John Coons
Realtor®
408-985-2100
ext:229
408-203-4882
john-coons.com
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Values
By John Coons
Real estate values are somtimes hard to determine, depending the type of
property. In an area of homes that are very similar it can be fairly easy
to accurately determine the value of the property. The best way to determine
value is to have recent data on recently sold similar properties in the same
area.
CMA - MVA
To determine the value of your home call John Coons for a FREE
Competitive Market Analysys (CMA), or Market Value Analysis (MVA).
The CMA and MVA are opinions of value. These are usually written
reports prepared by real estate agents. This opinion of value is based on
similar properties that have sold recently, properties for sale and properties that did not sell.
Appraisals
Appraisals are opinion of value reports prepared by licensed professionals.
These reports are required by lenders. When a buyer applys for a loan, the lender
orders an appraisal to protect the lender (investor). If the property does not
appraise at or above the selling price, the lender will not make the loan, or the
buyer must increase the down payment.
Value Range
Just because your property appraises for a given amount does not mean that is
how much someone will be willing to pay. Values go up and down. Market
conditions change.
There are web sites that use computers to give yoiu some very rough idea of
what your home is worth. Zillow.com is one of these web sites.
CMA
MVA
Appraisal