Professional Home Valuation
Find out the value of your home or land from a coldwell banker san juan islands expert.
If you are interested in knowing the value of your home or land in the San Juan Islands, one of the Coldwell Banker San Juan Islands Inc. experts can assist you by processing a Competitive Market Analysis (CMA). This report will provide you with an opinion of value for the purpose of assisting you with pricing when you are considering selling.
A CMA may also be processed as a service for a buyer who is considering making an offer to purchase real estate.
The Coldwell Banker professional will evaluate the property by reviewing all recent property sales and determining what a typical sized property is selling for given such factors as square footage, number of bedrooms, amount of land, size of view, waterfront, etc. Our islands can make this process a challenge as most of our properties were improved as owner designed construction and so made very custom; finding similar properties can be difficult. In addition to reviewing recent sales, adjustment factors may need to be applied such as current and forecasted market demand, the appreciation calculation, the cost approach based on present value of each component, the amount of comparable properties currently available and the subject propertys special features.
Completing the CMA allows the Coldwell Banker professional to develop an opinion of the value; this is part science and part art. That is why it is imperative to select an agent such as one from Coldwell Banker San Juan Islands, as we offer the experience and track record to support our conclusions of value.
Consumers should be cautious when using on-line home value estimators as they do not function very well in San Juan County. These systems assume that the properties are all similar and as mentioned above, properties in our islands are very unique.
Typically, requests for valuations for legal purposes such as divorce, estate planning, etc., should be referred to local appraisers. A CMA is not an appraisal as defined in chapter 18.140 RCW but is prepared by a real estate licensee who is not state certified or licensed as a real estate appraiser.
Definition: Market Value is the price a property is most likely to command in a competitive and open market, with a willing buyer and a willing seller in an arms-length transaction, wherein the parties have each acted knowledgably, prudently, and without compulsion