Value of Your Home
How is a home's value determined?
You have several ways to determine the value of a home.
An appraisal is a professional estimate of a property's market value, based on recent sales of comparable properties, location, square footage and construction quality. This service varies in cost depending on the price of the home. To find out more about appraisal cost and process please call me at (703) 475-6673 or email at rakesh@myrebroker.com.
I will also do a comparative market analysis, which is an informal estimate of market value of your house based on similar sales and property attributes. This service is usually FREE as I hope to get your business.
What standards do appraisers use to estimate value?
Appraisers use several factors when estimating a home's value, including the home's size and square footage, the condition of the home and neighborhood, comparable local sales, any pertinent historical information, sales performance and indices that forecast future value. For detailed information on appraisal standards, contact me
What's a house worth?
A home ultimately is worth what someone will pay for it. Everything else is an estimated value. To determine a property's value, most people turn to either an appraisal or a comparative market analysis through a real estate agent.
An appraisal is a certified appraiser's estimate of the value of a home at a given point in time. Appraisers consider square footage, construction quality, design, floor plan, neighborhood and availability of transportation, shopping and schools. Appraisers also take lot size, topography, view and landscaping into account. Most appraisals cost about $300.
You can do your own cost comparison by looking up recent sales of comparable properties in public records. These records are available at local recorder or assessor offices, through private real estate information companies or on the Internet.
Email me anytime at : rakesh@myrebroker.com
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