Whether you want to sell your Lake of the Woods home soon or don’t plan on putting your home on the market for a year, it is important to know the current market value of your home when making decisions. The market is fluid and constantly changing, so the value of your home a year ago may not be what it is worth today.
With all the recent changes in the housing market, a lot of people are wondering how much is their home worth. Locust Grove, Virginia and the surrounding area housing market have all been impacted by the effects of COVID. People were hesitant to move which lead to fewer houses on the market; in turn, buyers looking for homes had fewer choices which lead to competition and increased sales prices. Just like sellers, some buyers decided to wait for more inventory before continuing their home search.
While it appears to me that the market is starting to return to normal, it is still important to know how much your home is worth. Knowing this information, along with how much you paid for your home and what balance is left on your mortgage, can help you to make the most informed decision when you are ready to sell.
There are websites that will offer you an instant number for the value of your home, but these are not always accurate. Seeing your home in person is so important in deciding price. A local Realtor®, like me, is more knowledgeable of the nuances of the local market and can give you an accurate valuation for your home. Even if you don’t think you want to move immediately, it’s still good to talk with a real estate agent and discuss your goals. I can even offer suggestions of things to do in your home to improve its value while you are making decisions.
If you complete my free home valuation form, I will be in touch with you to share how much your home is worth.
