Determining the value of your home
There are two ways to determine value in the real estate business.
One is an appraisal. An appraisal is the value "as of" a specific date as determined by a licensed appraiser. The appraiser gathers 3-6 recently (over the last six months or so) closed sales in the neighborhood or in similar neighborhoods, and offers his or her opinion of value based on those closed sales. Because no home is exactly alike, the appraiser will give weight to each closed sale based on things like similar appeal and design. Another way is by having a real estate agent do a CMA or comparative market analysis. The agent looks at closed sales in the neighborhood over the last six months, as well as sales that are pending and active listings. The agent then provides an opinion of your home's value based on closed, pending, and active listings.
Best of all, when you work with us, you have an agent and an appraiser all in one. Because the Kennihan Team is licensed as a realtor/broker, with Denise Kennihan also certified by the North Carolina Appraisal Board as a State Certified Real Estate Appraiser. So when we say we know market value and the value of the market, we clearly have the expertise and credentials to back it up.
Call or email the Kennihan Team. We'll be glad to help.
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