HOME VALUATION
What's Your Property Worth?
Home valuations give you valuable knowledge that can help you plan for the future and make smart decisions. It's good practice to stay informed about how much equity you have in your home and how much you may be able to borrow against it or sell it for.
Our tool provides a more robust, accurate assessment than you'll get from the major real estate portals. For the most precise valuation, reach out to discuss a customized Comparative Market Analysis or an appraisal.
WHAT IS A HOME VALUATION?
A home valuation determines the current market value of a residential property. It is crucial for real estate transactions, preventing excessive borrowing and financial losses. When getting a mortgage, the home acts as collateral. A thorough home valuation safeguards the lender's ability to recover costs if the mortgage is not fully repaid.
HOW IS THE VALUATION OF MY HOME CALCULATED?
The value of your home is calculated using a combination of factors including its location, age, size, condition, any improvements or renovations made, and recent sale prices of comparable homes in the neighborhood. It also factors in current market trends and local market conditions.
HOW ACCURATE IS THE ONLINE HOME VALUATION?
Online home valuations provide a good starting point and offer a general estimate of your property's worth. However, they may not factor in recent renovations, unique features, or subjective market perception. For the most accurate assessment, consider scheduling an in-person appraisal.
EXPERT GUIDANCE
Sell Your Home Fast in Lake County
Wondering how to sell your house fast in Libertyville, IL? The Leslie McDonnell Team specializes in quick, efficient sales, helping you get the best price in the shortest time. With deep knowledge of Libertyville and Lake County markets, we make selling stress-free and rewarding.
View Selling TimelineYOUR PARTNER
Work With Lake County's Most Trusted Team
Finding the best real estate partner starts with understanding your needs. With decades of experience, The Leslie McDonnell Team offers expert guidance tailored to your unique situation, ensuring your home-selling journey is seamless and successful.
We provide comprehensive market analysis, strategic pricing recommendations, and professional marketing to ensure your home reaches the right buyers at the right price.
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PREPARATION
Steps to Prepare Your Home for Sale
Preparing to sell? Our comprehensive guide covers everything from staging to minor repairs, helping your property stand out and attract the right buyers.
From decluttering and deep cleaning to strategic upgrades, we'll show you exactly what buyers in Lake County are looking for in today's market.
Learn MoreHow Is a Valuation Performed?
MARKET ANALYSIS
Comparative Market Analysis
A Comparative Market Analysis (CMA) is a tool used by real estate agents to value a home. It evaluates similar homes that have recently sold in the same area. Agents find comparable sales and use them to conduct a sales comparison. In most cases, an agent will find three homes that have recently sold and are as similar to and located as close to the home being valued as possible.
APPRAISALS
Based on a Professional's Opinion
An appraisal is an unbiased valuation of a home based on a professional's opinion. They are usually what mortgage companies use for home purchases and refinances. An appraiser does a complete visual inspection of the interior and exterior of the home as well as taking into consideration recent sales of similar properties and market trends.
Why Is a Valuation Important?
REFINANCING
Lenders base the amount of their loans on the value of your property and usually allow you to borrow a maximum of 75% to 96.5% against your property. Knowing what your home is worth allows lenders to calculate your equity in the home. The more equity you have, the better terms you will receive on your refinance.
HOME IMPROVEMENTS
If you're doing home improvement projects to increase the resale value, you want to make sure you're not pricing it out of the market. When you get a valuation, you can see how your home compares with others in the neighborhood and let this guide your home improvement decisions.
QUALIFYING FOR CREDIT
If you want to borrow cash against your home, getting a Home Equity Line of Credit (HELOC) could be a good option. To qualify, you must have a certain level of equity in your home. Most lenders require at least 20%. Getting a home valuation will help you determine if you qualify.
PLANNING
Simply knowing the value of your home is good information to have. It will help you plan for the future and deal with unforeseen circumstances when you might be in a position that requires extra money or a quick relocation. Knowing how much equity you have will help you respond to any financial curveballs.
Meet The Leslie McDonnell Team
Experience matters. Whether it's marketing your home or guiding you through complex negotiations, The Leslie McDonnell Team is here to provide unparalleled service in Lake County real estate.
With a proven track record of success, we help homeowners achieve top prices while minimizing time on the market. Your success is our priority.
"Leslie McDonnell and her team provide a first-class experience for all of her customers. When my clients move to Chicago, I always ensure they're in Leslie's area because I know they'll be well-represented."
— Brenda Wade
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