Home Selling in Brooklyn>Question Details

Marie Perlmu…, Home Buyer in Brooklyn, NY

how do i find the value of my house?

Asked by Marie Perlmutter, Brooklyn, NY Tue Aug 28, 2012

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Answers

26
Ok folks. Lets put this issue to rest.

There was a great discussion between Agents when asked the question:

Will Giving a Free CMA get you the Listing?

I will agree with Tom (twisted my arm) on the fact that you can get a Free CMA, that being said, the quality of that CMA will depend on why you want one in the first place.

You can get a 10 minute CMA done that is poor quality and does not zero in on the true market value of a house, sort of like a Zestimate on Zillow, just like you can get a CMA that takes hours or days to complete which comparies conditions of homes, special features, etc. aside from just square footage and distance from home being sold.

So Yes, you can get a Free CMA, but good luck getting a qualtiy CMA without listing or at the very least insuring the Agent that you will list with them. I had a blast reading the discussion (attached to this message) it helps Free CMA seekers understand the mindset of the Agent when they do give that Free CMA.

Hope this response helps.
1 vote Thank Flag Link Sat Dec 1, 2012
Call me. I'll help. I'm a real estate broker and a New York State Certified real estate appraiser ,
718-627-8800
0 votes Thank Flag Link Tue Dec 4, 2012
There are two fast ways to find an approximate value of your house and then there is the one more dependable way to find an approximate value of your house.

The two fast ways are through real estate websites like Zillow or Trulia. These websites take homes sold within a certain period and within a distance of your home and come up with an approximate average. The problem is that they cannot isolate homes with outdated furnishings with that of totally updated home. As an example, These websites will take two exact same model homes where one was outdated and sold for $500K and another, totally updated which sold for $600K and tell you your exact same house is worth $550K. The problem is that the websites cannot distinguish between a house with outdated or updated furnishings.

The more dependable way to value your home is to contact a real estate agent in your area to run comparables of all the houses with the same bed/bath as yours with the same general size sq. footage and lot size to come up with a more exact and up-to-date amount.

Good luck!
0 votes Thank Flag Link Tue Dec 4, 2012
Hello, the most efficient way to get the value of your home is to use a professional real estate agent or broker which is FREE.

Our system is accurate and we can get the latest homes that have sold with a week of the closing. Also we know how to compare the homes properly in your area to show you why certain homes went for a particular price.

When pricing your home or to just find out the real value you need an agent that has sees tons of homes daily and can come to yours to give a detailed evaluation.

Ms. Perlmutter, feel free to give me a call the evaluation is totally FREE!
0 votes Thank Flag Link Tue Dec 4, 2012
Lol, you do persist Kevin. My free CMA's are high quality, free, and without obligation. But I do admire your tenacity, I'm glad you don't think the world is flat or we would have to read pages on that also lol
Tom Brady SFR, e-PRO, SRES, GREEN, BPOR
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
631-682-8660
Tom@BradyFamilyRealty.com
http://www.BradyFamilyRealty.com
#1 Listing & Selling Brokerage in NY
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803.
0 votes Thank Flag Link Sun Dec 2, 2012
Hi Marie

Depending upon the reason why you need this basically any realtor will make you a CMA for free, if its
your property. If your just curious how much another home is worth we can give you a ballpark figure.
However if you need it for legal reasons you may need something a little more professional and in that case you may have to pay for it.
0 votes Thank Flag Link Fri Nov 30, 2012
Hi Kevin, if you wanted to get a free CMA on the home you own, plenty of agents will provide it free and clear. If you just decide you want a CMA on a property you don't own, then no, personally I wouldn't provide it. I have done plenty of free CMA's for homeowners without getting the listing, or pressuring them to list. Many homeowners just want to get an opinion of value and aren't planning on selling, that's fine, by providing a free service I hope to enhance my reputation, so the time is never wasted. So free, is free, no opinion just fact. I do appreciate your thoughts but unfortunately, at least in my case, you are wrong.
Tom Brady SFR, e-PRO, SRES, GREEN, BPOR
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
631-682-8660
Tom@BradyFamilyRealty.com
http://www.BradyFamilyRealty.com
#1 Listing & Selling Brokerage in NY
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803
0 votes Thank Flag Link Fri Nov 30, 2012
Everyone entitled to his/her opinion Tom.

