What is my Home worth in Today’s Real Estate Market?

What is My home worth in Today’s Market? I get asked this question alot! The answer may suprise you. Many homeownerss assume that they know the current value of their home based upon what their neighbors home down the street sold for 9 months ago. While this is a good indication of a home’s current value, there are many factors that need to be examined to arrive at a home’s current market value.

To arrive at a fair market price, you need to a have a current CMA done on your home. What is a CMA? The definition of a CMA is as follows: ” By going to sold property records, the real estate professional selects recently sold properties that are similar to the subject property and in the same area. By comparing these properties, and adjusting for feature differences, an estimate of value is made for the subject property.

A thorough CMA would also include comparison to currently listed similar properties in the area. This would allow an assessment of the current competition and might lead to an increase or decrease in the estimate based on the sold properties.”

Before you list your home, you need a current CMA, not a ‘gestimate’ or a ‘ball park’ figure. If you would like a CMA performed on your home, please call me, Greg Winkeljohn at 580-231-0992. As always, I provide this information free of charge for Real Estate in the Enid area.

 Greg Winkeljohn: Realtor-Broker for United Country Real Estate in Enid