Teton Valley Realty will help value your home for any number of reasons, not just selling you home. Often times, your banker might require an appraisal or a “CMA”, “BPO”, “BOV” which are all simple forms of market valuations performed by an agent or broker. The benefit? While an appraisal can cost (on average) between $300 and $600, a market valuation is a bit cheaper, FREE!
Why are the valuation reports free, and what is a CMA?
TVR prides itself in being community friendly. We participate in community events, we offer our conference rooms to the public for events, and we most definitely offer free home & property valuations. We believe the benefit of helping the community creates reciprocity and strong working relationships.
A “CMA” is a “Comparative Market Analysis”, “BPO” is a “Broker’s Price Opinion” and a “BOV” is a “Broker’s Opinion of Value” All of these are performed in the same basic way. Usually a Realtor or Real Estate Agent will use comparable sale data to perform the analysis as our business revolves around market conditions. However, there are several other ways to value property from rebuild cost, to CAP rates. Our team has well over 150 years combined experience, and we work together when valuing real estate here in Teton Valley.
What tools do you use to value property?
When valuing property in the region including Driggs, Victor, Tetonia, Alta and surrounding counties, we find that homes and values can be all over the map in terms of pricing. Oftentimes Sellers will use tools like the Zestimate program to value their home. Zestimate relies on consistent data. For instance, track housing or townhouses where most homes are similar in finishes, location, etc. Obviously, that usually isn’t the case in the Teton Region! Homes on either side of a street can see a significant difference in Market Value. Teton Valley Realty uses comparable sales data from the Teton and Snake River Multiple List systems, as well as tools available to Realtors, such as the Realtors Property Resource tools, or RPR. In addition, TVR relies on valued opinions from colleagues. These efforts result in some of the most accurate market data reports available.