Are you interested in what your home is currently worth? Most homes must appraise for the buyer’s purchase price in order for the lender to approve the loan in a transaction. Appraisers typically look at the previous 6 months of sold homes to determine value. Sometimes, they must look back 1 year if there are not enough comparables that have sold in the last 6 months.
Your home value is a statistic that could be different next week compared to today. The value of your home continually changes with each new sold comparable. It is worth getting an evaluation at least each year and certainly early in the process if you are thinking of selling your home. Just as you evaluate the interior and exterior of your home for needed maintenance; it is a good idea to evaluate the real estate market and the value of your home from time to time. When it’s time to make a move you won’t be caught off guard, we will have gone over the process enough to allow you to feel better educated, so you will be ahead of the game!
Call me if you are thinking of selling your home or if you would like to better understand its current value. I’m happy to explain the process in detail and meet with you to prepare your personal CMA (Comparative Market Analysis). Just as you meet with your investment banker to review your investments, your medical doctor for your yearly physical, etc. it is a good idea to do the same for one of life’s largest investments-your home!