Question 1

What is a home evaluation and how is it different from an appraisal?

Accepted Answer

A home evaluation (also called a comparative market analysis or CMA) is a professional assessment of your home's likely sale price in the current market, based on recent sales of comparable properties. It is provided free of charge by a REALTOR® and is designed to help you understand market value. An appraisal, on the other hand, is a formal valuation conducted by a certified appraiser, typically required by a lender during a mortgage application. Appraisals follow strict guidelines and carry a fee, while a CMA is faster, more conversational, and tailored to your selling timeline and goals.

Question 2

Is a home evaluation free?

Accepted Answer

Yes. Jay offers free home evaluations with no obligation and no pressure. The goal is to give you honest, useful information so you can make informed decisions about your property, whether you are planning to sell soon or simply curious about your home's current value.

Question 3

How accurate is a home evaluation?

Accepted Answer

A well-prepared CMA is typically accurate within a narrow range when conditions are stable. The key is using truly comparable sales, including similar size, condition, location, and features, that have sold recently. Jay uses ITSO MLS data for Niagara and applies market-specific context that no automated algorithm can replicate.

Question 4

How long does a home evaluation take?

Accepted Answer

Jay will typically schedule a brief walk-through of your home (30-45 minutes), then prepare the full CMA report within 24-48 hours. He will then walk you through the results and answer your questions. The entire process from first contact to receiving your evaluation is usually 2-3 days.

Question 5

What factors most affect my home's value in Niagara?

Accepted Answer

The biggest factors are: location (neighbourhood, proximity to schools, transit, amenities), size (square footage, lot size), condition (updates, maintenance, age of major systems), and current market conditions (buyer demand, interest rates, inventory levels). Features like finished basements, garages, and updated kitchens add meaningful value. The single biggest variable is what comparable homes in your specific area have actually sold for recently.

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