As you have no doubt seen in the news, home values continue to skyrocket both locally and nationally. According to the National Association of Realtors, home values rose faster in 2021 than any other time on record. And although higher interest rates have helped to slow these increases, home values are still continuing to rise in 2022. So how does this affect the value of your Rancho Santa Fe home? And why is it important to know the value of your home whether you’re buying, selling, or staying put? Let’s find out.
You will know how to price it if you’re selling
Obviously, it’s important to know the value of your Rancho Santa Fe home if you’re putting it on the market. While many homes have been the subject of bidding wars and competition amongst buyers is fierce, that doesn’t mean you can price your home sky-high and expect the offers to come rolling in. If you price too high, then you scare off buyers. But if you price too low, then you risk leaving money on the table. Finding that sweet spot in the middle is key.
You can make a competitive offer if buying
So how does knowing the value of a home help if you’re a buyer? When you have an understanding of how much a home is worth in today’s market, then you can make a competitive offer. Buyers still outnumber sellers, and many homes receive multiple offers once they’re listed. When you determine the value of a home, you’re more likely to be able to predict its final selling price, regardless of what its listing price happens to be. This can help you craft your offer so that it stands out.
You can leverage new equity
It’s easy to see how both sellers and buyers can benefit from knowing the value of a Rancho Santa Fe home. But what about homeowners who aren’t planning to move anytime soon? Current homeowners can take advantage of rising home values, too. When the value of your home goes up, so does your equity. There’s no doubt that your home equity has increased fairly substantially over the last year. You can use that equity in various ways. Tap into it to fund home improvement projects or pay for a college education. Your equity will help you qualify for a home equity loan or home equity line of credit, which can be used to pay for those projects or personal goals you’d like to complete.
Find out the value of your Rancho Santa Fe home right now
Would you like to discover the current value of your Rancho Santa Fe home? Then visit our website for your personalized home valuation report. Simply answer a few questions, and in just 30 seconds you will receive a FREE comprehensive report, no strings attached. Think of all that you can do with this valuable information.
Contact the Lucy Kelts Collection today
Are you dreaming of buying or selling a luxury Rancho Santa Fe home? Then contact the Lucy Kelts Collection at 858-775-8843 or [email protected]. We’re standing by to answer all your questions and are eager to sit down with you personally to discuss your specific needs. Contact us today!