MARKET ANALYSIS

Comparative Market Analysis

A Comparative Market Analysis (CMA) is our secret weapon for pricing your home. It involves scoping out similar homes that have recently sold in your area to gauge your property’s value. We select a few homes that closely match yours in location and features, then dive into the details. By comparing and adjusting for differences, we refine their sale prices to estimate what your home would be worth if it were sold today.  It’s all about getting a sharp, accurate snapshot of your home’s value!

APPRAISALS

Based on a Professional’s Opinion

An appraisal gives you an unbiased, expert take on your home's value. Typically used by mortgage companies for home purchases and refinances, this process involves a pro who does a thorough inspection of both the inside and outside of your property. They also review recent sales of similar homes and current market trends. The appraiser provides a detailed report that includes an exterior building sketch, a street map with comparable sales, photos, and an explanation of how the square footage was determined, along with any other key details. It’s all about getting a precise, professional valuation! Appraisals are not free. Depending on the reason for ordering an appraisal, will determine who covers the cost. 

Preparing to Sell

Thinking about selling your home? One of the first steps you should take is getting a home valuation. This crucial step helps you pinpoint a realistic sales price and set the stage for a successful sale. By understanding your home’s current market value, you can make informed decisions and approach the selling process with confidence. It’s all about starting strong and setting yourself up for the best possible outcome.

REFINANCING

When it comes to refinancing, the amount you can borrow is tied to your home’s value. Lenders usually allow you to access between 75% and 96.5% of your property’s value. Understanding your home’s worth helps lenders assess your equity—the portion of the home you actually own. The more equity you have, the better the refinance terms you can secure. It’s all about knowing your value to maximize your refinancing potential!

HOME IMPROVEMENTS

If you’re doing home improvement projects to increase the resale value, you want to make sure you’re not pricing it out of the market. If your home is already priced on the high-end for your neighborhood, making too many improvements could make it more difficult to sell. When you get a valuation, you can see how your home compares with others in the neighborhood and let this guide your home improvement decisions.

QUALIFYING FOR CREDIT

Thinking about tapping into your home’s value with a Home Equity Line of Credit (HELOC)? It’s a great option if you need some extra cash, but you’ll need to have a certain amount of equity to qualify—typically at least 20%. Getting a home valuation will help you figure out if you meet this requirement and provide the lender with the information they need to make a decision on your loan. It’s all about knowing your equity to unlock the funds you need!

PLANNING AHEAD

While it’s not an absolute must, having a clear understanding of your home’s value is incredibly useful. It helps you plan for the future and handle unexpected situations, whether you need extra funds or a quick move. Knowing your home’s equity and its potential sale or borrowing value can be a lifesaver when life throws those financial curveballs. It’s all about staying prepared and having the information you need to make smart moves.