We all know that Free is not really Free, its a really a hook with bait at the end of it. Sometimes the fish gets away sometimes it sticks. True?

The pressure is on to list with the Agent. Let's be real here. The Agent is not going to take the time to give you a Free CMA if they don't expect for you to list with them. If I'm curious about a property, not really looking to buy or anything and ask for a Free CMA on a Property, will I get it? If the answer is no, it's not free. If the answer is yes, that Agent won't be in business for long due to "too much time wasted on unproductive activities".

It gets really weird when the Agent does all this work and you don't list with them...sad faces all around. I know the feeling, I've been there, you're not obligated to list with the Agent but he pressure is on. Agents are Sales People first, they have a business to protect so this tactic is not wrong it's just business. Sellers that don't have the experience of working with Agents are not familiar with how things work.

This is only Full Disclosure. So Tom you are right...and wrong...so can we agree to disagree?
0 votes Thank Flag Link Fri Nov 30, 2012
Hi Marie, Kevin's answer below is incorrect, free CMA's are free regardless if you list with the agent or not. I would suggest contacting three agents from different companies in your neighborhood and requesting free CMA's. By getting a variety of opinions it should give you a good feel for both the market and your homes value.
Good luck.
Tom Brady SFR, e-PRO, SRES, GREEN, BPOR
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
631-682-8660
Tom@BradyFamilyRealty.com
http://www.BradyFamilyRealty.com
#1 Listing & Selling Brokerage in NY
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803
0 votes Thank Flag Link Fri Nov 30, 2012
Good answer! Unfortunately, the pressure is on to list with the Agent. Let's be real here. The Agent is not going to take the time to give you a Free CMA if they don't expect for you to list with them. I gets really weird when the Agent does all this work and you don't list with them...sad faces all around. I know the feeling I've been there, you're not obligated to list with the Agent but he pressure is on. Agents are Sales People first, they have a business to protect so this tactic is not wrong it's just business. Sellers that don't have the experience of working with Agents are not familiar with how things work. So Tom you are right...and wrong...agree to disagree?
Flag Fri Nov 30, 2012
You need what is called a CMA or Comparable Market Analysis on your Home. You can do this yourself to a point but you should use the help of a Realtor.

"Free Home Value Analysis" or "Free CMAs" are only free if you list the property with a Realtor. They will take your address and compare it to properties that have sold in the last ~90 days within a 1 mile radius of your house.

If you check sites like here on Trulia or Zillow (I prefer Trulia) and do a search for your address, filter the searches so that they only show sold properties around your home, then filter it further to show square footage of the property, you can narrow it down to a few homes. Now this has to be narrowed down further to homes that match your property on the number of bedrooms and baths, year it was built and condition. Find properties that have been recently sold near your home that are as close as possible to your own home and take the average of the best 3 matches and you should have an idea of what your home value is.

Home Value is only good if someone is willing to pay that amount. So just because you think a property is worth so much based on what you purchased it for, it doesn't mean that is what people will buy it for today...it could be more...it could be less.

Realtors will visit your home and do a free listing on the condition that you will list with them. Once you sign on that line, you will get your free home value estimate. Once you sign on that line, know what you are signing, read everything and get copies. Do not get rushed into making a decision that you will regret in the future.

Try to steer clear from signing an exclusive contract for over 6 months and make sure you find an Agent that you like AND has great listings, meaning that they actually take the time to describe the properties they sell to the T, talking about the area, the features, and income that the property is bringing in along with the current expenses that go out, a video would be great. Make sure the agent has quality listings not just "a lot" of listings. The more listings an agent has the more their time is spread between managing all those listings.

