Calculating the “worth” of a property in black-and-white terms is sometimes a delicate computations, as estimating what the seller believes his home is worth and what a buyer will pay does not always match up. That’s where looking at market value, and performing a comparative market analysis(CMA), come in.
Market value is determined by considering each property’s characteristics, including size, layout, age, condition of the building, etc. Services in the neighborhood, location and views can also influence a property’s market value. A CMA, conducted by your realtor, will look at market value alongside prices of similar properties in the area that sold within a certain time period, or are currently for sale.
All real estate is local, so to get an idea of what your particular property is worth, or to check out prices for properties in areas you may be thinking of moving to, please call me. I’d be pleased to research the specific neighborhoods’ you’re interested in, and provide up-to-date real estate information to help you determine your own buying and selling plans.