CMAIf you would like to receive a Comparative Market Analysis for your home to see where you home might average out - simple follow the link and provide some basic information and I will send you one within 24 hours.
Area StudiesSometimes, the market activity for the area you live can influence your market time and suggested listing price, this scope exceeds the boundaries of your neighborhood, if you would like to see an Area Market study for your area, provide me with some basic information and you will receive your personalized study within 24 hours.
What is the difference between market value and appraised value?
The appraised value of a house is a certified appraiser's opinion of the worth of a home at a given point in time. Lenders
require appraisals as part of the loan application process; fees range from $200 to $300. Market value is what price the
house will bring at a given point in time. A comparative market analysis is an informal estimate of market value, based on sales
of comparable properties, performed by a real estate agent or broker. Either an appraisal or a comparative market analysis is
the most accurate way to determine what your home is worth.
What's a house worth?
A home ultimately is worth what someone will pay for it. Everything else is an estimate of value. To determine a property's
value, most people turn to either an appraisal or a comparative market analysis. An appraisal is a certified appraiser's
estimate of the value of a home at a given point in time. Appraisers consider square footage, construction quality, design, floor
plan, neighborhood and availability of transportation, shopping and schools. Appraisers also take lot size, topography, view
and landscaping into account. Most appraisals cost about $300. A comparative market analysis is a real estate broker's
or agent's informal estimate of a home's market value, based on sales of comparable homes in a neighborhood. Most agents
will give you a comparative market analysis for free. You can do your own cost comparison by looking up recent sales
of comparable properties in public records. These records are available at local recorder or assessor offices, through private
real estate information companies or on the Internet.
How is a home's value determined?
You have several ways to determine the value of a home. An appraisal is a professional estimate of a property's
market value, based on recent sales of comparable properties, location, square footage and construction quality. This service
varies in cost depending on the price of the home. On average, an appraisal costs about $300 for a $250,000 house. A
comparative market analysis is an informal estimate of market value performed by a real estate agent based on similar sales
and property attributes. Most agents offer free analyses in the hopes of winning your business. You also can get a comparable sales report for a fee from private companies that specialize in real estate data or find
comparable sales information available on various real estate Internet sites.
What standards do appraisers use to estimate value?
Appraisers use several factors when estimating a home's value, including the home's size and square footage, the condition of the home and neighborhood, comparable local sales, any pertinent historical information, sales performance and indices that forecast future value.