We all have emotional connections to our homes, and somehow when we’re deciding to sell, we attach dollar figures to those connections. That’s fine, but only within reason; that’s because a home’s value is only as much as someone is willing to pay for it.
Your Realtor® can give you a comparative market analysis, or CMA, that helps you understand what other homes that are similar to yours are worth. That’s a great way to help figure out your list price.
Naturally, you’ll need to have your home appraised. But what’s with all of the numbers that don’t match, such as your property tax assessments, your mortgage balance and the home’s purchase price?
Property Tax Assessments
Every area has its own formula to figure out home values for tax assessments, but in most cases, they’re not a true picture of what your home is worth.
Your mortgage balance doesn’t have much to do with your home’s value. It’s only the amount that you sti