An appraisal is a professional estimate of a property's market
value, based on recent sales of comparable properties, location, square
footage and construction quality. This service varies in cost depending on the
price of the home.
A comparative market analysis is an informal estimate of
market value performed by a real estate agent based on similar sales and
property attributes, usually found in an MLS system.
Most agents offer free analyses in the hopes of winning your
business. You also can get a comparable sales report for a fee from private
companies that specialize in real estate data or find comparable sales
information available on various real estate Internet sites.
A so-called comparative market analysis provides the
background data upon which to base your list-price decision. When you prepare
to sell and are interviewing agents, study each agent's comparable sales
report (the data should be no more than three months old). If all agents agree
on a price range for your home, go with the consensus. Watch out for an agent
whose opinion of value is considerably higher than the others.
For more Information, contact the City Build1ng Official at (512) 267-1155
or come to 5803 Thunderbird between 1:00 pm and 5:00 pm, Mondays through
Fridays.