As a real estate investor and Realtor in the Orlando /Central Florida area I often get asked, “How much is my house worth?” My answer is…”It depends on who you ask.” If you ask me as a real estate investor who buys houses for cash, then I’ll figure what the house is worth by using a formula such as: 70% x ARV (After Repaired Value of recently sold comparable properties)- COR (Cost Of Repairs) – MP (My Profit) = WIW (What It’s Worth). Whew!! That sounds scary, huh?! To keep it simple, just keep in mind that if I do buy your house, I don’t plan on living in it. I would be buying it for an investment property and therefore, I do expect to make a profit! So, I have to buy at a discount under what the current comparable houses are selling for in order for it to make sense. However, the major benefits to you are you pay no real estate commissions or closing costs except your taxes or liens that you may owe, you get a quick close, and it’s CASH! Everybody loves cash right?
However, if you ask me as a listing agent/Realtor then I will search the comparable homes that have sold recently. In this declining real estate market, I usually limit my search to 1/2 mile radius from the subject property (the house you want to sell), and only go back a maximum of 3-6 months. My goal is to compare apples to apples. If I can’t find exact matches, which is typically the case, I will make adjustments. After I find out what similar homes have recently sold for, I can then recommend a listing price for your home. Using some simple math, I can then give you an idea of what you will walk away with in your pocket after all is said and done.
So in conclusion, if you are wondering…”How Much Is My House Worth?” and you are in the Orlando /Central Florida areas, then you owe it to yourself to give us a call (407) 442-9120 or Fill Out the “Sell Your House Fast Form” on this page and find out what your house is currently worth in today’s real estate market.