What's My Home Worth?
In general, your home is worth what a qualified buyer will pay for it. That number is determined using the "Market Approach", which is based on the premise that a prudent person will pay no more for a property than it would cost to purchase a comparable substitute.
To form an opinion of value, we analyze current listing and sales prices of simliar homes in your area, considering properties that have recently sold, are currently for sale or were offered for sale, but did not sell. Although no property is identical to yours, those that have a high degree of similarity are mentioned in this report.
Comparative Market Analysis (CMA)
To summarize the process the CMA illustrates the sold history of similar homes, those that failed to sell and properties currently on the market. By comparing these numbers, the value or range of value for your home becomes relatively clear. The final projected sales price should be determined after careful consideration on these current market conditions.