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:
- Bedroom and bath counts
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.