RE/MAX New Beginnings

What's a house worth?
Ultimately, a home is worth what someone will pay for it. 

To determine a property's value, most people turn to either a certified and licensed real estate appraiser or a Realtor for a comparative market analysis.   

An appraisal is a certified appraiser's estimate of the value of a home at a given point in time, using data related to a property's square footage, construction quality, design, floor plan, neighborhood statistics, availability of transportation, shopping and schools. Appraisers also take into account, the properties lot size, topography, view and landscaping.  

A comparative market analysis is a real estate broker or agent's estimate of a home's market value based on sales of comparable homes in the neighborhood. 

What is the difference between list price, sales price and appraised value?
The list price is the seller's advertised price, the amount of money they would like to receive for their property sale.

The sales price is the amount of money you as a buyer would be willing to pay for the sellers property. 

The appraisal value is a certified licensed appraiser's value or worth of the property  based on comparable sales, the condition of the property and numerous other factors.

Mortgage lenders always require an appraisal before your loan commitment.