Seller Resources - Articles - Value and Worth

Selling Your Home - Appraisals & Market Value

What is the difference between market value and appraised value?
The appraised value of a house is a certified appraiser's opinion of the worth of a home at a given point in time. Lenders require appraisals as part of the loan application. Market value is what price the house will bring at a given point in time. A comparative market analysis is an informal estimate of market value, based on sales of comparable properties, performed by a real estate agent or broker. Either an appraisal or a comparative market analysis is the most accurate way to determine what your home is worth. It is often said the purchase of a home is an emotional experience, so "VALUE is in the eye of the beholder (the buyer or seller)".  As a buyer or seller you may see emotional value above a appraised market value.  If so, let us know as we negotiate the offer.

What standards do appraisers use to estimate value?
Appraisers use several factors when estimating a home's value, including the home's size and square footage, the condition of the home and neighborhood, comparable local sales, any pertinent historical information, sales performance and indices that forecast future value. 

Noel and Paula David
Noel and Paula David
Broker Associates