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WHAT IS YOUR HOME WORTH?
Good Question
The price of a piece of real estate is simply whatever someone is willing to pay for it. So, estimating a home's value comes down to what have other people recently paid for something similar. There is a method and it's like an appraisal. We call it determining Fair Market Value.
Fair Market Value
Basic home comparison
Each home is different, however, when determining the Fair Market Value, we want to look at what other comparable houses have recently sold for in your area. The biggest factors we look at is the age, number of bedrooms and baths, basements and garages, square footage and condition.
adjustments
Once we have some comparable properties to look at, we then consider making adjustments for their various differences, like family rooms, offices, fireplaces, updated kitchens and/or baths, central air, fireplaces, renovations, improvements and location, etc.
Comparative Market Analysis (CMA)
All of this information is compiled into an easy-to-read report called a Comparative Market Analysis (CMA). With all of this information, we can tell the approximate value of the home, which helps us determine a potential sale price and an appropriate asking price. I can provide this for you at no cost . . just ask.