Fill in the form below and we will give you a No Obligation analysis of what your home might be worth according to accurate local market data. Of course, this will be a rough estimate, as we would need to see the actual property to give the most accurate Market Analysis.
A home is worth what a well informed buyer who is not under any undue influence is willing to pay at any given time. The market – driven by buyers – is the only true indicator of actual value.
Valuing property is in a way part art and part science – and no two appraisers will agree on value but they should be within a few percent of each other. No two parcels are the same, no two homes are the same and each transaction has its own set of circumstances. Owners maintain their homes in different ways, general conditions, improvements, and upgrades will vary from home to home and all this must be considered whether an appraisal is being done by an appraiser or an agent is doing a detailed comp study. No matter who is doing the valuation, being willing and able to get spot on comps is of paramount importance and is an area where agents usually drop the ball the most, but I have seen appraisers make the same mistakes – and on two memorable occasions had to defend my seller against $30K appraisal mistakes to save their equity. Fortunately errors of that magnitude are not too common, but when it did my clients were glad they hired an expert instead of an agent!.
Fortunately there are standard guidelines used in the industry and buyers, sellers, and owners would benefit from understanding this material – even though it wont make you qualified to challenge an appraiser, you will understand the process. For the most part, these are guidelines followed by knowledgeable real estate professionals when handling transactions and performing appraisals.
Click here for some insights into appraisals and home valuation and see a few myths debunked.
Questions? We’re here to help – let us know what you need. Call or fill out the form.