What Is a Competitive Analysis?
Posted by Jen Dollar on
When it comes to putting your home on the market or bidding on one that's already there, many factors play a role in the decision of value. In short, the value of any home is what the buyer is willing to pay for it. Yet, figuring out what that number is can be difficult. That is why you will likely have an agent run a competitive analysis on the home, especially if you are listing your home or buying in a competitive market place. In short, it provides you with a better understanding of the home's value.
How Is It Calculated?
The value of a home is ultimately decided by an appraiser. An appraisal is different from a competitive analysis, but the process is partly the same. In short, this process takes a close look at the value of homes that have…
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