How Do I Determine What My Home is Worth?
The only way for you as a homeowner to learn the fair market value of your home is to contact a licensed Real Estate Agent. We can easily perform a Competitive Market Analysis (CMA) for you. You can also contact a licensed appraiser to perform a full appraisal of the home. An appraiser will typically charge anywhere from $300 to $500 for this service. If you would like to have an appraisal done, we can recommend several from our Business Directory.
Many people will use on-line services like Zillow to “get a valuation” of their home. We tested this in May 2020 using one of the homes that we own. The “Zestimate” said that the home was worth $250,000. As part of a refinance, we had the home appraised. The value was actually $315,000. That’s a considerable difference!
The licensed real estate agents at DMS Properties, LLC Residential Real Estate Services have performed CMAs for over 3,400 Maryland homes. Those homes have a combined value of over $508 million. Many of these were done for lenders in the form of a Broker Price Opinion (BPO). You can Request a FREE market analysis of your home from us. It normally takes only one business day to complete. We will then send it to you by e-mail. It will be in PDF so that you can save or print it. After you read the CMA, you can Contact Us so that we can discuss the best course of action for you based on your individual needs.