The market value is an opinion of what a property would sell for in a competitive market based on the features and benefits of that property. It factors in the overall real estate market in the area (such as supply and demand) and what similar properties have sold for in the same condition.
The market value of your home is not the same as the city’s assessment on your home. That’s simply your home’s tax value.
Arriving at the correct market value of your home is crucial to selling your home in a timely manner. That’s where you need the experience of a professional Realtor®, someone who knows your real estate market like the back of her hand.
Gary Klassen offers free home evaluations to determine your home’s market value. It’s called a Comparative Market Analysis (CMA).