“What is My Home worth?”
It is easily one of the toughest things to try and figure out. Are you selling for what it is worth? Are you buying at the right price? You have options of looking at Zillow, RedFin, Realtor.com, but at the end of the day, how accurate are those? How can you truly know what your home is worth?
We’ve gathered and explained the two most common options to answering: What is my home worth?
Good Option: Online Computer Generated Estimates
There is nothing wrong with popping in your information and getting a computer generated estimate. They are generated from a set algorithm based on simple numbers available through Multiple Listing Service and Tax Records such as square footage, number of bedrooms, baths, garage, and so on. It will generate what your home is worth based on numbers only.
Get a computer generated estimate now:
Best Option: Comparative Marketing Analysis (CMA)
Connect with a real estate broker. “Of course a real estate company would say that,” you must be thinking. But it’s no joke. Real estate agents specialize in answering the question "what is my home worth?” Agents will prepare a Comparative Market Analysis for you, which are consistently more accurate and reliable than computer generated options.
This process involves finding similar properties that sold within the past ninety days. Once your agent finds a few recently sold homes, locations, buildings, near you the next step is to average the purchase prices and that becomes a baseline of figuring out what your home is worth.
Sounds similar to the online estimates but here is where an agent goes above and beyond. An agent will review the current competition. An agent will take into special consideration your house during a walk-through to learn more details about the home. Each house is different. Each home has a story. An agent can help read and translate that story into a price or into a great purchase for you.
More on CMAs
A CMA by a real estate professional uses more information and data than just raw numbers. A market analysis takes into account the features, quality, location, and condition of the subject property and the comparable properties. CMAs add the benefit of human intelligence, a license agent will evaluate all the factors mentioned and can make adjustments based on differences or similarities of the properties. The largest variable is the competence of individual agent doing the market analysis.
Ready to get started with the Best Option?
At Den Finder Real Estate we offer a personal consultation with one of our professional brokers. This will give us a chance to more accurately evaluate your properties true value in today’s market.