One of the best first steps in determining a home’s worth is a comparative market analysis (CMA), which is done by a licensed real estate agent. This process gives a much more accurate picture of the home’s current market value than the prices provided by popular home-valuation websites. (According to Inman, an industry-leading real estate source, websites like Zillow and Redfin can be off by up to 40%.)
To complete the CMA, the agent typically walks through the home and gathers information from the homeowner about the property so he or she can research comparable properties in the area. The CMA often includes active listings (currently on the market), pending listings (under contract) and sold (closed in the past year). By examining listings that are similar to the property, the agent can provide an approximate price at which the homeowner can expect to sell the ome. If you’re curious about how much your home is worth, I’d be happy to complete a personalized CMA for you. Just give me a call!