But What's the Value of Your Home?
If you own a home you may already be keeping a weather eye on home values in your area, just like most people like to have an idea of how much their 401k and other investments are worth. I love all the great sources of information available to homeowners! But when Zillow tells you one thing, Redfin another, and your neighbor lists somewhere north or south of those figures, it gets tricky to figure out what your home is actually worth.
So what is it worth? The easy answer is "whatever someone is willing to pay for it"! But that's not terribly helpful when you want to keep an eye on the market. There are many factors to consider when determining home value. Accessibility, condition, lot size, square footage, amenities, when it was built, the market, your micro-market (neighborhood), competition, and much more. Professional appraisers use some very specific and sometimes complicated methods to determine value. But they don't put a lot of consideration into what it might sell for.
That's where a professional CMA (comparative market analysis) can be extremely helpful. Most brokers offer this service but not all CMAs are created equal. A good, accurate CMA combines the use of sophisticated tools that help the real estate agent find comparable properties, legwork to know the home and narrow down the comps, and inside knowledge of the market and your neighborhood.
If you are interested in a CMA, please fill out the form below and I will contact you within a business day!