Wednesday, October 8, 2014

Finding the Value of Your Home...

    Unfortunately, many people find the value of their homes in all of the wrong places. Some use the County Auditor/Assessor, some use popular real estate websites and some actually base the homes value on what they owe!! All of these methods are inaccurate and should not be used to determine what your home is worth.
    The County Auditor/Assessor value is only used for tax purposes. When has anyone had a County Appraiser come into your home every 3 years to appraise it? Never. So they have no idea how nice or how much work your home needs to give a real value. The popular real estate websites cannot accurately give a value because there is no algorithm that can know the area and how the homes or the street differ from maybe even the next street over or even the next few blocks down. A true assessment of value absolutely requires human input and analysis.
    Of course the best way is to have your home appraised by a licensed/certified appraiser. The next best thing and inexpensive way is to have a real estate agent do a CMA, Comparative Market Analysis of your home. This CMA will compare similar homes that have recently Sold, are currently Active and listings that have expired in your area . This comparison is a general comparison unlike the specific feature adjustments made by an appraiser. This method allows you to understand what the Typical Buyer has recently been willing to pay for similar homes to yours and what they probably would pay for yours as well.
    So when you are ready to find out what your home will sell for, check out this link and I will be sure to reach out and give you a good personal analysis of your home!!

No comments:

Post a Comment