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WHAT IS MY HOME WORTH
If you are considering selling your home, you may want to ask yourself the following questions: What is the value of my house? How much can I sell it for?

In most areas of the country the price of homes have been appreciating over the last several years. Now may be the time to cash in and sell yours. However, you must first determine how much your house is actually worth.

 

Americans have long measured real estate as a spectator activity, but with the manner in which home prices have been increasing over the past five years, the game has gotten a lot more significant. But what is the actual value of your home? There is a strong chance that it may be more or less than you think.

Getting an Estimate Online
The price of property has been growing at double digit levels in some city and suburban neighborhoods, it's simple to look at what price your neighbor sold his house for and calculate what your paper profits would be. However, that is not enough for most homeowners, who want to determine the bona fide numbers from the convenience of their own computers and the Internet.

To compute your home's value, begin your search at the website Domania. Type in an address and the website will spit back what it thinks your property is worth. A great aspect about this site is that the property value search is free of charge. However, the website does not have complete data for all neighborhoods, so for some properties, nothing will turn up.

This year, Equifax, one of the major credit reporting bureaus launched a home valuator product. They provide a range of possible values for your home by using home sales data from secondary mortgage market lender Freddie Mac. In addition useful information like the property's current tax bill, square footage, and some amenities. The home valuator costs $5.95 for each address that you look-up. However, when StarLoanServices.com tried it out, we found that it missed the real sale sales price by more than $200,000!

The problem with this service is that it does not take in all of the aspects of your house. They are simply providing you with a broad market value for your home without considering the character of your house. Meaning, the work that you have done to upgrade your home and anything that makes your house unique from others in the neighborhood.

 

Comparative Marketing Analysis from Real Estate Agents
Getting a precise value for your home online it likely going to be hit or miss. A good idea would be to invite three or four local real estate agents into your house to do a comparative marketing analysis.

They will be looking at all the aspects of your house. They will provide you with comparable sales in your neighborhood, compare them and provide you with a reasonable estimation of the price of what they think the public will be willing to pay for your home.

Not only are your local agents going to be the most accurate source of information on what your property is worth, the comparative marketing analysis that they will provide you is going to be free.


 

        

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