Peggy Cain & Sue Kalina






 The Karen Douglas Realty office is located in Geneva Illinois.





Current Home Market Valuation Methods
& A FREE Home Valuation For You

Free CMA Home Valuation.
Click on this banner to submit a Home Valuation Request.

Peggy Cain can also provide you with all of this information offline.
Call her at 630-269-6945 or click on her E-mail Link below.

What is Fair Market Value?

The job of the real estate appraiser is to estimate market value, the probable price of a property at a fair sale. Generally there are three approaches the appraiser can utilize to determine the value of a property. The sales comparison approach uses the closing price of homes recently sold that are as similar as possible to the subject property. The cost approach makes use of the current cost of construction, depreciation and the current value of the land. The income approach applies to income producing properties such as office buildings, apartment buildings and retail space. A formal appraisal will be required by the buyer's lender prior to closing and usually will be conducted by an appraiser chosen by the lender.

A comparative market analysis, also known as a CMA, uses many of the same tools used by an appraiser but is not as technical in nature. Recently sold properties, those currently on the market and even cancelled or expired listings for homes that did not sell provide important information. The most useful comparables are those that are most similar in size, location, condition, age and style. Since no two homes are ever exactly alike, the comparables must be equalized. Value would be added or subtracted for features that one home has and another doesn't in order to provide an apples to apples comparison. Extremely unique features or lack of comparables in your area can make a CMA more difficult. How do real estate taxes compare with the other homes used as comparables? Market conditions and supply and demand also play a part in the CMA. Are you considering selling during the fast paced spring market or another time of year? Are there many homes on the market in your area or few to none?

All of these tools are used by real estate agents to help you value your home and help you to carefully choose the listing price. It is equally important that the listing price be neither too high or too low. The downside to under pricing is easily understood. Overpricing can result in extended market times and frustration. Homebuyers who have looked at other homes in your price range become very good at determining fair value. If your listing price is too high your home will be compared to other homes in that price range. How will it compare? Potential buyers who could afford your home may not see yours because they are searching a different price range. If you do receive an offer and procure a signed contract for an inflated price there is the possibility that the property will not appraise. If the appraiser believes the property is overvalued, the lender will also. There will be no loan and you are back to square one. It happens. All of these factors must be taken into consideration when setting your listing price. There is no precise scientific formula that can be used to predict exactly what a willing buyer will pay for a particular piece of property. Honest opinions of fair market value can vary within a reasonable range but your real estate agent or appraiser should be able to justify and explain how they arrived at the final numbers.

If you are interested in a rough estimate of the listing price for your own home you can use this site to search homes on the market in your area that are as similar to your own as possible. Keep in mind that the listing and selling price are usually not the same amount. Think of it as you would a new car purchase; the sticker price versus the price you agree to pay. If you feel that you are getting close to listing your home for sale I would be more than happy to prepare a CMA for your home.

Peggy Cain


I believe I have to sell my home
but I'm not very happy about it.
Can we just talk?

I suppose that every Realtor would like you to believe that selling your home and moving is always a great experience. In most cases that's true. It can be fun and exciting to buy your first home or to move up to a new and bigger home. It might be the American Dream for many people but it isn't always true. In the real world, we find that not everyone is selling their home because they want to. Selling your home is sometimes a decision that is forced upon you by a job change or some rough times in your life. Under these circumstances, preparing your home for sale and having it on the market isn't any fun at all. It can seem unbearable. We will work with you to reduce the stress level as much as possible and we will do everything in our power to try to make the situation easier on you. Just let us know how we can help and we will take it from there. When you feel ready to discuss your real estate needs with a Realtor, you can feel confident that I will focus all of my attention on making your deal work. Buying or selling a home is always a very important and personal decision. I can provide the information and advice that you need to help you sort out the best options for your home. - Peggy Cain

We can help you explore your options.



Before You Can Purchase A New Home
You Need To Know How Much
You Can Afford To Spend.
We can provide current market data
& value your home for Free.
Click On The FREE CMA Button Below.

Offer applies to our service area only.

A CMA is a Comparative Market Analysis or Home Market Valuation based on current market conditions.

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Peggy Cain
Karen Douglas Realty
122 Hamilton Street, Geneva, Illinois 60134



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