new Coppell TX home buyer discount, cashback and rebate plans! Save money when you buy a new construction home in Coppell Texas with us.
Coppell Real Estate Tips:
You can find new homes and resale homes in neighboring city of Irving Texas that fall under Coppell ISD. These homes can be found in Valley Ranch which is part of north Irving. These homes offer great Coppell ISD schools but are priced lower. Additional beautiful homes can be found in Las Colinas which is also a part of Irving.
bout us: Coppell Real Estate Experts
Get an Advantage
How can both buyers and sellers have an advantage in the Coppell Texas real estate market? Employ the services of a Coppell real estate agent and a Coppell GRI REALTOR who has vast knowledge and experience in the Coppell market.
Make sure to subscribe to my blog so you don’t miss out on any Coppell homes. Click here to find out what your Coppell Texas home is worth and to discuss your housing needs.
For more information about news and events in Coppell, subscribe to Local Coppell News, and for ongoing information about Coppell ISD, check this out.
The above information regarding the “What's My Coppell Texas Home Worth Now?" was provided by Nitin Gupta, GRI, REALTOR. Nitin has experience helping families buy and sell homes in the Dallas/Fort Worth area including Coppell Texas. If you’re thinking of selling or buying in Coppell, he would love to share his knowledge and expertise. Learn more about Coppell real estate market and Dallas County Real Estate news at
The communities he proudly serves include Coppell, Irving, University Park, Dallas, Frisco Flower Mound, Colleyville, Grapevine, Highland Park.
