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RE/MAX Alliance Colorado Real Estate

What is My Home Worth

 

The worth (or value) of a home is determined by what other similar homes have sold for in the current market.   This worth translates into an asking price when you want to sell your home.  Price, along with condition and marketing exposure, are the three most important factors in selling your home. Price is especially important as it determines what your net profit will be from a sale. 

 

Your asking price is based on two items: an appraisal and a comparative market analysis. These are the two primary tools used to determine your homes worth.  A certified appraiser performs the appraisal - an estimate of the value required by the buyers lender for securing the mortgage. If you had an appraisal done on your home in the last year, that is important information to share.
 
As your real estate agent, Cindy will provide you with a detailed comparative market analysis. This information is an estimate based on comparative homes that have sold in your neighborhood. It should be based on homes of comparative size within 2 miles of your property and should be no older than 6 months.
 
These two sources need to be kept in mind when determining your asking price. You want to be careful not to start too high as you could lose a potential buyer. Also, the market is always changing and fluctuating, so be sure that your asking price is based on the most recent appraisal and comparative market analysis. Cindy will help you price your house so that it will be attractive to buyers yet gain you the best selling price possible.
 


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