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Market value, is what a willing buyer will pay for a house. Market value is determined by analyzing comparable real estate inventory on the market and comparable properties that have recently sold. This comparable analysis will help determine a reasonable selling price for your property.
A Comparitive Market Analysis is different than an appraisal. An appraisal only examines recently sold homes. In addition, appraisals don't consider many homes that are real competition to your property, but can only compare your home with properties that match appraisal guidelines. The appraisal is a tool of the lender that merely justifies that the property really is worth the amount you are paying for it. Appraised value and market value can be very different.
To get a free CMA market analysis from a qualified Cornerstone Real Estate Professional, complete the form below:
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