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What is Your Home Worth in Today's Market?

Tue, 28 Apr 2026 20:27:09 GMT

Are you wondering what your home could sell for in today's market? Here are a few tips on how to find out, and how we can help.

Are you a homeowner wondering what your property is going for in today's market or a buyer ready to put in an offer at the right price, here are some ways you can accurately assess the value of a property.

First of all, let's look at the two types of value attributed to real estate property.

Fair Market Value vs Appraised Value

The fair market value of your home is the price that a buyer and seller agree on. The best way to get this price is by asking a real estate professional (like one of us!) to do a Comparative Market Analysis on the property you're looking to sell or buy. Below, we explain a DIY version you can try to do on your own to get the gist of what this property might be going for in today's market. However, only a real estate professional can give you the most comprehensive and accurate estimated market value for a property by pulling information from the Multiple Listing Service (MLS), seeing your property firsthand, getting any info about recent updates on your property and knowing from experience what the current market is like.

The appraised value of your home is what an appraiser has determined your home is worth. An appraiser inspects the home in person and considers things like when the home was built, its location, size, number of bedrooms and bathrooms, any upgrades done to the home and recent nearby comparable home sales to come to a final value of the home, primarily for mortgage lenders and tax purposes. This number does not always have to match the final sales price of the property. The appraised value also does not necessarily reflect what your home is worth to a buyer. Individual buyers have different considerations and what one may find valuable - such as certain paint colors/wallpapers, light fixtures, flooring, etc. - others may be looking for something completely different or hoping to renovate what's already there.

If you want to try to find the value of your property in today's market here are a few things you need to consider:

1) Look at Your Property From a Potential Buyer's Perspective

Location: A potential buyer will look at the location of your home. Is it on a quiet cul-de-sac or next to a busy road or freeway? Is there major long-term construction being done nearby? Is it conveniently located close to amenities like shops, parks, hospitals, etc.? How good is the school district in that area?

Safety: Buyers will also consider the safety of an area or property. No one wants to live where their home, possessions and family can be hurt or taken. Certain safety measures such as already installed fences, cameras or a gated community with 24-hour security may be worth highlighting for buyers wary of having their home broken into.

Curb Appeal: The curb appeal of a property has big weight in boosting buyer interest because it's the first impression a buyer will get of the property. How big the lot size and home square footage of the property is also a factor for buyers wanting more space. It may not seem worth much, but having a nicely groomed yard, fresh exterior paint, and even well-maintained garden can make a home look more valuable than comparable homes in the area.

Updates: Any updated appliances, new upgrades to the home and recent renovations are also all things that buyers would be interested in. Buyers usually are willing to pay more for a move-in ready home that doesn't need lots of extra work and money put into it.

2) Understand Your Current Local Market From a Potential Buyer's Perspective

Despite what your home last sold for, what buyers would pay for your home in today's market may be more or less than what it last sold for. A lot of that depends on how strong the job market is currently in your area or the number of available homes for those looking to buy. Ultimately, you need to look at what is affecting the local real estate market.

Interest Rates: What mortgage interest rates are at currently will highly affect buyer interest because high interest rates will deter buyers from applying for a home loan.

Time: The t ime of year that you are selling is also a major factor. Most families like to move in the summertime when school is out. Oftentimes, less people move in the winter months, meaning less buyer interest at that time.

Supply and Demand: Current supply and demand is also something to look at. Are there more buyers than homes available? Then homes will most likely be going for higher and a bidding war between buyers is much more likely. If there's too many homes on the market and not that many buyers, then homes may sit on the market with no buyer interest for ages or at all -- especially if priced higher than the market value.

Do your own CMA: Lastly, think like an appraiser or real estate professional by trying to do your own Comparative Market Analysis. Do some research on homes in your area that are comparable to yours that sold within the last 6 months. Now, it's important to compare apples to apples and not oranges to apples! If the homes that sold are a different square footage, have a different number of bedrooms or bathrooms than yours or more features like an extra garage, fireplace, patio/deck then adjustments need to be made to the sold price of those properties to come to a more accurate pricing for your subject property.

For example, if the comparable property you're looking at has one more bedroom than your property you will probably have to minus $10-25,000 from the comparable property's sold price to get a more accurate pricing of what your property will sell at. Most appraisers and real estate professionals find at least 3 comparable properties, make adjustments to fit the subject property and calculate the average to come to a final value for the subject property.

3) Know that Websites like Zillow, Redfin or Realtor.com Aren't Always Accurate

For one recent Comparative Market Analysis we conducted, we also decided to check Zillow, Redfin and Realtor.com along with a few extra websites to see what they said this particular home was valued at in today's market. We found that the home value on this property given by these various home value estimator websites had a discrepancy of almost $1 million dollars!

These websites often pull inaccurate comparables using homes that were sold from a much wider radius or sold earlier than 6 months ago. These websites also don't have all the most accurate up-to-date information on a home such as any recent updates or upgrades made to the property, so basing your home's value just on one of these websites' calculations can be really far off course. However, it may be a good starting place to gage the price potential buyers are seeing for your property online.

