Durham Region Real Estate Blog

We get calls every day.  “Please come by my home on Thursday to have a look and let me know the current market value.”  We call these CMA’s for Current Market Assessment.  There are occasion where this is a fairly simple process. If your home is located in a subdivision with several like homes surrounding it, we just pull up the most recent sales and the value becomes clear.  However, how do we evaluate a home that is unique?  This is a much tougher job, and the time where you want to make certain to choose a well establish agent who really knows the market in your neighbourhood. 

The basic steps are the same, pull as many comparable sales as you can find and go through them, item by item, adding value where your own home is superior and subtracting when the comparable has additional features.  Add up all the figures and you should have a pretty good idea of the value.  Of course, this is just an opinion garnered from the past market – sales.  The real value is determined on the open market, when you list your home and a buyer decides to purchase it. The buyer actually sets the price, because in the end, the buyer is the one who decides how much they will pay. 

Of course, you can help increase the value of your home by maintaining it well and updating the decor at least once a decade! And cleaning helps a lot.  Clean rooms, closets, baths, windows and garden all make your home show better and buyers will want to live in it.

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