Margaryta Booth Principal Broker

King Neptune Statue on the Boardwalk in Virginia Beach

What is Your Home Worth?

WHAT IS YOUR HOME WORTH: Home Valuation

The most common method of finding out what your home is worth if to do a Market Analysis at Pink Pearl Real Estate we offer this market analysis free of charge.  Another method is to have an appraisal completed for your home; appraisals can be costly ($350.00 to $450.00), and many of your buyers may or may not pay attention to the appraisal.  A common mistake is to find the online version of your appraisal but they can also be mistaken for the Tax Assessment you get on your property.  Each property is unique and if you want to get credit for all of your upgrades it would take a full appraisal.  The Comparative Market Analysis (CMA) is cheap and close because the Realtor actually comes in and uses the information you provide to compare your home to those that recently sold.  Below we have a checklist for you to follow in order to best predict your market value.

Market value of your home is Not
  •    What you need out of it
  •    What you have in it
  •    What it appraised for
  •    What your home taxes are
  •    Based on prices of homes where you are moving

 

The Value of Your Home is What a Buyer Is Willing to Pay!
  •    Based on today’s market
  •    Based on today’s competition
  •    Based on today’s financing
  •    Based on today’s economic condition
  •    Based on buyer’s perception of condition
  •    Based on location
  •    Based on normal marketing time
  •    Based on showing accessibility
Seller Controls
  •    The Price
  •    The condition of the Property
  •    The showing conditions
  •    Access to the Property
Seller Does Not Control
  •    Market Conditions
  •    The motivation of your competition
  •    Value