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Factors For Home Investors Pricing

Factors For Home Investors Pricing
Video Transcription

Neal Johnson: Hey, this is Neal with Now Property Investments. I am making this video today for homeowners that have already checked off the list; no, I don’t want to sell my home with a realtor because it takes too long or, no, I don’t want to sell my home for sale by owner because it’s too much work and I don’t have time for it, or even if you inherited the home and your just like, “Man, I just want to get rid of it” or whatever it might be. So, you’ve looked at going down the route of selling it with a home buyer or a home investor. This video is going to help you understand what home investors are looking for when they come into your house and how their price might go up or down depending on what they see in your house. So, let’s jump right into it.

  1. You have to have a clear understanding of what repairs are needed in your home and what updates are needed in your home. All that entails is you walking through your house. You walk through your house and look at your ceilings, floors, roof, AC, structure of your house as a whole, and even some of the appliances. If you haven’t updated anything in the last five to six years, more than likely your home is out of date. An easy way for you to understand what the different repair costs might be, is going to Google and looking up how much does flooring cost or how much would painting a house that has a certain square feet cost? Usually that will give you a good estimate of what your cost would be.
  2. Location, location, location. Just because you have lived in this house for 10 years and five years ago it was worth $200,000, now that it’s 2020, it doesn’t mean that your house has appreciated. Sometimes homes actually depreciate with who’s moving in or who’s moving out. For example, if your neighborhood has a high-rate of crime, that could lead to depreciation of your home. Also, if there’s a lot of people moving out of your neighborhood, that could also depreciate your home so that’s a good thing to look at. You can go on Google and look up crime rating in your neighborhood and see how that’s affecting your house.
  3. Understanding what the appraised value of your home is right now. So there’s a lot of different real estate buying websites that will say, “Oh, your house is the appraised as this much or that much,” but I would suggest you just go into your County Appraisal website, which whatever county that might be. I’m in Dallas County, so I would go to http://www.dallascad.org/, and type in my address and it will give me the estimated appraisal value of my house right now. That’s a good way to understand if the number that the home investor is giving you is a fair number or not.

Okay, let’s recap real quick, the three tips that I gave you were, having a clear understanding of what repairs or updates that are needed to your house, understanding how location affects the pricing of your home, and also understanding the appraised value of your home. If you are in the market to sell your home to a home buyer, you can go to our website, www.nowpropertyinvest.com. At NPI we buy homes for cash, as is, while working on your time frame. Give us a call TODAY (214) 744-3491!

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