YOUR PROPERTY VALUE
There are many sources available to estimate your property value. Some use electronic formulas, others are generalized such as tax assessments; and still others involve personalized evaluations. If you are considering marketing your property, we recommend the latter source using a detailed analysis.
- Electronic valuations take basic property information and match it with sales ratios and instantly provide property values. This method, however, is not based upon actual viewing of the property and so a spotless well-kept home is valued the same as one that is in need of repairs. And the value is based upon mathematical ratios, not actual similar sales.
- Tax assessment data is based upon property information viewed and collected by the municipal tax authority. The information is used to levy taxes in a fair and equitable manner. Assessor valuations, however, do not look at the actual condition but rather rate the quality of construction and assume average condition/repair. So a homeowner of a spotless and well-kept property is taxed/assessed the same as a property in need of work. That is the principle of tax equalization.
- Personalized valuations can be done either by a a Realtor preparing a MARKET ANALYSIS or by an Appraiser preparing an APPRAISAL REPORT. In both cases, the property is personally inspected/viewed and the resultant value is based not only on property details but on condition and appearance. Both valuations consider market trends and actual recent sales of similar properties. In our opinion, there is no better way to determine an accurate estimate of your property value.
MARKET ANALYSIS
Our office can prepare a written detailed report of your property within a few days and at no cost or obligation. We will personally review all your property details with you and review all the sales in the MLS data bank to identify the property listing and sales most comparable to your property. Our reports are compressive but easy to understand and include high quality photography.
APPRAISAL REPORTS
In some cases, a more exact or qualified opinion of value is required. As an example, value may be needed for estate purposes, legal settlements, tax reporting, or court use. These instances usually require an appraisal report prepared by a LICENSED or CERTIFIED APPRAISER. We can refer you to appropriate local appraisal firms or appraisers. Pleas note that appraisals involve fees which can vary based upon the inteded use and reporting requirements. All appraisal reports are completed to recognized national standards.