A home is ultimately worth whatever someone is willing to pay for it, right? Well,
Listing a home for $899,900 doesn’t actually make it WORTH that amount! To
determine a property's value, most people turn to either a formal real estate appraisal
or the more informal comparative market analysis. An appraisal is a Certified Appraiser's
estimate of the value of a home at a given point in time. Appraisers take into consideration
other recent home sales in the neighborhood, square footage, construction quality,
design, floor plan, amenities, neighborhood and availability of transportation, shopping
and schools. They also consider lot size, topography, view and landscaping. Most
appraisals cost about $400, and if your buyers are financing the purchase of your
home, the lender will require that an appraisal be done to determine how much your
buyers will be able to borrow.
A more informal approach is the Comparative Market
Analysis (CMA) which is a real estate broker or agent's opinion of a home's market
value, based on the same basic information that an appraiser uses. BUT...it doesn’t
cost a thing...and there’s no obligation whatsoever!
Click on the “Request a Value
Estimate” link below or here to get started.