What Are the Standard Ways of Finding the Value of a House?

A comparative market analysis and an appraisal are two standard ways consumers, lenders, and real estate agents deterimine what a home is worth.

As a part of your real estate transaction, we provide a comparative market analysis to you; the cost is included in the total commission payable by the seller in the transaction. This is an estimate of value based on comparable sales in the neighborhood. You also can research "the comps" yourself by checking on recent sales in public records. Be sure that you are researching properties that are similar in size, construction, location and condition.

This information is not only available at your local recorder's or assessor's office but also through private companies and on the Internet. You may hire The Ashburn Group to perform a comparative market analysis independent of a real estate transaction.

An appraisal, which generally costs $300 to $500 to perform (in the Columbia area, for a standard home in a subdivision), is a certified appraiser's opinion of the value of a home at any given time. Appraisers review numerous factors including recent comparable sales, location, square footage and construction quality.

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