Home Values For Sellers
If you’re in the early planning stages of selling your home in Colorado, you’re probably wondering how much it is worth. After all, knowing how much money you’ll be making is needed to know your next step.
The easiest way to estimate your home’s value is to contact a Colorado Realtor who works in your area. They will be able to run a comparative market analysis (CMA) on your home to give you an estimated value.
What Is A CMA?
A CMA is a tool used by Realtors to determine a home’s value. Your Realtor will look at homes that have recently sold homes as well as those currently on the market that are similar to yours.
These are some of the features they will look at:
- Square footage
- Number of bedrooms
- Number of stories
- Additional features like swimming pool, basement, deck, and so forth
- Lot size
- Overall condition
Your Realtor will also want to look at similar neighborhoods within a mile or so of your home. Once they have this information, they will be able to come up with a value for your home.
If you are looking for an instant home value, please go here.
Other Factors When It Comes To Home Values
The Colorado real estate market changes rapidly. Homes have been greatly appreciating in value, over 20% in the last year – and more shocking, as much as $35,000 in a single month in Denver. However, that is not always the case. Your Realtor should be well aware of the market and will be able to add or subtract value based on current Colorado market trends.
Why Should I Know What My Colorado Home Value Is?
Once you have a good idea of what your home is worth, you can use that information to help you plan your budget for your next home if you are planning to sell first and then buy. Knowing your home’s value is also helpful if you are planning to get a home equity line of credit to use toward a home remodel, vacation, to pay down debt, or whatever else you want to use your home equity on.
If you’d like more information, we would be happy to help.
Give The Gongloff Group a call!