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It’s easy to look up how much money you have in your savings account or the real-time value of your stock investments. But determining the dollar value of a home is more challenging.
If you’ve been curious about the real value of your home, you may have plugged your address into an online estimator. While these tools can be a good starting point, don’t count on their computer algorithms to be entirely accurate. Has the online estimator factored in the private backyard that backs up to a greenbelt? Does it know that you recently replaced the roof and remodeled the kitchen?
The good news is, you don’t have to rely on a computer algorithm or your own best guess. A trained real estate agent — who understands the nuances of your particular neighborhood — can determine the true market value of your property …
What is True Market Value?
True market value is the amount that a buyer is willing to pay for a property. A qualified real estate agent is an expert at determining true market value because they have hands-on experience with buying and selling homes in your area. They understand the mindsets of buyers in your market and know what they’ll pay for a desirable property.
As a seller, knowing your home’s value enables you to price it correctly for a quick sale while maximizing your profits. For buyers, it’s important to determine a property’s worth so you can write a competitive offer without overpaying.
How Does An Agent Determine True Market Value?
Your real estate agent will start by doing a comparative market analysis (CMA). This means they’ll compare your home’s features to current listings and recently sold properties in your area. For the CMA, the agent looks at a number of factors, including:
A computer algorithm simply can’t take all of these factors into account when calculating the value of your home. The reality is, the accuracy of a real estate agent or professional appraiser surpasses other valuation sources when it comes to determining a home’s true market value.
Get a Complimentary Report With Your Home’s True Market Value
Bellwether Real Estate
(360) 441-2202
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