Figuring out what your home is worth in the current market involves finding comparable properties that have recently sold in your neighborhood in Montgomery County MD. 

How do I find a Property that is Comparable to my Home?

Comparables, or comps, are properties that are similar to yours that have sold recently in your immediate area.  In most cases they are similar sized homes in about the same age range that sold in the last three to six months in your neighborhood.

The square footage of your home is one of the key variables in being able to compare homes.  The Myers Team has access to the tax database, which shows us the home's square footage.  It is normally calculated  for the upper levels and may show a separate amount for the lower level. You can also look up individual addresses in the state's tax system to find your home's square footage.  Another key variable to compare is the lot size.  Contact us at bobmyers4homes@gmail.com if you would like the square footage for homes that have recently sold in your area.

Other variables in determining comps including garage size, upgrades such as gourmet kitchens and updated baths and amenities such as pools and decks.

What About the Montgomery County MD Property Tax Assessment?

Our Team also looks at the property tax assessment to determine if there might be other factors the county has used to determine your home's relative worth.  However, the county's assessment of value is not a substitute for market value.  County assessments do not reflect current market conditions, they just help us compare the value of one home in a neighborhood with another.  You can look up a home's Montgomery County property tax assessment.

Looking at Past Sales of Montgomery County Homes

When looking at the sales price of a recently sold home, you need to net out the seller subsidy that was paid to help the buyer with closing costs.  This subsidy is a common practice in this real estate market in the Montgomery County MD area.