MARKET ANALYSIS
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Two Accurate Ways to Perform Home Valuations
MARKET ANALYSIS
A Comparative Market Analysis (CMA) is a tool used by real estate agents to value a home. It evaluates similar homes that have recently sold in the same area. Agents find comparable sales and use them to conduct a sales comparison. In most cases, an agent will find three homes that have recently sold and are as similar to and located as close to the home being valued as possible. Each one is then analyzed to pinpoint differences between it and the home being valued. Once these differences are priced out, the price of each comp is adjusted to see what it would cost if it was identical to the home being valued were it to be sold in the current market.
APPRAISALS
An appraisal is an unbiased valuation of a home based on a professional’s opinion. They are usually what mortgage companies use for home purchases and refinances. A lender usually orders a home appraisal and the cost of the appraisal, sometimes up to $500, is paid by the homeowner. An appraiser does a complete visual inspection of the interior and exterior of the home as well as taking into consideration recent sales of similar properties and market trends. The appraiser then compiles a detailed report on the home, including an exterior building sketch, a street map showing the home and any comparable sales, photos of the home and street, an explanation of how the square footage was calculated, and any other relevant information.
323 College Street, Groveport, OH 43125
3 BD | 2 BA | 1,560 Sq.Ft.
4824 Bay Grove Court, Groveport, OH 43125
2 BD | 2 BA | 1,323 Sq.Ft.
436 Naomi Court, Groveport, OH 43125
3 BD | 2 BA | 1,488 Sq.Ft.
537 Cherry Street, Groveport, OH 43125
2 BD | 2 BA | 1,380 Sq.Ft.
5500 Ebright Road, Groveport, OH 43125
3 BD | 3 BA | 2,236 Sq.Ft.
700 Elm Street, Groveport, OH 43125
3 BD | 3 BA | 1,900 Sq.Ft.
4884 Bay Grove Court, Groveport, OH 43125
2 BD | 3 BA | 1,323 Sq.Ft.
5225 Hendron Road, Groveport, OH 43125
3 BD | 2 BA | 1,584 Sq.Ft.
882 Main Street, Groveport, OH 43125
3 BD | 3 BA | 2,378 Sq.Ft.
197 Front Street, Groveport, OH 43125
3 BD | 2 BA | 1,988 Sq.Ft.
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