How do I find out how much my home is worth?
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A Comparative Market Analysis (CMA) and an Appraisal are the standard methods for determining a home’s value. Your real estate agent will be able to provide a CMA. It is an informal estimate of market value based on comparable properties in the neighborhood using listing price of homes currently on the market as well as those that have sold.
An appraisal, which generally costs $200 to $300 to perform, is a certified appraiser’s opinion of the value of a home at any given time. Appraisers review numerous factors including recent comparable sales, location, square footage and construction quality. Lenders require appraisals as part of the loan application process; fees range from $200 to $300. Either an appraisal or a Comparative Market Analysis is the most accurate way to determine what your home is worth.
If you are thinking of selling your home, we can help you establish your home’s current market value with a FREE CMA prepared by one of our licensed agents. To begin the process, please fill out this form.