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Home valuations give you valuable knowledge that can help you plan for the future and make smart decisions. It’s good practice to stay informed about how much equity you have in your home and how much you may be able to borrow against it or sell it for.
Our tool provides a more robust, accurate assessment than you’ll get from the major real estate portals. However, for the most precise valuation you should have your agent prepare a customized Comparative Market Analysis or seek an appraisal from a licensed appraiser.
A home valuation estimates the current market value of your property. For sellers, it’s essential to set a smart list price, avoid leaving money on the table, and prevent overpricing that stalls showings. A solid valuation aligns with appraisal results, reduces renegotiation risk, and speeds time-to-offer. It informs marketing, optimal timing, and upgrades—giving you the confidence to launch and negotiate from a position of strength.
Three Ways to Perform Home Valuations
Online Valuation
Our instant home valuations, and other platforms, use automated valuation models that crunch public records, recent nearby sales, listing data, and basic property details to predict a price. They’re fast and consistent because they’re formula-driven. An Instant Home Valuation is a quick ballpark, not a blueprint. It is useful for setting expectations and tracking trends but should always be verified with a professional analysis before you price, negotiate, or plan upgrades.
MARKET ANALYSIS
Online home valuation estimates are a useful starting point, but they can miss the story behind the numbers. We provide a Comparative Market Analysis (CMA), in which we hand-select comparable properties and consider renovations, property condition, lot nuances, views and floor plan in the valuation. We also take into account recent market patterns that are often missed by online valuation tools. For pricing that you can defend with buyers and appraisers, request an on-site CMA that reflects your home’s real market position.
APPRAISALS
An appraisal is an unbiased valuation of a home based on a professional’s opinion. They are usually what mortgage companies use for home purchases and refinances. A lender usually orders a home appraisal and
most appraisals average $500 in Massachusetts, but may vary, and is usually paid for by the buyer. An appraiser does a complete visual inspection of the interior and exterior of the home as well as taking into consideration recent sales of similar properties and market trends. The appraiser then compiles a detailed report on the home, including an exterior building sketch, a street map showing the home and any comparable sales, photos of the home and street, an explanation of how the square footage was calculated, and any other relevant information.
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Situations When a Home Valuation May Be Necessary
REFINANCING
Lenders base the amount of their loans on the value of your property and usually allow you to borrow a maximum of 75% to 96.5% against your property. Knowing what your home is worth allows lenders to calculate your equity in the home. The more equity you have, the better terms you will receive on your refinance.
HOME IMPROVEMENTS
If you’re doing home improvement projects to increase the resale value, you want to make sure you’re not pricing it out of the market. If your home is already priced on the high-end for your neighborhood, making too many improvements could make it more difficult to sell. When you get a valuation, you can see how your home compares with others in the neighborhood and let this guide your home improvement decisions.
QUALIFYING FOR CREDIT
If you want to borrow cash against your home, getting a Home Equity Line of Credit (HELOC) could be a good option. To qualify, you must have a certain level of equity in your home. Most lenders require at least 20%. Getting a home valuation will help you determine if you qualify and will be used by the lender to make a decision on your loan.
PLANNING
Though it’s not a necessity, simply knowing the value of your home is good information to have. It will help you plan for the future and deal with unforeseen circumstances when you might be in a position that requires extra money or a quick relocation. Knowing how much equity you have in your home and how much you may be able to borrow against it or sell it for will help you respond to any financial curveballs that life throws at you.