Tuesday, July 24, 2012

How Do We Find Out The Potential Value Of Our Home? - Realtor.com

questions

Q: I was wondering what kinds of information you could offer, or if there is a place to get at least three opinions on the value of our home. We live in Gas City, Indiana. We are thinking of moving to Mississippi. We have a 2 story 3 br 2 bath, shed and 2 car garage. It sits on 2 lots in town.
?Becky, Marion, IN

A: Dear Indiana Seller,

I recommend getting a professional appraisal from an appraiser. It will provide you with the ultimate determination of value and it will cost around $300. You can also use the appraisal as a marketing tool by sharing it with potential buyers to show that your home is priced correctly.

Additionally, at no cost, you can interview 2 or 3 Realtors and request they prepare a CMA (comparative market analysis) for you. A CMA is a Realtor?s determination of the value your house based on the current market conditions.

I hope this is helpful,

DeniseTheRealtor CA DRE Lic No 01481788
Denise Shur is a Realtor? with 1:1 Realty in San Jose, CA.

A: My advice would be to ask 2 local Real Estate Agents for a CMA (Comparative Market Analysis) and Market Saturation Data ? theoretically their answers should be close. The third opinion should be from an Appraiser. I reccommend an FHA Appraisal because it will hold the value of your home over the next six months. The first 2 should come at no charge, the third will cost somewhere between $300-500. Typically, if you use the same company that was used when you bought the house, you can get a discount. Clearly, I cannot promise they will offer a discount, but some do (so ask). Good luck! El

El Brant Wilmington, NC
El Brant is a Realtor? with Wilkinson & Associates Real Estate in Wilmington, NC.

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Related posts:

  1. Ten Things Every Appraisal Should Include
  2. I Am Thinking Of Selling My Home, Where Do I Start?
  3. Is The Appraisal Value Often Very Different From The Sale Price?
  4. How Does Lake Access Figure In The Value Of A Home?
  5. How Is Selling Price Determined?

Source: http://www.realtor.com/blogs/2012/07/23/how-do-we-find-out-the-potential-value-of-our-home/

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