Free home valuation
Find out what your home is worth
Know your local real estate market. Whether you are considering a move or just want to know what’s happening with homes in your local community, it’s a good idea to get a home evaluation. This is a free tool that estimates how much your home is worth.
WHAT TO CONSIDER BEFORE BEGINNING...
What is a Free Home Valuation?
- Free home evaluations are a service we offer to help homeowners determine the value of their property. These evaluations involve a Sold by Shearers visiting the property and conducting a thorough analysis of the home's features, condition, location, and recent sales in the area to determine an estimated market value.
- Homeowners can use this information to help them make informed decisions about selling their home, refinancing, or making renovations. Free home evaluations can also help homeowners understand the current real estate market and the value of their property in relation to other homes in the area.
- Homeowners should be aware that while free home evaluations are a useful tool, they are not a substitute for a formal appraisal, which is typically required by lenders when obtaining a mortgage.
How do I Choose an Agent to Work With When I've had Multiple Home Valuations?
4. When multiple real estate agents have prepared a home valuation, it can be challenging to decide which agent to work with. One of the most important factors to consider is the agent's experience and track record in the local market. Look for an agent who has experience selling properties in your neighborhood and has a proven record of success.
5. Additionally, consider the agent's communication style and responsiveness. You want to work with an agent who will keep you informed and be available to answer your questions throughout the process.
6. It's also important to feel comfortable with the agent and trust their expertise and advice. Consider scheduling meetings or phone calls with each agent to discuss their approach and get a sense of their personality and communication style. Ultimately, you want to choose an agent who you feel confident will represent your interests and help you achieve your goals.
Sales-Comparison Appraisal Approach
7. The sales comparison appraisal approach is a commonly used method to determine the value of a property. This approach involves analyzing recent sales of comparable properties in the same area as the subject property. The appraiser identifies properties that are similar in size, age, location, and features to the subject property, and then compares their sale prices to arrive at an estimated value for the subject property.
8. Adjustments may be made to account for differences between the properties, such as a larger lot size or an extra bedroom. The sales comparison appraisal approach is typically used for residential properties and is especially useful in areas where there are many recent sales of comparable properties.
9. It's important to note that this approach is just one of several methods used in real estate appraisal and that a formal appraisal may include other approaches, such as the cost approach or the income approach, depending on the property and its intended use.
Cost Appraisal Approach
10. . The cost appraisal approach is a method of determining the value of a property based on the cost to construct a similar property. This approach is typically used for newly constructed or unique properties where there are few comparable sales to analyze. The appraiser estimates the cost of constructing the property from scratch, factoring in the cost of materials, labor, and overhead. The appraiser may also factor in the cost of the land, including any improvements, such as grading or landscaping.
11. The resulting estimated value is then adjusted to account for any differences between the subject property and the hypothetical property, such as age or condition. The cost appraisal approach can be useful for determining the replacement cost of a property, but it may not reflect the actual market value of the property, particularly if there are significant differences between the subject property and the hypothetical property.
Income Capitalization Appraisal Method
12. The income capitalization appraisal method is commonly used to determine the value of income-producing properties, such as rental properties or commercial buildings. This approach is based on the idea that the value of an income-producing property is directly related to its ability to generate income.
13. The appraiser estimates the property's potential future income stream by analyzing the current and projected rental income and expenses, as well as any potential vacancy rates or other factors that could impact the income. . The appraiser determines the appropriate capitalization rate, which is a percentage used to convert the income into an estimate of the property's value. The capitalization rate is based on factors such as the risk associated with the property, the current interest rates, and the overall market conditions.
14. The income capitalization appraisal method can be a useful tool for determining the value of income-producing properties, but it is important to note that the accuracy of the appraisal is heavily dependent on the accuracy of the income and expense estimates used in the calculation.
FAQS
Check out these frequently asked questions in Peterborough County
What happens when a REALTOR values your home?
Home valuations are personal. What your home is worth to you relies on emotion and sentiment, that isn't necessarily the case for the public. We listen to your financial needs and expectations. A property valuation takes into account multiple factors including:
- Bedrooms
- Location
- Home Improvements Made
- Additional Features
- Recently sold properties in your area
Is my property valuation free?
Sold by Shearers Team offers free property valuations with no obligation to sign.
When is the right time to have a valuation done?
We advise that the best time to have your property valuation is when you are ready to put your home on the market. Economic fluctuations and market value shifts frequently and this will change the valuation of your home as time goes on. After 6 months, you will need a new property valuation as the past one would be outdated and the prices have likely changed.
How do I get my Property Valuation?
Our knowledgeable team members can book a date and time that is convenient for you and will guide you through the process. Following visiting the property, they will prepare a written report with their findings for you and present it, giving you time to digest all the materials before moving forward.
CENTURY 21 UNITED REALTY BROKERAGE INC.
387 George Street South (PO Box 178), Peterborough, ON K9J6Y8
(705) 743-4444
CALL THE SOLD BY SHEARERS TEAM : 705-957-9073
JOANNE SHEARER
BROKER
T: 705-930-1750
E: info@joanneshearer.com
AJ SHEARER
BROKER
T: 705-957-9073
E: info@ajshearer.com
FOLLOW US
Independently Owned and Operated. ®/™ trademarks owned by Century 21 Real Estate LLC used under license or authorized sub-license. © 2020 Century 21 Canada Limited Partnership © 2020 Century 21 Canada Limited Partnership
The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system. The trademarks REALTOR ® , REALTORS ® and the REALTOR ® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. This listing content provided by REALTOR.ca has been licensed by REALTOR® members of The Canadian Real Estate Association. Not intended to solicit properties currently listed for sale or buyers under contract.
Century 21 Canada Limited Partnership currently has franchise opportunities available in select markets across Canada. The intent of this communication is for informational purposes only and is not intended to be a solicitation to anyone under contract with another real estate brokerage operation. This e-mail message contains confidential information intended only for the use of the individual or entity named above. Any unauthorized use or disclosure is strictly prohibited. If you have received this communication in error please immediately delete the e-mail and either notify the sender at the above e-mail address or by telephone.
© 2023 MoxiWorks
