What’s my house worth?

Fair market value, simply speaking, is
what a buyer is willing to pay for
a property; in other words, “what the
market will bear.” This is, in essence, what
a property is worth.

There are many factors that go into
establishing the fair market value of a
home, and two weighty ones are the
home’s square footage and number of
bedrooms/bathrooms. The home’s age,
condition and location are also important
factors, and the school district can greatly
affect value for home buyers with children.

Supply and demand is also a
consideration. The fewer comparable
listings there are on the market in your
area, the more valuable your home,
especially if it has hard-to-find amenities
or is located in a very desirable
neighborhood. Conversely, if there are lots
of comparable homes on the market, it can
lower the value of your home, particularly
when there is a scarcity of buyers.

An easy way to determine the value of your
home is to request a comparative market
analysis (CMA), which tells you how much
your house is worth compared to other
homes sold in the area in the past year. I
will be happy to personally complete this
analysis for you upon request.