One of the first things you’ll want to know is: “How much is my home or ranch worth?”
Your home or ranch has different kinds of value:
- Appraised Value: A professional appraiser’s opinion of the value, usually done to satisfy a bank or lender.
- Assessed Value: What your county assessor says your home or ranch is worth, based on recent sales.
- Replacement Cost Value: The cost to rebuild your home from scratch, usually for insurance purposes.
- Emotional Value: The value to you, as the owner, of the home in which you grew up in or raised your children.
- Market Value: What a qualified buyer is willing to pay. This is the value you most need to know in order to sell your home.
We can help you determine your property’s Market Value. We have many years experience doing Comparative Market Analyses, or CMAs.
The first step in a CMA is a visit by the Lario Team to look at your property. We’ll note all the features, including square footage, number of bedrooms and baths, whether you have a garage, your home’s amenities, age of the improvements, how much land you own and irrigation rights. Appraisers will use this same information if an appraisal is done on your property.
Second, we’ll research similar properties in your area that have sold in the last 18 months or are currently under contract (comparable properties or “comps”). Each comp will be compared to yours and adjustments made to its price so that it will compare more closely with your home. For example, if the comp home has three bedrooms and yours only has two bedrooms, the price of one bedroom will be subtracted from the comp. Location is probably the single most important factor in determining the value of your property.
We’ll end up with 6-8 comparable properties in your area with which to compare to yours. Once the CMA is complete, we’ll give you a price range in which the value of your property falls.
However, the final decision in setting a selling price is yours.
To list your Paonia or Delta County home, ranch or property now, contact Bob and Linda Lario today for that competitive selling edge!