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Parent Category: Real Estate Condos House

Home values fluctuate. What a home is worth today can change quite rapidly. The best way to determine the current value of your home, or a home you may be considering purchasing, is with a real estate market analysis, or CMA (Comparative Market Analysis) as it is called in the real estate industry.

Fair market value is defined as “a price at which buyers and sellers both having reasonable knowledge of the property and being under no compulsion are willing to do business.” However, it's important to understand that appraisers define market value a little differently than real estate agents. Appraisers define real estate market value based on recent closed and pending sales and improvements you've made to your home. Real estate agents, on the other hand, look at things like the current market, comparable area sales, pending area sales, list prices, sales time and area inventory to predict the market value of a piece of real estate. When defining real estate market value, consult both an appraiser and real estate agent to get the most accurate market value amount possible.

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