Residential Real Estate Appraisal, Mortgage Financing, Insurance - Sterling, VA

House Appraisal in Sterling, VA

The following strategies will help you figure out how much your home is worth:

1. Abandon your personal point of view. Buyers don’t care how much you paid for the home, how many memorable moments you and your family shared in the home, how much cash you need for the downpayment on your next home or how much time and money you’ve invested in your home’s hardwood floors, fresh paint, lush landscaping or other improvements.

2. Ask for a Comparative Market Analysis (CMA), which shows the prices of comparable recently sold homes, on-the-market homes and homes that were on the market, but weren’t sold. The on-the-market homes are the “competition” for your home. Ask about the reasons for each home to be included in the CMA and whether any other comparable homes were eliminated from the CMA. Price recommendations based on CMAs are just recommendations not gospel.
 
3. Do your own market research. Go to open houses in your neighborhood and try to make an impartial assessment of how those homes compare to yours in terms of location, size, amenities and condition. Assuming all the asking prices were the same, would you buy your home or someone else’s?

4. Calculate the price per square foot. The average price per square foot for homes in your neighborhood shouldn’t be the sole determinant of the asking price for your home, but it can be a useful starting point. 

5. Consider market conditions. Are home prices in your area trending upwards or downwards? Are homes selling quickly or languishing? Will your home be on the market in the spring home-buying season or the dead of winter? Are interest rates attractive? Is the economy
hot or cold? Will you be selling in a buyer’s market or a seller’s market? Is the local job market strong or are employees fearful of staff reductions?

6. Sweeten the transaction terms. The more creative and flexible you can be in meeting the buyer’s needs, the more success you’ll have in pricing your home to sell.

As you can see, setting the list price for your home involves evaluating various market conditions and financial factors. Professional appraisers at Appraisal Master will use the right methods to set an accurate price for your home. We can provide you with up-to-date real estate appraisals when you buy or sell a home.

Contact us for more information about House Appraisal in Sterling, VA.