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 changing market. We stay abreast of changes, new listings, recent transactions, overall inventory, shifts, price adjustments, and improvements to previously listed houses that could affect the perceived value of your home.

How does your home stack up to the competition?

We compare specific features such as, square footage , number of bedrooms, baths and what maintenance updates or major renovations have been done recently. We review your listing at least every 30 days, more often if there is a lot of transaction activity. Market conditions such as days on market and level of activity similar to your listing, the number of showings and whether any offers that have been made will help determine whether it’s time for an adjustment in price.

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’s 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 agent’s provide the most accurate CMA’s. A CMA is a real estate professional’s analysis of recently sold homes in an area within a six- 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.

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    Addresss: 1225 Jefferson Rd Rochester, NY 14623
    Office Phone: (585) 585-5555
    Office Email: support@rhadvisorsny.com
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