Your Home's Value

Your Home's Value Today:
   One of the most important tasks in marketing your home for sale is pricing.
If you really want to do things properly, you should contact an appraiser (currently licensed in Virginia, one who knows your area). There is a nominal fee for the service ($300, $350, etc.) and it varies, depending on the size of property and the scope of the appraisal.
    The appraiser will be able to properly determine the square footage of the improvement (the house, itself) and to properly value the land. He or she will know the appropriate comparables to use in basing a valuation.
    Selecting comparables requires research and knowledge. The process involves bracketing by square footage, with a range of home sizes which are equal to yours, less than your home size, and slightly more than your home size.
    Comparables should come from the most recently sold properties, generally within the last six months.
    Adjustments are made to the comparable properties, as it relates to your home (the subject property). These adjustments which determine your valuation may include such factors as site, location, view, design and appeal,
chronological age, effective age, quality of construction, the various interior features and fixtures, and more.
   Please note: If you select a REALTOR®, one who is not licensed as an appraiser, you will generally get a CMA (comparative market analysis). The CMA will be, in some cases, less reliable. Obviously, the appraiser has more training and expertise as it relates to valuations.
   Finally, the valuation you receive (if it is "market value") is a value that is timely. It is the value as of today.
Tomorrow's external factors and market conditions may bring another value.