WHAT IS MY PROPERTY WORTH?
The market determines the value, not the agent. Completing a competitive market analysis (CMA) will enable you and your agent to price the property according to the market. When trying to determine property value for your home, we compare your home with old listings and active listings on the MLS.
No two properties are completely alike, but some properties are similar enough to compare prices. We look at comparable homes that have recently sold (sold listings), homes that were for sale, but never successfully sold (expired listings), and homes that are currently for sale (active listings). Aside from these comparisons, we also take other factors into consideration when determining a home’s value.
- One of the most important factors that affect value is location. Homes that are closer to the mountain or ski area sell at a higher price. You can install all of the Brazilian cherry flooring and stainless appliances you want, but you cannot change the location of a home!
- Another major factor is what improvements the owners have made to the house. Updating kitchens, replacing flooring, repainting walls, and adding landscaping can add to the value of a home. However, sometimes homeowners can spend too much on a house and not get all of their money back when it comes time to sell the house. Before making drastic improvements to your house, be sure to talk with your real estate agent so that you use your money wisely on your investment.
- If a seller needs to sell the house quickly, he or she may be willing to take a slightly lower asking price for the house. For this reason we talk with our clients to find out why they are selling their home and by what date they need to move.