Wednesday, November 6, 2019 / by Kylene Emery
It has never been easier or more confusing to find out how much your house is worth! The easy part is finding information. The internet will give you piles and piles of information about your home and its value. All of this information can be confusing, contradictory, and misleading! So what can you do?
Most people think you realtors are professionals that you call when it is time to buy or sell a house, but really, they are more than that. They are people that can help you create and fulfill long-term financial and personal goals! A home is often your largest and longest investment. You should know what it is worth. You should know when it has peaked in value, and you should know when it’s maintenance costs may start to slow its growing value.
A realtor can help you evaluate all of these factors. Successful realtors build and maintain their business by offering their clients a variety of services. One of these services is providing you with a CMA, which is short for Competitive Market Analysis. A CMA helps determine your home’s value in the current market. When doing a CMA, your realtor will look at similar houses in close proximity to yours that have sold in the last 6 months, that are currently under contract, and that are newly listed for sale! It is good to have your home evaluated every year to eighteen months. Each time that you do this, it also gives you the opportunity to talk to your realtor about the current market and what housing economists are projecting for your locations housing market over the next few months or years.
Knowing your home’s value and how the housing market around you is performing, can give you a profound since of security, and it can help you plan for the future!