How Much is My House Worth?

In a fluctuating mortgage and residential real estate environment, it can be difficult to determine the true cost of your home. Unless you have vast real estate experience, seeking avenues of assessing the true value of your most precious investment can be confusing. Hence, here are important tips for getting your true home real estate value.

How Much is My House Worth

  1. Find a Real Estate Agent

I would talk to at least three real estate agents to get a good estimate of your home’s worth before placing it on the market.
Don’t be amazed if you get three different estimates. Use your best judgment to see which estimate is the best.

  1. Get exIndependent Real Estate Appraiser

An experienced property appraiser who is independent can provide an educated estimate on the value of your home. Call several independent appraisers in town and ask them of their cost of an appraisal and experience. Choose an appraiser that best meets your needs and budget.

When you are seeking on the value of your home, usually you are looking to sell to upgrade or even downgrade your current home. Often in doing so there are unforeseen costs and fees. This can mean more out of pocket expenses than you were hoping to have to cover. Because of  this, your real estate agent or mortgage lender my suggest selling your annuity to their firm, or to someone they are in contact with. Be careful as the process is very complicated and you could end up with far less money that you deserved. Don’t take chances. Get your complete analysis from Washington Accord before selling your annuity payments to a third party.

  1. Evaluate Comparable Homes

You can also look at comparable home sales in your neighborhood. It is important to evaluate homes similar to yours for an ideal comparison of value.

  1. Search the World Wide Web

The popularity of the World Wide Web has revolutionized the mortgage loan and real estate market. Thus, you can find a lot of information relating to anything real estate. There are many internet real estate websites to check prices of homes in your area. These websites are a good resource for the average user, no previous real estate experience is necessary.

  1. Investigate Adjustments in Area Prices

Housing pricing data is available from credible sources, such as the Case-Shiller index, the Office of Federal Housing Enterprise Oversight, and the National Association of Realtors. The home prices are in broad strokes, but you can get a rough estimate of home price changes in your area.

On the other hand, you can get local area pricing information from the Multiple Listing Service (MLS), accessible through your real estate agent. Also, you go to your county’s property appraiser’s office and get detailed home sales information of comparable homes in your neighborhood.

Resources:

https://www.washingtonaccord.org/annuities/