How to Estimate Your Homes Value

Estimating your home's value is something that a lot of people need to do to fill out credit applications or listing their home for sale. There are a number of ways to determine home value and some of them are free. Here are a few things that you can do to estimate your house value. 

Comparative Market Analysis

One of the easiest ways to estimate the value of your home is to have a free comparative market analysis done. Real estate agents can provide a free service for you. They will be more than happy to offer you one because it is an opportunity to sell their services to you and show you how much money you could make on the sale of your house. For you, it is a detailed report on the value of your house that you get to keep. The report will go over recent sales in the neighborhood, other home listings, and much more information in an easy to read format. 

Real estate agents have access to a vast amount of information that the average person does not. They can pull up information about every home sold in the last several years. They also have access to all of the houses that are currently for sale. With this information, they can assess exactly what they could sell your house for. In many cases, if the agent has some experience, they can tell you within a very close range what your house would sell for today. This is often the best way to determine value and it's completely free to you.

Online Appraisals

While it might not be as scientific as the first method, there are a number of websites that will actually tell you what the value of your home is. The internet has all of the information that is necessary to get a good idea of your home's value. They will base it on what other homes in the neighborhood have sold for recently. Some of them will give you a detailed report for a small fee. Others are free and you simply get a price back from them. All that is usually required is your address and it will give you a value on the spot. 

Appraisers

The most accurate and thorough method of determining value is a real estate appraiser. Whenever you buy a home or lend against one a real estate appraiser is called in to determine value. While this method is the most expensive, it is also the most accurate. Real estate appraisers are licensed with the state and their work is certified and bonded. They also have vast knowledge and experience that can help determine the value of even the most complex home.

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