WHAT TO EXPECT IN A HOME EVALUATION

A home evaluation is a report that is looking for the market value of a home. There are a few different values that may be associated with a home in terms of the value such as; assessed value which is what your taxes are based on and replacement cost value which is what the insurance uses as the cost it would take to rebuild your home if destroyed.However, when it comes to selling, market value is the most important one. This is an estimate based on supply and demand, location, condition, upgrades and improvement. A home with an updated kitchen is of course more expensive and in higher demand than a home that needs 100,000 dollars in repairs. Another example is a home across the street from a nice park would be in higher demand than a home with a train track in the back yard making it worth more as well. All of these factors and more are what we look at when working up that home evaluation estimate.

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