Determining a Home's Fair Market Value
Are you getting ready to sell? One of the first steps is to know your home's worth or fair market value in today's market. Your home's fair market value is the dollar amount a knowledgeable buyer and seller would agree on within a reasonable amount of time (usually within 90 days).
The fair market value is only an estimate. It also takes into consideration such things as location and home conditions. Fluctuations in the market, interest, and motivation can also affect prices.
Also factored in are things such as; square footage, location, amenities, property condition, and existing financing. All included data has come from the most reliable sources: local real estate firms, title companies, and the Multiple Listing Service (MLS).
What is a Comparative Market Analysis?
A Comparative Market Analysis, or CMA, is a report used to determine fair market value. A CMA considers recent sales, pending sales, and current listings based on local market data. We can establish an appropriate listing price for your house from this information. This price may need to be adjusted as the market changes to ensure that your home remains competitively priced.
We determine the fair market value by the dollar amount a knowledgeable buyer and seller would agree on within a reasonable amount of time (usually within 90 days). The fair market value is only an estimate. It also considers location and home conditions— market fluctuations, interest, and motivation.
This CMA report includes current local listings and other recently sold (or pending sales) in your neighborhood. Although no house is precisely the same as yours, these are the most similar properties that appraisers often use to determine home values.
Please don't rely solely on a Zestimate or other computer-generated report when it comes to your home's value! Our detailed home value estimate reports are not generic guesstimates using inaccurate data from Trulia or Zillow records.
We provide the same information that lending institutions and appraisers use to determine your home's worth. In addition, we work with homeowners every day, providing Comparative Market Analysis reports to help determine the proper offer or selling price for their homes.
Your professional evaluation Includes
- Up-to-date prices and details of nearby comparable properties
- A professional estimate of your home's current value prepared by a licensed REALTOR
- The most present information and recent sales activity in the local market
- Pre-listing recommendations based on an on-site property tour (optional, no obligation)
You can use this information when talking to lenders, banks, appraisers, or Realtors so that you know the actual value of your property in today's market. Just provide a valid email and property address to get a detailed CMA built for you by hand using sophisticated software and sales data that sites like Zillow and Trulia cannot access.
Leave a Comment