MARKET ANALYSIS

Comparative Market Analysis

A Comparative Market Analysis, or CMA, is one of the key tools we use to help determine your home's value. It’s all about comparing your home to others that have recently sold in your area, homes that are similar in size, style, and features. We typically look at three comparable properties, analyze the differences, and then adjust for things like upgrades, condition, or location. This gives us a clear picture of what your home would likely sell for in today’s market. It’s not just about data, it’s about understanding the story behind the numbers so we can price your home strategically and confidently.

HOME APPRAISALS

Professional and Unbiased Valuations

A home appraisal is a professional, impartial estimate of a property's market value, typically required by lenders during home purchases and refinances. Conducted by a licensed appraiser, it’s based on a thorough inspection of the home’s interior and exterior, recent comparable sales, and current market trends.

The detailed report includes a property sketch, photos, a street map with comps, square footage calculations, and market insights. Appraisals are usually ordered by the lender, with the cost, often up to $500 paid by the homeowner.

For sellers, getting a professional appraisal before listing can be a smart move. It helps set a competitive price, strengthens your position during negotiations, and reduces surprises during the sales process.

Refinancing

Know Your Home’s Value Before You Refinance

When refinancing your mortgage, lenders determine how much you can borrow based on your home’s current market value. Most lenders allow homeowners to refinance up to 75% to 96.5% of their property’s value, depending on the loan type and qualifications.

Understanding your home’s value is key to calculating your equity; the difference between what your home is worth and what you still owe. The more equity you have, the more favorable your refinancing terms may be, including lower interest rates, reduced monthly payments, or access to cash-out options.

A current home valuation helps you make informed refinancing decisions and gives lenders the confidence they need to offer you the best possible terms.

HOME IMPROVEMENTS

Make Smart Renovation Decisions

Thinking about upgrading your home to boost resale value? It’s important to ensure your improvements align with your local market. If your home is already priced at the higher end for your neighborhood, over-improving could make it harder to sell.

Getting a current home valuation helps you understand how your property compares to others nearby. This insight can guide your renovation choices, ensuring you invest in projects that add value without pricing your home out of the market.

QUALIFYING FOR CREDIT

Using Your Home’s Equity Wisely

 If you're looking to borrow cash against your home, a Home Equity Line of Credit (HELOC) can be a smart financing option. To qualify, most lenders require you to have at least 20% equity in your property.

A professional home valuation is a crucial first step. It helps you understand how much equity you’ve built and gives lenders the information they need to evaluate your eligibility. Knowing your home’s current market value can help you make informed decisions and improve your chances of loan approval.

Planning for the Future

Know Your Home’s Value

Even if you're not planning to sell, knowing your home’s current market value is a smart move. It helps you prepare for the unexpected, whether it's a sudden move, a financial emergency, or a new investment opportunity.

Understanding how much equity you have and what your home could sell for or borrow against empowers you to make informed financial decisions and respond confidently to life’s curveballs.