Profile picture for budford

I have a home to sell and want to know what its worth.

any advice?
  • November 23 2011 - Burt
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Answers (5)

Profile picture for sunnyview
Paying for an appraisal can be helpful, but an appraisal is not a sale. You also need to be clear with the appraiser that the purpose for the appraisal is to determine the market price and not for a refi, ego bump or estate planning purposes.

CMA's can be helpful, but they are only as good and honest as the agent who does them. You can ask several agents for their opinion to get an idea. It is important to look at ALL the comps used and ask each agent for different valuations on different timetables for a 30 day, 60 day and an average time of your local market sale.
  • November 26 2011
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Profile picture for SoCal Engr
Two ways to get an estimated value for a house without selling it...

#1  Pay for an appraisal.
  Upside - Still an estimated value, but carries more weight than a CMA.
  Downside - Costs money

#2  Get a CMA from a REA
  Upside - Should not cost anything, and could be as good as an appraisal - if the REA does a thorough job.
  Downside - Could be skewed by REA expertise or market bias. After all, you get what you pay for, right REAs? (Sorry, the last bit typed itself).

If you go with option #2, get multiple CMAs, preferrably from different brokers. This will allow you to compare the estimates and supporting data.
  • November 25 2011
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Find a local realtor and have them work up a CMA Comparative Market Analysis which will provide what has recently sold in your area. Real estate is local. Good luck.
  • November 25 2011
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If you are in the Metro Tri-County area I could do a CMA for you. Feel free to contact me if you are interested. 
  • November 25 2011
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I would suggest finding a realtor that works in your area and get a Comparative Market Analysis from him.  That should tell you what your home is worth and what other similar homes sold for in your area recently.
  • November 23 2011
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