Home Valuation
How to determine your home’s value
Typically your home is worth what a qualified buyer will pay for it. To determine that number, the "Market Approach" to value is used. This approach is based
on the premise a prudent person will pay no more for a property than it would cost to purchase a comparable substitute.
To form an opinion of value, we analyze current listing and sales prices of simliar homes in your area. We consider properties that have recently sold, are currently for sale or were offered for sale, but did not sell. Although none of these properties are identical to yours, only those that have a high degree of similarity are noted in this report.
CMA - Comparative Market Analysis
To summarize the process the CMA illustrates the sold history of similar homes, those that failed to sell and properties currently on the market. By comparing these numbers, the value or range of value for your home becomes relatively clear. The final projected sales price should be determined after careful consideration on these current market conditions.
This site brought to you by Kristal Kraft, a licensed Colorado Real Estate Broker