Newport Beach home values change as a result of the market, and economic conditions. Other factors that influence the market are recent home sales in your immediate neighborhood. What are your option for finding out about the value of your Newport Beach home?
Internet estimates
There are many websites that offer you “instant” value of what your home is worth. does an instant estimate know about that kitchen you recently remodeled, or any other improvements in your neighborhood or area? Generally speaking, instant estimates may not be accurate or reliable.
Appraisal
You can hire an independent appraiser to come out and provide you with the value of your property. There is a fee which ranges anywhere from 350 to $500, and Appraisers will look at recent neighborhood sales and consider number of bedrooms and bathrooms of your property, and if there are upgrades which affect property value.
Realtor Valuation | Comparative Market Analysis
A licensed Realtor will generally provide this service for a free, but I recommend hiring a Realtor who knows the neighborhood and the market. There are many subjective considerations especially in Newport Beach, such as view. What kind of view does the property have, and what is the value? Also, when selling the house, how is the value of that view translated to an Appraiser if the buyer is obtaining a loan on the property. Other considerations are the schools, recent community/neighborhood upgrades such as putting the utilities underground, which is been completed in part of Newport Beach, but not all. Having knowledge of this and being able to articulate this to a seller is important when establishing value.
All of my CMA’s are personalized with regard to not only the neighborhood, but recent upgrades and takes into account all of the upgrades in the property, number of bedrooms, bathrooms, lot size, permitted property size also. This is a service offered at no charge to a perspective seller considering selling their home.
If I can answer any further questions about the valuation of your Newport Beach home, please contact me.
For more information, and to obtain a no charge market analysis of your property, please fill out the form below.
