The Outsider

Good Morning!

It’s your favorite Real Estate duo gracing your inbox as usual.

Today, I would love to give you some insights on Home Valuations.

Please beware that real estate advice is not a one size fits all. Your Real Estate Plan should be tailored fit to your needs.

If you’d like to know how much your home is worth today Click Here!

If you are currently a Home Owner, the Real Estate headlines in the last couple years must make you pretty excited. After all, home values have skyrocket since the beginning of the pandemic. So many homeowners are sitting in an incredible amount of equity. And the most remarkable things is that you’ve made most of that money in your sleep. What a DREAM!

Even tho 2023 brought a little less insanity to rising home prices, they are still going up.

So, how much is your home worth exactly? Well, I would say a PRETTY PENNY!

According to NAR, the average US homeowner has about $290,000 in equity. YES, YOU READ THAT RIGHT! And many homeowners are unaware of the equity they currently have in their home.

It’s tempting to believe online websites to determine the actual value of your home but nothing replaces the objective analysis of a Real Professional.

So, how do you determine the value of your home?

Realtors call this a CMA (Comparative Market Analysis) and some (like me) like to couple that with a PEAR Report (Professional Equity Assessment Report).

A CMA allows you to gather a handful of comparable properties based on location, school district, size, construction type, square footage, lot size. It also includes any updates done to the house. After comparing several like properties, your realtor will come to a range of value that your home may be worth in the current market.

A PEAR assessment goes further and factors in how much your mortgage balance and any costs that may be associated with a possible transaction to give you the most accurate number possible.

Based on these reports, homeowners may have a few options but thats a topic for another Newsletter.

Want to know how much your home is worth? Contact Mee Today

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I’ll see you Wednesday!

Your favorite Realtors,

Filipa & Emmy