Home Valuation, What's My Home Worth?
To help Seller's In Determining a suitable LISTNG PRICE for their home, Instead of hiring an Appraiser, Realtors can complete a Comparison Market Analysis (CMA)
It's important to understand that the CMA is a pricing evaluation done by Real Estate
Professionals in determining a suitable listing price for their clients. The CMA is
considered a RECOMMENDED PRICE ONLY. In contrast, a Real Estate APPRAISAL is a
formal pricing determination done by Appraisers.
This pricing determination done by Appraisers is considered an OPINION OF VALUE.
This Opinion Of Value is a more in depth pricing analysis. Opinion Of Values is a
requirement for home loans, court probates and refinances. A suitable listing price is based on
home's that sold, for sale and homes under contract over a specific period of time.
Also the proximity of COMPARABLES is considered in both the formal Appraisal and the CMA. your home could sell for more or less than the listing price. Neither Realtors or
Appraisers know the exact price your home will fetch. Once a home is listed for sale, the OPEN MARKET will generate PRICE DISCOVERY.
In recent years, many Sellers have been convinced that it's cheaper and easier to sell their home to one person or entity as opposed to marketing their home for sale Nationwide. Usually, the Seller is contacted randomly by telephone and by someone unknown to them. They are then told by this person they want buy their home. In truth, this person or entity is trying to reduce the COMPETITION by convincing the Seller to sell exclusively to them.
I recently sold a home that was valued at $265,000. We received many calls from individuals wanting to submit an offer prior to me listing it on the open market. After 7 days of being listed, this home sold for $305,000. We received nine offers in 7 days, why, because this home was marketed Nationwide on all the public sites. Seller received $40,000 above the most recent comparable. This $40,000 more than paid for broker commission fees.
Call Today For A No Cost Listing Consultation And Home Valuation.
Walter Seuell Realty
(678) (678) 203-5489
Member Of Georgia MLS, Fayetteville Board of Realtors And National Association Of Realtors since 2002