How much is my home worth?
Many homeowners want to know what the current market value is for their home. The market is always changing and many owners simply do not keep up with the market after closing on their house until it is time to move to the next one. The reason to keep up with your home’s value is that it is an investment and the largest one most people will ever make. If you invest 100k, 200k, 300k, or more in a business or the stock market, would you want to know how that investment was doing?
I would like to know.
The real estate market is one that consistently sees growth in a majority of areas all across the United States. I am located in Clarksville, TN where the market continues to grow year after year. It is an amazing thing to witness and is great for homeowners in the community. Every year they are building more equity in their home simply by owning it another year.
Let’s take a look at an example: let’s use my house.
My house was originally built and sold for the first time in 2005 for $174,900. Then in 2009 only 4 years later it sold for $204,950. The home and property increased by $35,000 in just 4 years. When I purchased the house in 2018 my offer of $229,900 was accepted and I was super excited about it. Now just two years later I would recommend a client to list it at $255,000.
In other words, the first owner sees a 17% increase in value over a 4 year period. Then the second owner saw an increase of 12% in 9 years. Now if the market continues to be a seller’s market with the high demand and low supply we are experiencing in Clarksville, TN- if I sold my home this year, I would see an increase of 10% in only two years.
The Clarksville area continues to be in high demand for homes, if you plan to sell a home in the area be ready for multiple showings and offers on the first day if the property is priced appropriately. If you plan to move here be ready to make an offer when you see something you love because it will not last forever; however, don’t rush to buy any home just be patient and you will find the right home for you.
Please contact me with any questions on what your home may be worth or just to talk about the current market. I am always interested in properties that could be going on the market soon.
Thank you for reading and I look forward to speaking with you soon.