What is Market Evaluation?
Thursday Aug 31st, 2017Share
Realtor is the best person to provide a market evaluation for local properties. A market evaluation analyses the current real estate market and the specific property in question. Market evaluations are done to provide a value of a particular property usually for the reason of buying or selling the property in question. Market evaluations use comparables with a specific area in mind over a certain period of time and other property factors that help narrow down subjects to compare to. Raj SharmaReal Estate BrokerBrampton Real Estate
Real Estate Market Evaluation Process
Realtors often do market evaluations for their clients or potential clients as a proposal. This helps them determine the value of their clients' home or a home that they are looking to buy into. Home buyers will have the opportunity to compare potential properties so they can understand what pricing to place on their home for sale or for a home they wish to purchase.
Realtors use market evaluations to take into account the many different factors that entice individuals to buy or sell their property. Things like similar location, age, size and the square footage are used for determining value. Other factors can be amenities, specific location influences like a ravine or any renovations or upgrades that were performed on the property.
Sales data is usually limited to a period in the past, on average 60-90 days, that way market fluctuations can be taken out of the equation when comparing prices. Adjustments are then made to the prices to help make properties more comparable to the subject property. One house may contain a garage and another not,sovalue of garage would be deducted or added to the pricing.
It should be noted that no market evaluation can be perfectly accurate as there are too many factors to consider - personal preference, financial situations, emotional attachments, market fluctuations or even the weather.
Importance of Market Evaluation
There are many factors that create influence for whether or not a home is purchased or sold and proper pricing is what makes that possible. When you over price a property, you turn away prospective buyers and if you under price a property, you'll miss out on financial benefits. Without these evaluations, it would be impossible to truly price the property at the right value. These market evaluations provide buyers and sellers alike a starting point so they can make an informed decision when purchasing or selling real estate properties. Raj SharmaReal Estate BrokerBrampton Real Estate
How much is your home worth?
If you're looking to sell your home and you're not sure what it is worth, then let me know. I understand the dilemma of not knowing the exact value of your home before selling and can lead to potential wrong deals and losses. The only way to go is a Free Home Market Evaluation.
Realtors are trained to perform the market evaluation (CMA) to determine the right asking price for your property. I can undertake comprehensive studies to determine the right selling of your home in the current neighborhood within the current market trends. Don't get bogged down by recent low pricing as your neighborhood might offer much better deals. That's why you should ask for a Market Evaluation so we can determine a variety of factors: features, area, rooms, plumbing, electrical, mortgage and more. It's an appraisal and home inspection tied into one.
Most home owners think they know the right price after comparing a few recent sales. I will get you a detailed market evaluation report and this report will unlock the true price of your home but also guide you on the various reality related processes to make your home selling experience easy and stress-free.
I do market evaluations for the Greater Toronto Area real estate because I work locally Say's Raj SharmaReal Estate BrokerBrampton Real Estate if you need a real estate evaluation because you are interested in selling your property, please Contact me or Click here to request a free market evaluation.