What’s the difference between an online estimate, a CMA, and an appraisal?
Short answer: An online estimate is a computer model, a CMA is a broker’s pricing analysis, and an appraisal is a licensed appraiser’s opinion of value, usually ordered by a lender.
- Online estimate (automated valuation): Instant and free. It uses public records and recent sales, but it can’t see your remodeled kitchen, your view, a busy street, or deferred maintenance. Use it as a ballpark.
- Comparative market analysis (CMA): Prepared by a real estate broker. It compares your home with recent sales, pending sales, and active competition nearby, adjusted for condition, size, lot, and location. This is what you use to set a list price.
- Appraisal: A licensed appraiser’s formal opinion of value, usually ordered by the buyer’s lender during the sale. It protects the lender and can affect whether a deal closes at the agreed price.
What affects home value in Portland and on the Westside?
Short answer: Location within the neighborhood, condition and updates, lot and layout, and what buyers can choose from right now.
Things that move value locally:
- Micro-location: Being on a quiet street versus a busy one, being near a park or a commercial strip, and which school boundary the home is in. In places like Raleigh Hills, the mailing city may not match the jurisdiction, which can confuse buyers.
- Lot and terrain: Westside hillside lots in Lake Oswego, West Linn, and the West Hills can add views but also bring slope and drainage issues.
- Condition and systems: Roof, windows, heating and cooling, sewer lateral, and electrical updates. Buyers and their inspectors look closely at all of these.
- Layout and size: Bedroom count, a main-floor bedroom, garage and storage, and how well the floor plan works.
- Current competition: How many similar homes are for sale near you, and whether sellers are cutting prices. This changes week to week.
How does Brian Getman price a home?
Short answer: He walks through the home, chooses the closest recent comparable sales, adjusts for real differences, and checks the result against what you’re competing with today.
- Walk-through: Brian sees the condition, updates, and lot in person or by video.
- Comparable sales: He picks recent sales that a buyer would actually cross-shop with your home, not just homes with the same ZIP code.
- Adjustments: He accounts for size, condition, lot, and location differences, and explains each one.
- Market check: He compares your home with active and pending listings and recent price cuts, so the price works in today’s market.
- Appraisal risk: Brian started his career as a mortgage broker, so he also asks whether the price will hold up when the buyer’s lender orders an appraisal.
You get a recommended price range with the reasoning laid out, plus suggestions on which pre-listing fixes are worth the money. For more on timing, read signs that now is the time to sell and remodeling projects that can boost value, or start with deciding to sell.
Home valuation FAQ
Use an online estimate as a starting point, then ask a local broker for a CMA based on recent nearby sales and your home’s actual condition. Brian Getman offers free CMAs. Call 503-628-9665.
They give you a ballpark. They can’t see inside your home, so updates, condition, and things specific to your street can make the real value higher or lower.
A comparative market analysis is a broker’s comparison of your home with recent sales, pending sales, and active listings nearby. It’s used to set a list price.
No. An appraisal is a licensed appraiser’s formal opinion, usually ordered by the buyer’s lender. A CMA is a broker’s pricing analysis for listing or making an offer.
Yes. The online estimate and a CMA from Brian are both free, and there’s no obligation to list.
Market conditions can change from week to week. If you’re planning to sell within a few months, update the CMA right before you list.
Yes. Brian works across the Westside metro, including Lake Oswego, Beaverton, West Linn, and Raleigh Hills.
Want a CMA instead of a ballpark? Call Brian Getman at 503-628-9665, email [email protected], or send a message.