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How do I determine my own home value?

  • March 01 2010 - Lake Havasu City
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Answers (4)

You can determine your price by getting a Comparative Market Analysis. There are two parts to this research. Part one, what homeowners list their homes for. And  part two  what realtors list and sell homes for.

The purpose of the CMA is to determine the value of your home in the eyes of the buyer versus how the country determines value.

Buyers determine value by comparison shopping. They look at the price of your home based on its features and benefits, and compare it with the features and benefits of similar homes that have sold recently or are currently on the market. 

For instance, if you were going to purchase a new car, and one dealership had a car for 20k and another dealership had the same car for 20k but it had a great stereo system and beautiful rims? Which car would be more valuable?   Of Course! The First one with more Features!

Now, what if the first dealership put the car with NO stereo system and rims on sale for 15k, which would be a better value then? 

So you can see that if you want to increase value you can either lower the price or add more features and benefits for the same price, does that make sense?

So, unless you are planning to add more features and benefits to your home, price is the only issue in today economy. For more information visit my website at [content removed by moderator]
  • March 07 2010
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Profile picture for Rhollow100
Aside from paying for an appraisal ($350 - $500), any "good" Realtor will provide you with a free CMA analysis (Comparative Market Analysis) that will give you a fair idea as to the value based on comps in your area.
  • March 06 2010
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Profile picture for rockinblu
jbc1cowan

If you think you can do as good a job as a RE professional who will most likely work up a CMA free for you, refer to the link below.
It shows recently sold homes in Lake Havasu City. Find homes in the list that compare evenly to yours. Things such as view, (yeah, been there and loved it, particularly the off-roading), square footage, bedrooms, baths, and lot size. 

http://www.zillow.com/hom ... -City-AZ/

I'm posting two other links as well. The first is on choosing an agent and the second is on doing a FSBO. Both have info in them on arriving at a house's value to get an idea on a listing price, but the first is a little more detailed.

http://www.trulia.com/blo ... gers_cros

http://www.trulia.com/blo ... ing_a_f_1

Now after all of this, I'm going to look real stupid if you were just wanting a zestimate. If that's the case, refer to the link below.

http://www.zillow.com/adv ... e/324233/
  • March 01 2010
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Dear JBC:

Hi, if you wish most Realtors will do this for free.

However, you can get an idea by going to the County Assessor's site and select homes that have sold near you and determine what they sold for. Then look for differences in those homes from your home (examples: square footage, construction, lot size, garage, remodel characteristics etc.). Make an estimate for each feature. Also factor in proximity to major streets and location (river view or not).

Even with a professional appraiser, this is an art, the value is often finallly determined in the eye of the beholder.

Good luck.

Regards, Jeff

Jeff Masich, Realtor
Arizona Homes and Land
HomeSmart Realty
  • March 01 2010
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