This process begins with the examination of the history of SOLDS, PENDINGS and ACTIVE properties that compete with your home.
Characteristics of these properties are examined and then compared to your property. Comparable factors that are focused on include: style, location, lot size, indoor living area, number of bedrooms, number of bathrooms, condition and age of the property. Additional factors that have an affect on a property’s value are market trends such as; available mortgage interest rates, financing options, competing listings, utility costs, real estate taxes and supply and demand.
After researching and analyzing this information, a “Fair Market Value” of your property can be concluded. Fair Market Value is defined as: an estimate of the market value of a property, based on what a knowledgeable, willing, and unpressured buyer would probably pay to a knowledgeable, willing, and unpressured seller in the real estate market.