Want to know where to start looking?
Whether you’re just curious or are eager to find a competitive listing price, using the best resources to find your property’s value is crucial.
I’m going to be talking about two types of home evaluation tools: neighborhood sold reports and comparative market analyses, all of which address “What’s My Home Worth”?
What’s My Home Worth When Compared To My Neighbors Home?
A comparative market analysis includes a detailed list of homes that have recently sold in your area. They include information about the square footage, number of bedrooms and bathrooms, address, neighborhood, and, of course, the sold price.
Since sales prices are determined in part by your home’s location, as well as a neighborhood’s housing supply and demand, honing in on your own neighborhood real estate market is the best way to determine what the housing market is doing and how it can affect your listing price.
How much did your neighbor receive for his 4-bedroom, 3-bathroom house down the street? Is your listing price thousands of dollars more?
If your home is priced too high, you’ll know immediately by looking at the comparisons in the neighborhood sold report. It’s better to learn sooner rather than later, when your home is on the market and you’re feeling frustrated by the lack of home buyer interest. The same goes with pricing your home too low.
Your Home’s Value in Today’s Market
A comparative market analysis, often called a CMA, is a fantastic tool to help you determine your home’s value. This report will include anything relevant about the current real estate market in your area, such as:
- recent neighborhood home sales
- withdrawn home listing prices
- unique property features
- days on the market
- price changes
- seller concessions to purchaser
The important distinction between neighborhood sold reports and comparative market analyses is that the CMAs are more detailed, and can take into account any home improvements or unique property features that buyers would be more interested in (and therefore, would pay more for).
The bottom line: CMAs help you find that sweet, sweet selling price that’s fair to you but still attracts potential home buyers.
Don’t Settle for Internet Based Estimates
If you’re serious about selling your home, the market value of your property is what you’re after. Don’t settle for estimates based solely on your address or outdated information.
You’ll want to do considerable research on the current state of your local real estate market to help you determine the best listing price for your home. If you need help along the way, my expertise is a call away at 703-499-9279
Sell Your Property With My Real Estate Expertise
I provide a comparative market analysis, working with you to determine the best price for your property. And if you’re eager to get the results you’re looking for in your home sale, list your property with my highly experienced team.
The Kruschkas are long-term Prince William County residents with more than 30 years experience as real estate professionals serving Woodbridge, Manassas, Dumfries, Manassas Park, Bristow, Brentsville, Gainesville and Haymarket
Our Experience Isn’t Expensive – It’s PRICELESS
If you plan to buy or sell a home or property contact Karen and Art by Email or call us at 703-499-9279. Put our record of customer service, real estate experience and state-of-the-art technology to work for you