If you are wondering what your home is going for in today's market or looking to buy soon and wondering what kind of homes you can afford in today's market, please don't hesitate to contact us. We will gladly do a Comparative Market Analysis on your property or for the property you're looking to buy and would love to chat with you about your options for selling or buying today.

12 Months of Mortgage Relief for Disaster-Stricken Homeowners

Wed, 22 Apr 2026 20:10:42 GMT

Find mortgage payment relief if a natural disaster has affected your home.

Are you a California homeowner burdened by unexpected hardship due to a natural disaster, such as last year's wildfires in Los Angeles? There's good news for you.

The CalAssist Mortgage Fund has expanded its relief efforts to provide homeowners affected by a qualified disaster a full year of mortgage payment assistance. These funds are not a loan and do not need to be repaid.

Income limits have also increased, allowing more families to qualify for this aid. In Los Angeles County specifically, households with a combined income of $281,400 can qualify for this full year of mortgage payments.

Twelve months of mortgage payments will be paid for these qualified homeowners directly to their mortgage service lenders.

Please let us know if you or anyone in your family are homeowners affected by any recent disasters in the Southern California area, and we'd love to help direct you to more information on how you can apply for this program.

Mortgage Basics: Can You Afford a Home Today?

Thu, 16 Apr 2026 19:54:40 GMT

Breaking down some mortgage basics to better understand whether you can afford a home today.

Whether you're currently a renter, a first-time home buyer or just seeing what home mortgage options are out there, here are some important points to consider when looking at whether you can afford a home today.

PITI

All mortgages are based on the acronym PITI which stands for Principal, Interest, Taxes and Insurance . Oftentimes, buyers only consider the principal when purchasing a home but forget that lenders will require interest rate payments, property taxes and a certain amount of insurance to protect their security.

Principal: This is the amount of money you owe a lender (minus the down payment) to purchase a home. For example, if you purchase a $750,000 home with a 20% down payment, your down payment will be $150,000 and the principal you subsequently owe the lender will be $600,000.

Interest: The interest rate is a percentage of the principal that the lender charges you for allowing you to borrow money for a home. The higher risk you are (AKA if you have a lower credit score) the higher your interest rate will be. A good rule of thumb is this: "Higher Risk, Higher Rate; Lower Risk, Lower Rate." The better your credit is, the lower the amount of interest you're going to be required to pay.

Taxes: Almost all real estate purchases require property taxes which may go to fund local schools, infrastructure, government jobs, etc. This tax is calculated by the assessed value of a property. Oftentimes, a lender may include these property tax payments into your overall mortgage payment.

Insurance: Property insurance is a safety net to insure the property value is protected from a tree falling on the house, flooding, earthquake damages, etc. You generally have a monthly payment and get a deductible in the event there is a disaster covered by your insurance claim. If you put less than 20% down, lenders will usually require you to pay private mortgage insurance (PMI) which doesn't go toward your principal. This PMI provides greater security for the lender in the case that you default on the loan and are no longer able to pay your mortgage payments. Some lenders, however, don't require PMI even if you put less than 20% down.

5 Types of Mortgages

Generally, there are 5 different types of mortgages buyers consider when looking for a home. Though there are other creating financing options, these 5 types of mortgages are the most popular and widely used.

1) Fixed-Rate Mortgages - Fixed rate refers to the interest rate. These loans have a locked interest rate that never changes over the lifetime of the loan. Fixed rate mortgages can be 10, 15, 20, or 30-year loans. However, the 15 and 30-year loans are the most popular.

2) ARM Mortgages - An Adjustable-Rate Mortgage (ARM) refers to a mortgage with an interest rate that is fixed for a certain time and then adjusts periodically based on the market rate. These kinds of mortgages usually benefit people who don't intend to have a mortgage for very long OR those who expect interest rates to go down in the future.

3) FHA Loan - An FHA loan is insured by the Federal Housing Administration. They give loans with down payments as low as 3.5% which is great for people with low credit scores and less than 20% down, but Private Mortgage Insurance (PMI) will be required. For those looking to buy a home for residence in California, CalHFA partners with the FHA to provide qualifying first-time homebuyers or those who haven't owned a home within the last 3 years extra FHA loan benefits such as downpayment assistance and homebuyer education and counseling.

4) VA Loan - A VA loan is insured by the Department of Veteran Affairs. Qualifying US veterans or those currently in the military can take advantage of this loan. It requires 0% down payment and no PMI. However, a VA funding fee would be required.

5) USDA Loan - A USDA loan is one backed by the Department of Agriculture. This kind of loan also requires 0% downpayment but it must be a home improvement loan or a personal residence home purchase for families within a certain income limit and geographical region (ie. usually limited to rural areas). There is also a cap to the value of the property that can be purchased.

As a disclaimer, we are not licensed mortgage brokers and cannot provide detailed loan advising. However, if you are looking to buy soon, contact us and we will gladly walk you through the process of helping you find your next home or investment property!