How Does Our Home Valuation Work

The goal is to price each property correctly when it first comes on the market. Pricing a home isn’t a one time task, especially in a forever changing market. We stay ahead of many factors that could affect the perceived value of your home.

These factors include:

  • new listings
  • recent transactions
  • overall inventory
  • market shifts
  • price adjustments
  • improvements to previously listed homes
home valuation

How Does Your Home Stack Up To The Competition?

We compare specific features in your home such as square footage, the number of bedrooms, number of bathrooms, what maintenance updates or major renovations have been done recently, and much more.

We review your listing at least every 30 days. More often than this is possible if there is a lot of transaction activity.

Price adjustments are likely! Market conditions will dictate price adjustments such as:

  • days on the market
  • level of activity similar to your listing
  • any offers that have been made
  • the number of showings

What Factors Go Into Calculating A Home’s Value?

A lot of homeowners think online valuation tools are a definitive source to determine a home’s value. But those resources are just a starting point. It is critical to get an experienced agent to put eyeballs on the property to assess its condition first hand. Learn more here: What’s my Home Worth – Home Valuation Tools.

After viewing your property first hand, your agent can then:

1. Comps in your area: this comparison approach will give you the greatest read on a home’s true value in that market. RHA agents first look for similar property styles in an area to compare to your property.

2. A comparable market analysis, or CMA: Professional agents provide the most accurate CMA’s. A CMA is a real estate professionals analysis of recently sold homes in an area within a 6 or 12 month period. A CMA uses the most similar homes that take into account:

  • Location
  • Size
  • Bedroom and bath counts
  • Condition
  • Amenities
  • Lot

3. A professional home appraisal: an appraisal is another way to figure out your home’s true value. Contact RHA to get trusted recommendations for these services.

home value