It is very difficult to price your home CORRECTLY. With all due respect to realtors, they are not appraisers, and they will tell you that -or they should tell you that! A CMA done by an agent is not an appraisal. It is simply a computer generated, statistical averaging of home sales and listings in your area. It biggest flaw is that it does not have accurate physical data on your home or any of the comparables sales. All the data is pulled from the county tax records which is usually incorrect! Appraisers do not use public records data for physical property information.

What is an appraisal?

An appraisal is a detailed analysis of the estimated current market value of your home. It takes into consideration prior sales, current listings and current market trends. It involves a thorough interior and exterior inspection of the property (not to be confused with a home inspection). We measure each home by hand and calculate the exact square footage of your home. We then use three approaches to estimate the value of your home; the cost approach, income approach and the sales comparison approach. We carefully consider each approach and reconcile them to arrive at a final estimate of market value.

Why do I need my home Appraised?

Most sellers do not think of having their home appraised at the time they list it for sale. They feel that the appraisal is something paid for by the buyer and is to be done by the lender once the contract is signed. The fact of the matter is that since most sellers pay for the buyers closing costs – it is the SELLER who is paying for the appraisal. Why not get the advantage of an appraisal NOW!

An appraiser is an unbiased third party, someone who has no interest in the resulting value of your home. You, of course, are biased and want you home to sell for as much as possible; a buyer is biased and wants the value to be lower and the agents involved may lean one way or another depending on the circumstances. There are some agents who will tell you they will list your house for that big number, even higher than you might think it’s worth, just to get the listing. Then there are other agents who will low-ball the value to get it to sell quickly. So who should you trust? Hire an unbiased appraiser.