What is a Home Worth?
What is a home worth? A simple question deserving a simple answer, right? Well, that depends on who is asking, and why they are asking!
When discussing home “value” one will likely encounter one or more of the following terms:
“Broker Price Opinion or BPO”
“Comparative Market Analysis or CMA”
“market value or opinion of value”
“insured value – actual cash value or replacement cost”
There can be a surprising difference in each “value”. It is important to know the purpose for which the “value” is going to be used when deciding which meaning applies.
For more insight into these terms, what they mean when buying or selling a home, and what you can expect in return-on-investment from a real estate transaction, complete the GET IN TOUCH form on this page and we will send you our guide “What’s a Home Worth?“.
For assistance with this or any real estate matter, ask a Real Estate Advisor | REALTOR® from Martin Real Estate Advisors Group | United Real Estate to get in touch with you as soon as possible.