| Whether you're buying or selling a home, knowing how | | | | your property. While this will get you an accurate value |
| house values are determined is in your best interest. | | | | for your house and property, it may not be the |
| Being able to determine house values for the homes | | | | determinant for your asking price. If your house is |
| viewed will help a buyer determine an inflated price, or | | | | significantly higher in value than others in your |
| a great deal. For the seller, being able to access house | | | | neighborhood, you may have to drop your sights a little |
| values of recently sold homes and knowing how | | | | to stay in range. If other houses in the neighborhood |
| house values are determined will help set an asking | | | | are significantly better than yours, you can tack on a |
| price that will attract buyers. | | | | bit to the house's valuation to come up with an asking |
| Determining House Values with a CMA | | | | price. |
| One of the easiest ways of determining the value of | | | | Find House Values on the Internet |
| your house is through a Competitive Market Analysis. | | | | The Internet is a wonderful thing. There are a number |
| It's the way that professional Realtors and real estate | | | | of web sites online that will find the average selling |
| agents determine a good asking price for a home that | | | | price of houses in your area. A visit to will submit your |
| they're representing. You can consult a Realtor, or you | | | | information to a local Realtor who will contact you with |
| can use the same information and methods that they | | | | an estimated value for your home. |
| use to do your own CMA. | | | | Whichever method you use to find relative house |
| Visit your county's web site and check the recent | | | | values for homes in your selling area, you'll need to |
| selling prices of similar homes in your neighborhood. | | | | make some adjustments to find the best selling price |
| That will give you a ballpark idea of the general house | | | | for your home. Specifics that you should consider are |
| values in your community. From there, do a little | | | | the number of rooms, number of bedrooms, size of lot, |
| research to find out just how comparable the sold | | | | any particularly desirable traits (corner lot? end of a |
| properties are to your house. By adjusting the average | | | | dead end street?) that could be a selling point, as well |
| price up or down to account for condition, | | | | as any major improvements made to your home. If |
| improvements or other differences, you can come up | | | | the homes to which you are comparing yours offer |
| with a good price for your home. | | | | amenities that yours doesn't, you will have to deduct |
| Have Your House Value Determined By a | | | | some value. If yours has features that they don't, like a |
| Professional Appraiser | | | | recent remodel, then you can add value. |
| The most accurate way to determine the value of | | | | While it may sound like a complex process, determining |
| your house is to pay for a professional appraisal. For | | | | house values is a skill that you'll find important if you're |
| between $200 and $300 depending on your area of | | | | selling a house. It's the best way to price your house to |
| the country, you can get a professional valuation for | | | | sell. |