How To Price Your House home price value

The main strategy a real estate professional will find the home price value for your house, based on the fact that it is a residential, single-family property (other strategies work for other property types) is by creating a comparative market analysis (CMA).  This is a tool used to estimate real estate home values by comparing it to similar properties that have recently sold in the same area.

• It helps sellers determine a competitive listing price and assists buyers in making informed offers.
• A CMA evaluates various factors such as the size, location and features of the property in relation to comparable properties that have sold recently-the more recent the better.
• It is important to note that a CMA in not the same as an appraisal, which is conducted by a licensed appraiser.  If you are using a mortgage to purchase a house, your lender will order an appraisal for the property.

Overall, a CMA is essential for both buyers and sellers to navigate the real estate market effectively.