TTC_05_29_19_Vol.15-No.31.p1-12

Community Connections
May 29 - June 4, 2019 www.TheTownCommon.com Page 7
For
Sale
Town Common
35 Johnson Street Newburyport, MA 6 room, 2 bed, 1f 0h bath Ranch 22 $399,999 $425,000 $399,999
Value, Enjoyment And Savings
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Business Spotlight
Real Estate • For Sale
Appraisal vs. Market Value
Sports • Sports • Sports
By John McCarthy, Rowley Realty
With the spring market in me. The appraiser will come to number of bathrooms, etc.
full swing we have received Pets, a your house and Animals, list the number These sales Plus should be within the
number of calls over the last few and size of the rooms and any last year and a good sampling is
months from prospective sellers extras, such as a hardwood typically more than 3. If you
asking us to give them an idea Health as floors, granite countertops & Fitness
and can’t find more than 3 in the
to the worth of their home. The
“market analysis” we perform
is an estimate of market value
based on recent sales of similar
homes in the area. We are often
asked how this differs from a
town assessment or a mortgage
appraisal. Often sellers will
reference a recent mortgage
appraisal or town assessment
that gives a different value of
their home. The common
question to a REALTOR® is
then “why is your value of my
home different?”
In the simplest of terms, a
home’s “market value” is based
on the amount of money the
market, i.e. a buyer, is willing
to pay for property. Simply
put the value is what a buyer
and seller will agree on for a
price. The “appraised” value
is the value of the property
determined by a bank or
mortgage company.
Sometimes, especially in an
active sellers’ market like the
one we are in now, the value of
a home will be even higher than
the appraised value or what your
REALTOR® has determined as
the “market value”. Here are
the major differences between
what an appraised value and
market value:
Appraised Value:
An appraisal is an estimate
of market value. An appraiser
can use many methods for
coming up with this estimate.
An appraiser is a professional
hired by the bank or mortgage
company who can tell you what
your home is worth but not
necessarily what it will sell for.
Tricky I know, but bear with
finished basements or attics.
The appraiser will compare
your home and property to
other homes that have sold
recently with similar features.
The main way that it differs
from a REALTOR® Market
Analysis is that an appraiser is
hired by a bank or mortgage
company to make sure that the
buyer is purchasing a property
that is worth at least the value
of their loan. Appraisers usually
use “comparable sales” when
evaluating the market value of
a home. In an appraisal that is
done by a bank for a buyer who
has the home under agreement,
the appraisal certifies to the
bank and secondary mortgage
investors that the buyer is
paying fair or less than fair
market value for a home.
Appraisers look at nearby
properties with similar
characteristics which have sold
in the past 6 months to see at
what price they sold and they
typically give the most weight
to the property they feel is
most like the property being
appraised.
Comparative Market
Analysis (CMA)
A CMA is done by
REALTORS® to establish the
most likely selling price for
a property. To do this they
look at the most recent sales
of homes similar to yours in
your community. Ideally your
neighbor’s home is the exact
same style as yours and sold
yesterday. Since this is rarely
the case, they compare it to
homes with the same number
of bedrooms, living area, land,
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same town, then looking in the
surrounding towns is preferable.
A REALTOR® that works and
has success in your area can
give you a good idea as to what
your home will be worth on the
open market. They may know
of homes that sold privately or
of good or bad quirks, (flooded
basement, seller was transferred
out of town and had to move
immediately) not mentioned in
MLS, etc.
Appraised value does not
always equal the true market
value or more specifically
what the home will sell for on
the open market. Talk with a
REALTOR® who knows the
area well and has a history of
success in real estate sales in
your area.
If you have any questions about
this article, real estate in general
or are looking to buy or sell a
home please contact me, John
McCarthy at Rowley Realty, 165
Main St., Rowley, MA 01969,
Phone: 978 948-2758, Cell 978
835-2573 or via email at john@
rowleyrealestate.com
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Address, Town Description DOM List Price Sold For Orig Price
18 Summit Ave Amesbury, MA 7 room, 3 bed, 1f 1h bath Colonial 43 $345,000 $345,000 $345,000
229 Northern Blvd, P.I., Newburyport 4 room, 2 bed, 1f 0h bath Ranch 11 $350,000 $360,000 $350,000
276 School St Groveland, MA 8 room, 3 bed, 1f 0h bath Ranch 21 $389,900 $377,500 $389,900
85 Lake Attitash Rd Amesbury, MA 7 room, ROWLEY: 3 bed, 2f Luxury 1h bath condo Colonial at 32 Rowley Country $424,900 Club. This $436,000 former model $424,900 unit has
15 Ross Rd Topsfield, MA 6 room, lots 3 bed, of upgrades. 2f 0h bath Cape First floor 89 master bedroom $429,900 suite, hardwood $415,000 floors, $429,900 cathedral
19 Amesbury St Amesbury, MA 6 room, 3 bed, 2f 1h bath Colonial 21 $439,000 $452,000 $439,000
128 Leslie Rd Rowley, MA 6 room, ceiling 3 bed, 2f living 0h bath room Cape with gas 32 fireplace, $469,900 granite & stainless $475,000 kitchen with $469,900 island,
120 North St Georgetown, MA 8 room, upgraded 4 bed, 3f 0h cabinetry, bath Colonial transom 55 windows $469,900 and a dining room $475,000 with a trey $479,900 ceiling.
