Close

See current mortgage rates on Zillow Mortgage Marketplace

Profile picture for elflauta

Appraisal value

How do I determine the current value of my home for a loan? Will it be for more than the total market value? It seems to be low on my local tax entity.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 11 2011 - Odessa
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (4)

First, look at your Zestimate...

http://www.zillow.com/wikipages/What-is-a-Zestimate/

It may or may not be accurate.

For LOAN purposes, you will get an appraisal which will determine your market value by the bank. Don't confuse market value with your taxes. You will pay for the appraisal, or the bank will. The appraisal may or may not be near the value of your Zestimate, so I wouldnt base much on that.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 11 2011
Profile picture for sunnyview
They won't care about the tax value. The bank will only look at the appraisal for loan purposes.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 11 2011
Profile picture for elflauta
Will the bank be looking at appraised value or market value for the loan?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 11 2011
The tax assessed value is very often lower than the market value and we love that because that's what our taxes are based on.

If you are doing a loan/refinancing, your mortgage lender will be requiring an appraisal and he/she will be ordering that for you.

Naima
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 11 2011
 
Related Questions
what is the max Va loan amount in odessa tx
Profile picture for Kevin Luby
Latest answer by Kevin Luby
April 05 2013 | 3 answers
Questions about my good faith estimate
Profile picture for John Cannata
Latest answer by John Cannata
March 28 2011 | 2 answers
Appraisal value
Profile picture for Vince Curtis
Latest answer by Vince Curtis
March 11 2011 | 4 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 2421 E 21st St, Odessa, TX Home For Sale
    2421 E 21st St, Odessa, TX 79761

     For Sale: $137,500

    • Beds: 3
    • Sqft: 1557
    • Baths: 2.0
    • Lot: 8040
  2. 2506 Hoya Dr, Midland, TX Home For Sale
    2506 Hoya Dr, Midland, TX 79707

     For Sale: $215,000

    • Beds: 3
    • Sqft: 1638
    • Baths: 2.0
    • Lot: 5009
  3. 5101 Esmond Dr, Odessa, TX Home For Sale
    5101 Esmond Dr, Odessa, TX 79762

     For Sale: $230,000

    • Beds: 4
    • Sqft: 2524
    • Baths: 3.0
    • Lot: 7801