If you are looking to sell, I actually work with Realtors and Attorneys that deal with traditional as well as creative ways of selling your house. There are about 13 ways to sell, how many can your Realtor list...why don't you ask him/her? There's an idea.

All the best!
0 votes Thank Flag Link Fri Nov 30, 2012
Hello, you can get a free home valuation by calling a real estate broker to let him or her know what you would like and an agent will be assigned to you to see the home. The agent will come to see the location, condition and layout of the property. Afterwards the agent will go into the M.LS. to find similar properties in your area that have sold, in contract in the last six months and get give you a value after comparing those properties to your home.

If you still need someone to assist you feel free to give me a call at 646-725-5941.
0 votes Thank Flag Link Thu Oct 4, 2012
Here are couple of ways go to:

1.) A realtor and ask for recent comparables, based on active, pending, sold

2.) type in your home address on the Trulia web site and go from there

3.) also go to Zillow

Goodluck

Perry

http://ruthandperry.com/
0 votes Thank Flag Link Wed Sep 26, 2012
Hi Marie,

The best way to find the value of your house is to have a Licensed Realtor give you a complimentary Comparable Market Analysis (CMA). Please feel free to contact me directly at (646) 463-0896.

Regards,
Athanasia DiMaggio
Associate Broker
ReMax @ the Slope
Cell #(646) 463-0896
email:siadimaggio@yahoo.com
Please visit my website:athanasiadimaggio@bklyrmx.com
0 votes Thank Flag Link Wed Sep 26, 2012
Some good answers so far. You can get an appraisal, a CMA, use Zillow.com, or rely on your tax assessment. I would always go with an appraisal (if cost wasn't an issue). A properly done CMA would be a very close 2nd choice for me.
Web Reference: http://www.bverealty.com
0 votes Thank Flag Link Sun Sep 2, 2012
Hi Robbie, Zillow's values are usually far off. Put in a few addresses which you know the value of and you'll see, they aren't even close in many cases.
Flag Sun Sep 2, 2012
It all depends on the reason why you want the value of your home. For some reasons you will need to hire an appraiser. If you are thinking of refinancing then the bank will order it for you.

If you just want to know what your home is worth an real agent could prepare a market analysis for you.
0 votes Thank Flag Link Wed Aug 29, 2012
If you want to know how much money you are likely to get for your house if you put it on the market, your best approach by far is to invite 3 real estate agents to visit your home and give you their opinions. It's free advice, too.

We are experts on the current real estate sales market. Appraisers are experts on assessing value, whether it's jewelry, art or real estate, which is something else. They cost money to hire, and your ultimate sales price may or may not coincide with the appraisal you have paid for. It's not unusual in Brooklyn for a property to sell for more or less than an appraisal provided by a licensed appraiser hired by the homeowner.

Zillow.com provides estimates of market value that seem to me to be heavily influenced by tax assessment data. So long as you keep this in mind, Zillow can be helpful.

I don't agree that a comparative market analysis can be adequately performed over the telephone or without a site visit. I wish it could! It would save a lot of time. But the reality is, the homeowner is not an objective source of information. Condition, light and air, the yard, and layout of the rooms can really impact the sales price, and homeowners are often completely unable to judge whether their place is in "good" "excellent" or "fair" condition. Decorating that is highly specific--I'm thinking now of a place I saw with the living room painted purple--can be a buyer turn-off and things like this need to be seen and discussed.

If you'd like me to visit and provide a comparative market analysis, please just ask, I work in most areas of Brooklyn and I'd be delighted to help!

Karla Harby
Licensed Real Estate Salesperson
Rutenberg Realty
New York, NY
212-688-1000x146
0 votes Thank Flag Link Wed Aug 29, 2012
You can hire a prfessional appraiser, or contact a few local agents from different realty companies and ask for a cma, comparative market analysis, see what the data suggests and go from there; cma's are provided free of charge by most agents.
0 votes Thank Flag Link Tue Aug 28, 2012
Hello Marie,

Give me an email with your address and I will send you a CMA which will tell you the value of your house.

