There is a buyer for every home. With that being said there is a price someone is willing to spend on your Tulsa home. Now the question is what tool will let you know that price?
Tulsa Home Selling and Buying Tools
It’s not uncommon for Tulsa home buyers and seller to use house listing websites like Zillow, Redfin, and Realtor.com to shop for their future home. You can find properties just by adjusting your search criteria to meet your exact needs. The most popular tool in our opinion is Zillow. Zillow will provide an estimate of a home’s value as well as a rent estimate. The problem is knowing if Zillow’s Zestimate is right. Seller’s don’t have time to mess with inaccurate estimates because all they are thinking is, “I need to sell my house fast in Tulsa, Oklahoma.“
Zillow for Tulsa?
The truth is Zillow is sometimes off on its estimates. Your neighbor may have got foreclosed on and their house sold for $40,000 under what it should have. That is going to make your Zestimate drop substantially. If your neighbor’s house sells at a very high price, then all the neighborhood home values will go up in Zillow. I have watched my Zillow house estimate over the years and have to say it is usually close, but it can never be a trusted figure for what you think your house is worth.
Zillow is probably more accurate on rental value but as far as Tulsa home values it has been known to be off as high as 20%. Zillow values are no doubt computer generated by an algorithm. Do real people get involved in the Zillow Zestimate? I’m sure they have staff that make certain corrections in the algorithm, but it’s not easy to manage the entire United States real estate market, let alone Tulsa, Broken Arrow, Jenks, Bixby, Catoosa, Owasso, Collinsville, Glenpool, Sand Springs, Coweta, Sapulpa..etc.
Zillow Estimates for Tulsa FSBO
Zillow’s estimates are only estimates. That means they are not precise and should be looked at as just a quick reference when shopping or selling your Tulsa home. Imagine if you sold your house at a Zestimate of $100,000, only to find out your house could have sold for $20k more! If only you had done your homework and dug into the recently sold listings to see what houses are selling at. That actually is the best thing you can do on Zillow, Redfin, or Realtor.com. Look at recently sold houses in your area and see which ones are most like yours. Figure the average selling price and then go from there. Ask a real estate professional if that price you came up with seems legit.
I have sold several of my homes by owner and found that this method gets me close to where me as the seller wants to be and where the buyer wants to be.
Don’t forget that most buyer will offer at least $5k under asking price, so consider starting a little higher on your listing price, BUT not so high that it scares someone off. For example, if I want to sell a house for $120k, then I would list it at $125k. There are many different strategies so consult a real estate professional to see what they think works best for your area.
The bottom-line is don’t go by the Zillow estimate as the final price. It’s just as good reference. Zillow has no idea if you’ve laid hardwood floors or replaced the AC. You may have added $50k in improvements to you Tulsa house and Zillow will never know till you sell it and the algorithm see’s what it sold for. Another thing to consider is Zillow doesn’t know if a house has been poorly taken care of. What if there is paint peeling and wood rot? The flooring can be full of pet urine. All that could drop the value of a home $20k in the eyes of a home buyer.
Cold and Hot Areas in Tulsa
There is one more major thing Zillow doesn’t always get right. That is popular areas of town. There are up and coming neighborhoods where home values are skyrocketing in Tulsa. Then there are areas that are slowly diminishing in value. Zillow has a hard time keeping up with this. So know what pockets of real estate are hot, and know if your house is in that or close to it then you may be able to ask for more money when you sell your Tulsa home!
Ask a Real Estate Pro
If you don’t want to mess with looking up any of this data, and are not in a hurry to sell, then call you local Tulsa real estate agent and have them pull some comps in your area. They will look at houses sold within a recent time span. They will be able to tell you what the average price per sq ft they sold at. If the market conditions are good you can sell for top dollar if you have a good product in a good area. If the market is down you may want to hold off, but that’s the thing about real estate is you never know how it going to be in the future. Remember 2008 when the market crashed almost instantly it seemed. In recent time from 2017 – 2019 the market has been on fire. This won’t last forever. It is a good time to sell for high dollar, that’s for sure!
Just Want to Sell Fast?
At the end of the day you should try and get top dollar for your house, but we understand there are situations that make that difficult. Such as foreclosure, divorce, inherited homes, job loss..etc. If you’re in a difficult situation or just tired of messing with a difficult house, please reach out to us. We buy houses AS-IS Tulsa. You pay no fees! We take care of the entire process and get you back to doing the things you’d rather be doing instead of figuring out how to sell the house the way it is.
WE BUY HOUSES TULSA OKLAHOMA
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This website does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact an attorney directly.