• Location within the neighborhood-corner lot? Cul-de- sac? Adjoining a busy street? Backing to open space? • Age of property • Size • Condition Condition, of course, is one of the most crucial factors in valuation. Upgrades or improvements to a residential property often can enhance its value-or may detract, like very expensive ugly wallpaper, purple plaid carpet and pink countertops which could have cost the seller big bugs, but that most buyers would want to replace. Ideally, professional appraisers are licensed, disinterested professional, with expertise and experience in your area. His or her job is to determine an estimated value by inspecting the property, reviewing the initial purchase price, and weighing it against similar recent sold properties in the same area. Appraisals usually cost from $600-$800, and is a multi-;age document containing measurements, photos, and mathematical computations which support the appraised value. Appraisals on Condos appraisals can be more.
COMPARATIVE MARKE TIVE MARKET ANALYSIS BY A REAL ESTATE PROFESSIONAL
A CMA, as it is called in the industry, is a type of home valuation that is usually complimentary from real estate professionals and is more reliable than automated online offerings, which are computer generated from tax records. A good professional CMA provides detailed information on several similar homes that have sold in your area over the last six months or less. It should also include the specifics of all the houses for sale in your area, including the asking price. These homes are your competition. The real estate professional should explain how and why the
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