How Do Determine A Homes Value I Estimate A Homes Value Like A Pro

Want to know how to accurately estimate your home’s value like a pro? Whether you’re selling your house, investing in real estate, or just curious about the market, this step-by-step guide will break down the exact methods the experts use to determine a home's value. In this video, we’ll cover key factors such as market trends, comparable sales, property condition, and how to avoid common pricing mistakes. Maximize your property’s potential by learning how to properly estimate its true value!

Heres the step by step breakdown:

✅ Step 1: Define the Subject Property
Before you pull comps, lock in the details of the house you’re analyzing:

Property type (SFR, condo, townhome)

Beds / baths

Square footage

Lot size

Year built

Garage, pool, views, upgrades

Location (zip, neighborhood, school district)

📌 Goal: You want comps that match these specs as closely as possible after the property is fixed up.

✅ Step 2: Set Your Comps Criteria
Use your comp tool (Zillow, Redfin, Propstream, Privy, MLS, etc.) and filter by:

Distance: 0.25–0.5 miles max (same neighborhood if possible)

Sold Date: Within last 3–6 months (the more recent, the better)

Beds/Baths: Match exactly or within +/– 1

SqFt: Within +/– 15% of subject property

Lot Size: Within +/– 20%

Style: Keep it apples to apples — no comparing a ranch to a two-story

Condition: Focus only on fully renovated comps if you’re estimating ARV

📌 Pro Tip: Use satellite view or Google Street View to see curb appeal differences.

✅ Step 3: Find the Right Comps
Pull at least 3–5 fully renovated sales that:

Are within your filters

Look like something you’d create post-reno

Closed with traditional buyers (no foreclosure/auction/investor quick sales)

📌 Red Flag: Don’t use active or pending listings as true comps — they're not verified data points. Use closed sales.

✅ Step 4: Adjust for Key Differences
If a comp is close but has some differences, adjust accordingly:

+/- $25–50/sqft for square footage variances

+/- $5–15k for garage vs carport or no garage

+/- $15–30k for pools, views, or extra bathrooms

+/- $10–20k for location differences (cul-de-sac vs busy street)

📌 Use judgment — these are estimates, not exact numbers. Look for patterns in what buyers paid for similar features.

✅ Step 5: Estimate Your ARV
Once you’ve adjusted the comps, look at the price point it falls into

✅ Step 6: Double-Check with Local Agents
If you're unsure, or it’s a tight deal — send your top 2–3 comps to a local agent and ask:

“Assuming this house is fully renovated, what would it list for and what would it likely sell for?”

📌 This step is crucial in shifting markets where comp data lags behind actual buyer demand.

✅ Bonus Tools to Speed Things Up:
Privy – Filters flips, comps, and ARVs automatically

Propstream – Pulls solds, liens, ownership data

Zillow – Quick visual for photos and time-on-market

Redfin – Easier filtering and price history

MLS – Gold standard if you have access

Book a call with me, access my free resources here : https://beacons.ai/loansbyjb/


📞📱 Email me at Jbrown@nuhometeam.com

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