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What's my home worth?

AgentRobin discusses home valuation and the Competitive Mark Analysis (CMA)

Feb 30, 2013

Determining your homes value is not an exact science but more of an educated opinion. Most agents use what is called a comparative market analysis or CMA to determine what your home is approximately worth. The CMA takes into account similar homes in your area that have sold recently and estimates a value of your property based on this information. Notice that I said other homes SOLD and not currently for sell. Just becuase your neighbor is asking for a certain price doesn't mean thats the value of the home. The value becomes established when the property SELLS, this is what the final value the market is placing on the property in that moment in time and for the condition it is in.

There are many real estate focused websites that the public uses to judge what home values are.. the most prominent of these being 'Zillow' and their ZEstmate algorithm. While this attempts to automate the process of the CMA what these websites can NOT provide is evaluation of current LOCAL market conditions, comparable condition of the properties on the CMA and many other factors such as location, noise, neighborhood, schools, community involvement, community association fees, state, county and local tax levies, etc... This is where your Realtor becomes key. As a specialist in the local real estate market I am constantly examing and touring local properties for my potential buyers and sellers.

My job starts BEFORE you call me to list your home for sale or start your search for the perfect.

My preparation and experience in the local market occurs on a daily basis and helps prepare me for your call so when the time comes I can ensure you that we are absolutely IN the market so your home sells for top dollar and the shortest amount of time with teh least headache or your offer to purchase is considered as one of the strongest