Home Selling in 95014>Question Details

Gailsea727, Both Buyer and Seller in Cupertino, CA

what is my home worth?

Asked by Gailsea727, Cupertino, CA Wed Aug 24, 2011

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16
All joking aside, your home has a good lot size. Did you guys do a lot of work or expand it it since you bought? The value was definitely in the land since the house was only 1250sqft.

If we look in your immediate area, the average sales price is about $1.2mm, but the homes that have sold have been considerably bigger, averaging 2,200sqft on similar lot sizes.

To get you the best indication of value we have to expand the search to the other side of Stelling, where you'll find two sales:


Address City Beds Bath DOM LOE SqFt $/SqFt Lot(SqFt) List Price Age Sale Price

SOLD
10450 Ann Arbor Av Cupertino 3 1|0 38 32 1,053 $925.93 9,125 $998,000 60 $975,000
10494 N Stelling Rd Cupertino 3 2|0 9 22 1,522 $542.05 9,375 $825,000 60 $825,000

AVERAGE VALUES 24 27 1,288 $733.99 9,250 $911,500 60 $900,000


So based on these two sales, if your home is in "average" condition, it'll sell around $900K... which is unfortunately $100K less than what you paid for it.

This of course is a very, very rough guesstimate, I would need to see what kind of shape your home is in, to be more precise, but the upper limit of the estimate is more than likely about $1mm.

I would be happy to swing by for a couple of minutes, take a look, and prepare an actual comparative market analysis for you

You can contact me through my Trulia profile or through my website.

Best Regards,
Igor
Web Reference: http://www.rezrealty.com
2 votes Thank Flag Link Wed Aug 24, 2011
I am always happy to provide you with a no-obligation market analysis of your home's value. Just Call 408-252-8900. I have several pre-approved buyers looking to buy in Cupertino-is your home available to buy?
0 votes Thank Flag Link Fri Dec 28, 2012
Your home is worth a lot more this year than last year. Did you sell last year when you originally asked this question? Homes value can change quickly because it is based on supply vs. demand. The supply has drastically gone down, thus the market has swung greatly in the favor of sellers this year.
0 votes Thank Flag Link Sun Jul 15, 2012
Hi Gail,

Best way to determine your home's value is to get together with a competent Realtor. Who in turn would:

1. Run a comparative market analysis of your home compared to the homes sold in your neighborhood.
2. Will adjust the value based upon the condition of the home, any improvements you might have made

The biggest determinent of you home value is the $ buyers are willing to pay. When you are ready to sell your home and want top dollar for your home, you have to focus on the features that will bring in the most $. It could be the large lot size (a huge draw in CU).

You have received some very good suggestions below, I would recommend to interview a couple of Realtors and go from there.

Regards,

Monica Goyal
Coldwell Banker
DRE 01781926
0 votes Thank Flag Link Wed Aug 24, 2011
Generally speaking, you should never base your value estimate on what Zillow, or any other automated website tells you, even as a "first-step" or preliminary estimate. I have seen Zillow estimates off by over $200K on a home that sold for $500K, that is simply an unacceptable margin of error.

What they do is a very rough estimate, and since there are a great number of variables they can't possibly take into account (such as school boundaries, the true condition of the home in relation to the similar homes in the area, floorplan, etc) Zillow is almost always wrong in it's estimate.

In this case, they're saying your home is worth $914K, which is within the range of possibility of my previous estimate.

You won't know what your home is worth until you have an professional take a look and do a real comparative market analysis.
Web Reference: http://www.rezrealty.com
0 votes Thank Flag Link Wed Aug 24, 2011
Hello Gail and thanks for your question.

Okay, for a "quick and easy" method of determining your home's value without working with an agent or outside service, you can do one of the following:

1. Type in your address at the top of the Trulia page. Trulia will provide you with metrics regarding the current sales in the area, and the homes that are currently listed that meet the same square footage or areas as your home.

2. You can type in your address at http://www.zillow.com. Zillow provides homeowners with a "zestimate" or value of the home based on recent sales in the area, and the size of your home. Zillow allows you, as the owner, to update the condition of your home and to input improvements to "fine-tune" the value. Zillow does admit that their estimates can be vary as much as 10 percent from the sales price in the area.

One step up from the quick search on Trulia and Zillow would be to contact a Realtor to obtain a comparable market analysis and estimate of the value of your home. Realtors can do a "quick" comparable market analysis, which provides very raw data about the home's value, or can do a comprehensive market analysis, which often requires the agent to view the interior of the home to determine condition relative to other homes for sale, pending or recently sold. Since Cupertino's house pricing can be stratified based on school district and areas, unlike the websites, the knowledgeable Realtor will consider the school district and micro-area as part of the value determination.

