Home Values in Dallas: Latest Tips and Trends

How to get a home value estimate

There are several free tools available to help you calculate what your Dallas home is worth, whether you are attempting to set an accurate list price or estimate your net proceeds. We’ll explore some options below.

Use an online home value estimator

One of the simplest ways to get a general ballpark figure for your home is by using an online home value estimator like HomeLight’s. These tools typically pull data from a mix of various sources, including county auditor and tax assessor records, user-submitted details, and MLS listings. HomeLight’s estimator stands out by asking seven simple questions about your home to refine the estimate further. This method provides a preliminary value in less than two minutes, acting as a helpful starting point for your home-selling journey.

Request a comparative market analysis

While online estimators are a good starting point, requesting a comparative market analysis (CMA) from a local real estate agent can provide a more accurate valuation. A CMA compares your home to similar properties sold in your area, taking into account details like the number of bedrooms and bathrooms, square footage, home age, location, recent upgrades, and other relevant factors.

To get a CMA, reach out to a local real estate agent who will assess your home and compile a detailed report. These reports generally include charts, graphs, photos, and other data to give you a more complete picture of your home’s worth. Many agents will provide a CMA for free if you plan to list your home with them.

Get a pre-listing appraisal

In addition to a comparative market analysis, obtaining a pre-listing appraisal might be beneficial in certain situations to get a more precise home valuation. This is especially true if your home is in a rural area and lacks nearby comparable sales, has unique features, or sits on a large plot of land. In these cases, a professional appraisal can help you set an accurate list price that reflects your property’s true value.

In general, a home appraisal costs between $450 to $550, though more complex properties, like a custom-built home or a large farm, may incur higher fees. Keep in mind that even if you get a pre-listing appraisal, the buyer’s lender will still require an appraisal to determine the loan amount they’re willing to provide.

How to increase the value of your Dallas home

If you’re hoping to maximize the value of your Dallas home before putting it on the market, focus your time and efforts on specific improvements and strategic updates to boost its appeal and sale price.

Curb appeal: First impressions matter, and curb appeal is one of the first things potential buyers notice. According to the National Association of Realtors, 92% of realtors suggest enhancing curb appeal before listing a home for sale. Simple yet impactful projects like mowing the lawn, adding fresh mulch, power washing the exterior, planting flowers, and painting the front door can make your home more inviting, setting a positive tone for buyers’ viewing experience.

Strategic updates: If you’re going to spend time and money on upgrades, prioritizing value-adding home improvements is key. Focus on high-impact areas like the kitchen and bathrooms, where updates can yield substantial returns. Consider refinishing hardwood floors, installing modern fixtures, and applying a fresh coat of paint to create a clean look. According to Zonda’s 2023 Cost vs. Value Report, certain upgrades, like replacing the garage door, can recoup an impressive 103% of the costs. These targeted updates not only improve the aesthetic appeal of your home but also increase its overall market value.

Necessary fixes: Before listing your home, address any urgent repairs to ensure that everything is in good working order. Start by assessing the condition of major systems like the roof, foundation, plumbing, electrical, and HVAC. Tackling issues in these areas can prevent costly surprises during the home inspection process, which could derail a sale. For example, problems with your roof may be a significant red flag for buyers. Fixing these issues can translate into a smoother selling process and potentially higher offers.

Decluttering and depersonalizing: It’s suggested that you create a clean slate to help potential buyers envision themselves living in your home. Start by decluttering and depersonalizing each room by removing excess furniture, knick-knacks, and personal items such as family photos, religious symbols, and memorabilia. A recent HomeLight survey of top agents found that decluttering can increase a home’s sale price by $8,000 or more, making this an important step not to skip in the selling process.

Deep cleaning: A deep-cleaned home is more likely to attract offers, as buyers are often more forgiving of outdated decor and minor flaws when a home is spotless. Invest the time and effort in a thorough polishing, including steam-cleaning carpets, washing windows, and scrubbing grout. Pay special attention to areas that might be overlooked, like vents, ceiling fans, and baseboards, which can harbor pesky dust. According to a HomeLight survey of over 1,000 top agents, deep cleaning can increase a home’s value by up to $3,700.

Home staging: Finally, home staging can play a pivotal role in showing off your home’s best features. Staging allows you to create a welcoming atmosphere that resonates with buyers, ultimately leading to a more successful sale. Staged homes not only tend to sell faster, but also command higher prices; according to HomeLight’s most recent Top Agent Insights Report, a professionally staged home can sell for up to 13% more than an unstaged one. Additionally, 31% of agents consider staging to be “essential for a sale.”

Unlock Your Equity and Buy Before You Sell

Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency.

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How to buy before you sell in Dallas

If you are exploring home values in Dallas because you found your next dream home, HomeLight’s Buy Before You Sell (BBYS) program could be exactly what you need.

BBYS allows you to tap into a portion of your current home’s equity so that you to make a strong, non-contingent offer on a new property. If your home qualifies, you can unlock your equity in as little as 24 hours without any upfront fees. This setup enables you buy your new home first, move in, and then sell your old home while it’s vacant, simplifying the selling process and avoiding the stress of multiple moves.

HomeLight’s BBYS charges a flat fee of 2.4% of your current home’s sale price. If your home doesn’t sell within 90 days after closing on your new property, HomeLight will purchase it and continue working to sell it. Any profits earned from the sale, after deducting all HomeLight costs, will be passed on to you.

See the video below to learn more about HomeLight’s Buy Before You Sell program:

How to find a top agent in Dallas

Finding the right real estate agent with a strong track record in your local area can maximize your Dallas home’s selling price. HomeLight’s agent matching service is free, connecting you with three top candidates based on their specialties, past performance, and local expertise in under two minutes. The service is also completely unbiased, as agents don’t pay to be featured.

When choosing an agent, make sure to evaluate their sale-to-list ratio. This ratio compares the final sale price of a home to its original listing price, expressed as a percentage. A high sale-to-list ratio indicates that the agent consistently prices their listings accurately and negotiates well, ultimately securing top dollar for their clients.

It’s recommended to interview at least three real estate agents before settling on one. To get a sense of their prior experience and success, be sure to ask questions like:

By leveraging HomeLight’s agent match tool and some fundamental interview questions, you’ll be able to find a local real estate pro who can help you achieve the best possible outcome when selling your home.

Get a free preliminary home estimate today

Understanding local home values in Dallas will help you make informed decisions about your largest financial asset, whether you’re planning to sell soon or simply considering a home equity loan. Using HomeLight’s free home value estimator, you can get a quick and accurate approximation of your home’s worth in less than two minutes.

HomeLight can also connect you with top Dallas agents who can ensure that your home sells for its best possible price, or can assist you in unlocking your equity to buy a new home before selling. By staying up to date with market trends and taking advantage of the tools presented above, you’ll be more than prepared to maximize your Dallas home’s value when it comes time to sell.

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