How To Differentiate The 3 Values Attached To Your Home

 Tanya LaRose  0comments  01.06.2018

  1. Comparable Market Analysis

Source: REALTOR®

Description: The current fair market value of your home. It is a detailed report that compares your home to similar homes based on several different factors including age, location, size, condition, amenities, etc.. The CMA also takes into consideration active, expired, and sold listings. It is then interpreted by your REALTOR® into a price range, often with a marketing plan to support higher or lower pricing.

Use: In preparations to put your home on the market for a successful sale. It can also be used as a benchmark when planning to raise home equity.


  1. Property Assessment Value

Source: The City Of Saskatoon

Description: A mass assessment completed every four years that is based on property characteristics The City has on file such as, permits, maps, land titles, and sales data. The exact formula is calculated for tax determination only and is not a reflection of what the property would sell for.

Use: To allow the city to configure each properties annual taxes and equitably distribute the tax load. Furthermore, it is used to budget and distribute funds to the city, library, and school boards as needed to operate.


  1. Appraisal

Source: Appraiser

Description: An inspection and report often utilizing three different approaches in factoring value.

  1. The cost approach which identifies current building costs, labour rates, and material prices to determine how much it would cost to build this house today.
  2. The income approach which forecasts the amount of income the property will produce in the foreseeable future.
  3. The sales comparison which considers other similar properties that have sold, neighborhood statistics, etc..

Use: Your lender may require an appraisal prior to approving a mortgage in order to verify the collateral for the loan. Other scenarios may also include asset division during a divorce, to pursue a reassessment of property taxes, or during estate planning.

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