Determining Property Value

The Market Approach

The market approach to determining your home value is based on the premise that a prudent person will pay no more for a property than it would cost to purchase a comparable substitute.

Competitive Listing and Sales Prices

To form an opinion of value, we analyze current listing and sales prices of similar homes in your area. We consider properties that have recently sold, are currently for sale, or were offered for sale but did not sell. Although none of these properties are identical to yours, only those that have a high degree of similarity are noted in this report.

Comparative Evaluation

We prepare a detailed description of your property and an estimate of the selling price range in today's market. This is known as the comparative or competitive market value of a property.

Factors That Do Not Affect a Property's Value

  • What the owners paid when they built or purchased the property
  • Some of the improvements and upgrades the owners have made to the property
  • The cash proceeds the owners want or need from the transaction
  • What friends, neighbors or relatives say a property is worth