Finally, if you want the most comprehensive form of home valuation, you can hire an appraiser who will provide you with a value for your property based on measurements, condition and evaluation of the market. Appraisers can be easily found in the phone book or speak with your agent to obtain the name of a good appraiser in your area.

Good luck!!

Sincerely,
Grace Morioka, SRES
DRE 01521941
Area Pro Realty-People's Choice
Tel (408) 426-1616
0 votes Thank Flag Link Wed Aug 24, 2011
Hi Gail,

Supply and demand is the simple answer to your question. Keep in mind if you take the time to prepare your home properly with consultation from a Realtor that understands where to spend money for the maximum return on your investment, than your home will sell for more than the comparable homes in the area.

Please call us if you would like a consultation from our team!

Janelle

BOYENGA TEAM
Top 1% Intero Real Estate
Silicon Valley Specialists
Office: 408.342.3188
JANELLE: 408.373.1660
ERIC: 408.506.3942
Fax: 408.516.5820
Email: homes@boyenga.com
Website: http://www.boyenga.com
Website: http://www.MLStools.com
"Guaranteed Results through Teamwork"
0 votes Thank Flag Link Wed Aug 24, 2011
It depends on why you ask. Are you going to remodel, refinance, sell? Do you want to rent it out? Transfer to a family member?

Any number of us here on Trulia would be happy to visit your home and give you a no obligation market opinion of what your home may sell for in today's market.

If you need to refinance, get a loan modification, or pull out money, you can always hire and pay an independent third party, a California Licensed Residential Real Estate Appraiser.

All the best to you.
Web Reference: http://www.terrivellios.com
0 votes Thank Flag Link Wed Aug 24, 2011
Hi Gail,

A skilled real estate professional can provide you with a highly accurate range of value, based largely on "comps" (recent sales of roughly comparable properties in your immediate vicinity).

The better the availability of such comps, the more accurate the range of value will be. Otherwise stated, the more closely your property resembles recently sold properties in the immediate area, the more accurate the valuation will be.

To give you a specific valuation or range of valuation, of course, one would need to know the property address. To be highly accurate, one would also need to assess the interior condition.

Sincerely,
Dan

Daniel Berman
Pacific Century Realty
Listing Commissions as Low as 1%
Buyer Rebates to 50%
Multilingual Services
0 votes Thank Flag Link Wed Aug 24, 2011
Simple - your home is worth what a rational buyer is willing to pay for it. If there is more than one buyer for your home (based on its desirability), then they simply need to out-bid eachother to purchase it. I have several techniques for increasing your home's desirability so that we generate multiple offers for your property, thereby getting the highest amount of money for you. If you'd like to hear about my proven plan, I'd suggest we strategize about your goals.
-Bart
0 votes Thank Flag Link Wed Aug 24, 2011
Your home's market value is based on several factors. Mainly your market value will be based on what other comparable homes have sold for in your immediate neighborhood. CLOSED SALES not for sale or pending prices. If you would like me to provide you a complimentary report, please email me your address through my Trulia profile. Kind regards.
0 votes Thank Flag Link Wed Aug 24, 2011
There are two separate numbers:

Your home's MARKET VALUE is determined by a Reator doing a CMA,
or
Your home's WORTH is determined by what a Buyer will pay for it.

I do not belive in the $3,000,000 figure; do you?
0 votes Thank Flag Link Wed Aug 24, 2011
Click on the link below and enter your address to find out.

http://gregwang.com/home-valuations

Good luck!
Web Reference: http://www.gregwang.com
0 votes Thank Flag Link Wed Aug 24, 2011
This is a great question. Your homes current market value is based on it's location, age, condition, lot size, gross living area. No professional Realtor will be able to give you a solid answer on the value of your home without this information. Additionally, the current real estate market has three different markets within itself. There is the bank owned home market, the short sale market and the equity sale market. Therefore, the market price for your home will be different based on its financial condition as well. I would be happy to help you further regarding the price of your home if you would like to supply me the the information needed. There is no obligation to you in any way. You can contact me directly at stephen.theard@cbnorcal.com. My personal website address is http://www.HeartsanHomes.com

Thank you for taking the time to read my response to your question.

Stephen Theard
Realtor
Coldwell Banker
DRE# 01700019
0 votes Thank Flag Link Wed Aug 24, 2011
Hi,

To answer this question we would need to know your address, which is something that probably doesn't make sense to post on Trulia. Perhaps, you can choose a couple of Realtors who regularly post to this site and ask them directly to prepare a market analysis for you.

All the best,
April
April Tavares, GRI, ASP
Realtor®, DRE License #01742179
Montalvo Realty
Direct: 408-309-5471
Email: April@AprilTavares.com
Web Reference: http://www.AprilTavares.com
0 votes Thank Flag Link Wed Aug 24, 2011
What is the address? I cannot help you with out the address.
0 votes Thank Flag Link Wed Aug 24, 2011
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