An appraisal is a certified appraiser's opinion of the worth of a home at a specified time. The appraisal is based on the building size, the condition of the home and neighborhood, comparable local sales, historical information, and sales trends that predict future value.
A comparative market analysis is an estimate of market value, or the price the house will bring at a specified time. Several factors are used to determine market value including sales of comparable properties, location, building size, and lot size. The market analysis is completed by a real estate agent or broker.
A highest price analysis is a combination of two analyses – a comparative market analysis and a trendgraphics report. A highest price analysis is the best tool to have when pricing your home to be placed on the market. I provide all my clients with a highest price analysis when placing their homes on the market since it is the most definitive tool to price your home to sell.