One of the questions I get asked most often is “How much is my home worth now?”
Since the market correction in Portland, home prices can be hard to gauge without an in depth Comparative Market Analysis (CMA) provided by a real estate broker. With the larger number of short sales and foreclosures on the market it can be difficult to price your home based only on what you are seeing sell in your neighborhood. A broker can look at homes in your area with similar features that have sold, are currently pending, and on the market right now. We take that information and interpret it to create a ball park figure for your home. It is important to understand that a CMA is not an appraisal but a price that a reasonable buyer would pay to purchase your home.
Knowing the equity in your home can help with many things including:
Since the market correction in Portland, home prices can be hard to gauge without an in depth Comparative Market Analysis (CMA) provided by a real estate broker. With the larger number of short sales and foreclosures on the market it can be difficult to price your home based only on what you are seeing sell in your neighborhood. A broker can look at homes in your area with similar features that have sold, are currently pending, and on the market right now. We take that information and interpret it to create a ball park figure for your home. It is important to understand that a CMA is not an appraisal but a price that a reasonable buyer would pay to purchase your home.
Knowing the equity in your home can help with many things including:
- Ensuring your home is adequately insured.
- Planning your estate realistically for your heirs.
- Using the equity for college, renovating and updating the home, ect.
- Selling your current home and purchasing a larger one.