Luke Constantino
Commercial | Residential
REMAX PARK SLOPE
Direct: (212) 300-3919
Lukeconstantino@remax.net
http://LukeConstantino.com
0 votes Thank Flag Link Tue Aug 28, 2012
Hi Marie
I fully agree with what Jacob has asked, depending upon the reason why you want/need the value
of your home may determine who you should call. However, your first call should be to a realtor
so you will know the market value and they can also assist you in finding the proper person to
help you if you do need this information for other legal matters.

If it is simply for selling your home as you are ready to move on, then you should interview 3 realtors
or as many as you want, until you feel comfortable with that realtor to handle the job of selling your most valued possession.
If I can be of any further assistance please feel free to contact me directly.

madelinepadovano@fillmore.com
718-332-8800
Licensed Real Estate Salesperson
0 votes Thank Flag Link Tue Aug 28, 2012
Dear Marie:

Your best bet would be to have a licensed real estate agent come to your home and give you their opinion of it's value. Most real estate agents will perform this service free of charge and it is commonly referred to as a "Comparative Market Analysis" or CMA for short.

The CMA will take about half an hour of your time and the agent will furnish you with comparable sale information as well as homes similar to your that are actively for sale. The agent will be able to answer any questions you have and also share with you their opinion of your homes fair market value.

If you want you can contact me, I have been selling homes in Brooklyn since 1993 and would love the opportunity to help you! If you want I can even give you a price range that homes like yours typically sell for (on the average). Keep in mind that this type of estimate will not be taking into consideration your homes overall condition and extra amenities. Either way, good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes Thank Flag Link Tue Aug 28, 2012
What's the purpose of finding out the value? Is it for curiosity, sale, divorce, estate planning, refinancing? if the purpose is sale, a Real Estate Broker may provide you with a CMA (comparable market analysis) Other purposes may need the services of a State Certified Appraiser. i can help.

Jacob Shayovitz,
Licensed Real Estate Broker,
NYS Certified Real Estate Appraiser.
718-627-8800
0 votes Thank Flag Link Tue Aug 28, 2012
Getting a free comparative market analysis of your home is a good start. If a house in your immediate area (a block or 2) has sold recently and your house you feel is similar...that could be a close estimate.
0 votes Thank Flag Link Tue Aug 28, 2012
Hi Marie,
I will do a Comparative Market Analysis(CMA) for you. What this entails is researching at least 3 recent (within the past 3 months) sales of houses like yours in the area and 3 houses currently for sale and noting the asking prices. Within this average we can get a pretty good idea of what we'll get when it's sold.
I am an experienced Realtor that knows the area well so call me at 718 763-4110 (office) or 718 915-8003 (cell),. Once I have the actual address, condition and features I can get back to you with the answer to your question; the value oif your house.
Sincerely,
Douglas Meyer, Realtor
Bergen Basin Realty
http://www.bergenbasin.com
0 votes Thank Flag Link Tue Aug 28, 2012
You need a professional to give you the most accurate value I cover all areas of Brooklyn and can help you get the correct price
Call Me at 718-256-4000
0 votes Thank Flag Link Tue Aug 28, 2012
I would be happy to do a free market analysis of your property's value.
Feel free to call me at 917-334-8990 or email me at mjdvorkin@gmail.com.

Michael

Michael J. Dvorkin
Licensed Real Estate Salesperson
Charles Rutenberg LLC (REBNY)
127 East 56th Street, 4th Floor
New York, NY 10022
Cell: 917.334.8990 | Fax: 646.381.3644
mjdvorkin@gmail.com
0 votes Thank Flag Link Tue Aug 28, 2012
Have three agents from different companies come in and provide you with free CMA'a. That should give you a pretty good idea. Don't rely on automated on-line valuations.
Tom Brady SFR, e-PRO, SRES, GREEN, BPOR
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
631-682-8660
Tom@BradyFamilyRealty.com
http://www.BradyFamilyRealty.com
"We treat you like family!"
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803
0 votes Thank Flag Link Tue Aug 28, 2012
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