309 High Rd. Newbury, MA 6 room, 9’ 3 ceilings bed, 2f 0h downstairs. bath Ranch Beautiful 33 private $489,777 deck. Large $482,388 loft with second $499,777 living
477 Main St West Newbury, MA 6 room, room 3 bed, and 1f 1h 2nd bath bedroom Other with 19 this 2nd $499,900 level overlooking $494,900 the great room. $499,900 There
4 Smith St Newbury, MA: Plum Isl 5 room, 2 bed, 2f 0h bath Cape 17 $500,000 $500,000 $500,000
11 Pingree Farm Rd Georgetown 9 room, is 4 a bed, full 2f basement 1h bath Cape and so much 16 more. $528,000 All set on a beautiful $545,000 golf course $528,000 setting.
12 Christopher St Newburyport 7 room, $689,900. 3 bed, 1f 0h Call bath Ranch Rowley Realty 21 at 978 $549,900 948-2758 or John $549,900 McCarthy on $549,900 his cell;
69 Rabbit Road Salisbury, MA 7 room, 978 4 bed, 835-2573, 3f 0h bath or Colonial email at john@rowleyrealestate.com 18 $549,900 $540,000 for more information. $549,900
14 Wood Hill Lane Boxford, MA 8 room, 3 bed, 2f 1h bath Multi-Level 23 $569,000 $560,000 $569,000
4 Chestnut St Ipswich, MA 9 room, 4 bed, 3f 1h bath Colonial 29 $619,000 $609,000 $619,000
258 Ipswich Rd E. Boxford, MA 10 room, 4 bed, 2f 1h bath Colonial 19 $679,900 $680,000 $679,900
7 Maudsley View Ln Amesbury 9 room, 4 bed, 2f 1h bath Colonial 22 $699,000 $690,000 $699,000
400 Central St Georgetown, MA 17 room, 4 bed, 3f 1h bath Colonial 125 $674,900 $665,000 $699,900
3 Point Shore Overlook Amesbury 8 room, 4 bed, 3f 1h bath Colonial 99 $739,900 $739,900 $739,900
16 Regwill Ave Wenham, MA 9 room, 4 bed, 3f 0h bath Cape 191 $775,000 $757,500 $819,900
11 Jewett Hill Road Ipswich, MA 9 room, 3 bed, 2f 1h bath Cape 175 $779,000 $718,000 $849,000
3 Amberwood Ln E. Boxford, MA 10 room, 4 bed, 4f 1h bath Cape 135 $799,000 $799,000 $875,000
5 Bourbeau Ter Newburyport, MA 9 room, 4 bed, 2f 1h bath Colonial 22 $899,900 $880,000 $899,900
231 High St Newburyport, MA 10 room, 5 bed, 4f 2h bath Colonial 19 $915,000 $925,000 $915,000
9 Parsons St Newburyport: Joppa 9 room, 4 bed, 4f 0h bath Antique 68 $989,900 $983,000 $1,150,000
67 Perkins Row Topsfield, MA 10 room, 4 bed, 2f 1h bath Colonial 19 $1,199,900 $1,175,000 $1,199,900
16 Plummer Ave Newburyport 8 room, 3 bed, 2f 1h bath Colonial 145 $1,175,000 $1,112,500 $1,295,000
10 Woodland Street Newburyport 10 room, 4 bed, 4f 0h bath Shingle 18 $1,350,000 $1,350,000 $1,350,000
9 Woodsom Dr Amesbury, MA 14 room, 5 bed, 3f 1h bath Greek Rev. 229 $1,299,900 $1,235,000 $1,399,900
47B Dana Road Boxford, MA 13 room, 5 bed, 5f 1h bath Colonial 149 $1,895,000 $1,625,000 $1,895,000
Single Family Listings: 32 Avg. Liv.Area SqFt: 2,793.28 Avg. List$: $715,477 Avg. List$/SqFt: $276 Avg. DOM: 60.53
Avg. DTO: 44.53 Avg. Sale$: $699,268 Avg. Sale$/SqFt: $273 2019 MLS Property Information Network, Inc.