A market analysis can be a very useful thing but many people only think about getting one when they are considering selling their house. However, there are other times when a market analysis is either necessary or just handy to have. Here are my 5 top uses for getting a market analysis for your house:
- Refinance – If you’re not sure if you have enough equity in order to refinance, I’m happy to come out and do a market analysis to determine how much your house is worth before you have to pay for an appraisal.
- Estate Sale – when someone passes away you will need a market analysis to determine the total value of their estate to see if there are taxes due
- Gifting Real Estate – if you’re going to gift property to your children or another family member, you’ll need a market analysis to state what the current value of the property is.
- Tax Abatement – if you think the city’s assessment of your house is too high, sometimes a market analysis can help convince the city to lower your assessment (and your real estate taxes)
- Thinking of Selling – of course the most common reason to get a market analysis is because you are thinking of selling your house or condo.
No matter what reason you might want a market analysis, this free service is one of the ways I give back to the community.