When putting your home on the market, there are many ways to go about determining what your property is worth.
The first such method is a professional appraisal. An Appraisal of your home would give you an “opinion of value” of the highest form from a licensed appraiser. Appraisers in North Carolina are licensed and regulated by the North Carolina Appraisal Board. They are the licensing and regulatory authority over all appraisers.
The second method is a Broker’s Price Opinion (BPO) or also known as a comparative market analysis (CMA). If you are thinking about listing your home, talk to a North Carolina licensed Realtor® about hiring a professional appraiser, conducting a CMA, or doing both.
All estimates of your home’s value whether they be an appraisal or BPO/CMA are based on a variety of things, including square footage, design and floor plan, the neighborhood, schools, landscaping, any additions or updates, and so much more. The cost of an appraisal is usually based upon the square footage of your home. If you are not quite ready to sell then you will most likely want to hold off on ordering an appraisal since they are only good for a limited time period.
We can determine a value if you are about to sell your home by way of preparing a Broker’s Price Opinion by going through the same steps as an appraisal. We will pull the comparable homes that are actively for sale, under contract or that have closed within the last six months. Occasionally we have to go longer but will not look longer then 12 months back since no bank will allow such an old comparable. I will state that if you want a specific and closer value to the actual we would need to see the home in order to do a true comparison and to ask about any upgrades you have done to the home. If you are just curious and would like to know the value of your home we can run a CMA (Comparative Market Analysis) on your home whenever you like.
Just contact us with your home address and let us know how we can be of service.