1. Asses the property
First, we examine the specifications of the subject property, including the number of bedrooms, bathrooms, square footage, and home style (e.g., split-entry, rambler, or two-story).
2. Analyze recent market activity
We then review all active, pending, and sold homes from the past six months, as data beyond this period may not accurately reflect current market conditions due to appreciation or depreciation.
3. Evaluate and adjust home value
Next, we'll evaluate the condition of the other homes and compare them to your property:
a) We'll adjust the value based on differences in condition.
b) We'll consider factors that might detract from the value, such as proximity to power lines, major roads, or cemeteries. For example, if your home is on a major road, we'll reduce the price to account for road noise and safety concerns, especially for buyers with children.
c) We'll look at the upgrades in your home versus the comparable homes. If the comparable homes have updated kitchens with quartz countertops and new cabinets, but your home hasn’t been updated since the 1980s, we’ll decrease the value since the buyer will likely have to remodel the kitchen.
