What’s Your Home’s Market Value

Before a home owner lists their home on the market, they want to know the true value of it. There are sites online you can use to try and get the right value, but determining the value can prove to be a tedious task. You can find yourself wondering which amount is correct and feeling the anxiety that can come with it. If only life was as easy as clicking a button, all would be great in the world. Another thing to remember, you’re too close to your home for an honest evaluation.

So Many Realtors – Which One Is Right for You?
You may have heard the thing to do is interview multiple realtors before deciding which the best to go with is. Do they have all the latest electronic gadgets? Sure they do. Do they have a “wow you” marketing plan? Of course they do. But what you have to ask yourself, is what good does it do to have a hundred buyers walking through if your home isn’t priced at fair market value?

When an agent is interviewed, don’t focus on what they show you as much as what they tell you. You want an agent that speaks with solid knowledge of the local market and has common sense. For the best results it’s critical to pay close attention to what’s said.

CMA – Comparative Market Analysis
Regardless of what realtor or how they deliver a selling price, a comparative market analysis is prepared for you. This is a good thing; it’s a report using previous, fairly recent and present market conditions of properties in your area to determine your home’s value.

What does the agent really know?
Agents should be using a comparison to similar homes in your area to your home; however, some agents may use comparisons of homes that are not similar enough or at all. Ask questions and make sure the right homes are being used.

A good CMA includes recently sold similar homes in your area – meaning within the last three months and never over one year. It will also include any pending and active listings, and any expired properties taken off the market because home owners removed them or the listing expired.

Basics to Remember

A CMA is a starting point to assess and come to a fair market value. There are basics that will play into finding what your home is worth.

  • counts on the number of bedrooms and bathrooms
  • the square footage
  • the year your home was built
  • its overall condition
  • condition and size of the lot
  • location
  • amenities and local attractions
  • neighborhood

As mentioned earlier, the thing a home owner needs to realize is, you’re bias from the start. You’re in love with your home and of course it’s worth the highest dollar amount out there. It’s not easy to be objective and objection is required for the number value to be on point. Working with a licensed real estate agent will give you the accurate results you’re looking for and need.

To get started on your home’s magic number and determine what your home is worth, call me today at (810) 626-5600. I have solid knowledge of the local market and I’m ready to prepare your accurate Comparative Market Analysis.

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