What’s My Colorado Home Value?
This valuation of your Montrose Colorado home is limited to publicly available information such as tax records, and a very broad range of sold comparable homes and is not meant to replace an Appraisal or Comparative Market Analysis (CMA) performed by a real estate professional. A detailed CMA performed by a real estate professional is crucial to an accurate home valuation.
The Atha Team would be happy to provide you with a free and comprehensive CMA, specific to the unique features of your home. This is highly suggested in order to provide you with a more accurate and complete valuation, allowing you to make better-informed decisions regarding your investment.
A Competitive Market Analysis (CMA) is a report, based on local real estate data and professional expertise, providing home owners a price range valuation on their property. CMAs are typically based on comparable or similar homes, within similar neighborhoods, that have recently sold within the local real estate market. A CMA also bases its valuation of the subject property on the grade of finishes within the home, size of property/acreage, and the location of property.
Another aspect of the CMA home valuation is based on buying and selling trends within the local market. These trends are much harder to discern and therefore require a professional who has a familiar and intimate relationship with the local market.
I Know What My Home is Worth, Now What?
The purpose of a market analysis is to help consumers make better informed decisions. An informed position is crucial when dealing with a high-value asset such as your home. Knowing how much your home is worth can reduce the guessing game regarding your financial options moving forward.
When you know the current market value of your home, you can:
- Sell the home to get the cash value out
- Refinance the home to get a lower interest rate and/or eliminate mortgage insurance
- Take cash value out of your home through a Home Equity Loan
- Have peace of mind, knowing what your home could sell for in the current market if you needed to sell