Profile picture for gloriatidmore

HOW DO I FIND AND PRINT OUT THE FAIR MARKET VALUE OF MY HOUSE?

  • August 29 2011 - Chandler
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Answers (11)

Profile picture for Emily Schukman
I have completed many CMA's for people to just make things easier with absolutely no strings attached. I tried to find the value of my parent's home in a town where I did not have access to the MLS and finding all that information took entirely too long. If we can do one and it takes all of 5 minutes, I don't see why that hurts. It just depends on the intentions of the real estate agent I guess.

I agree, many realtors use this as a way to "get in the door," but it's unfortunate because the information is very helpful and it will save everyone a lot of time!

"Do you really want a computer to decide the value of your home?

Why wouldn't you want the help of a computer? It's not the computer deciding the value. It's the computer finding the information so WE can evaluate it and decide the value.

I agree, it's hard to find the value unless we see the inside of the home, but if we provide the CMA to consumers, they are able to look up the pictures of the comparable homes and compare their home to the others. This will just make it easier for them to come up with a round figure so they have an idea of what the market is doing!
  • September 01 2011
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Profile picture for blue screen exile
"Do you really want a computer to decide the value of your home?"  -

Oh?  A Realtor® claiming he doesn't use any computers nor any software to do his CMA's and that he does them all completely by hand???


And he is stating that he is 100% accurate at predicting the actual market value on that specific day????

His claims are more extreme than any licensed appraiser that I've ever seen.  And he is offering "free" appraisals that will be accepted in court, by the IRS, and by the lending institution?

I think I better report him to his broker, his local board and the state licensing department, as it appears that he has violated his licensing and is practicing a field without a license.
  • September 01 2011
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Profile picture for Dunes....
Brodie...

So Agents don't use AVM programs "Computers" to do their CMA's"
The same Garbage in Garbage out rule doesn't apply?

and

Please read the Good Neighbor Policy...this isn't Trulia


"Spam, advertising, or self-promotional content is not allowed in Zillow Advice. This includes, but is not limited to, any contact information such as phone numbers, email addresses, or website URLs"
  • September 01 2011
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Profile picture for Bstephensc21
Home values are all unique to each property.  Unfortunately, there is not way to give an accurate value of a home without seeing the home first hand and physically comparing it to other similar properties.  Once that is done an objective approach can be used in making adjustments to your home value. Do you really want a computer to decide the value of your home?  You can get an estimate of your home value on Zillow.  If you want something accurate to your specific home you need to contact a Realtor that is familiar with your area etc...  [phone number deleted by Zillow moderator.  Please refer to good Neighbor Policy for posting guidelines]
  • September 01 2011
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Profile picture for Dunes....
I'll say it again...If Realtors posted the CMA's they do for the Public to see then I think this claim of accuracy would last about 30 seconds..

But they won't for that very reason IMO...
CMA's are mostly a Lead Generation tool...get em in the door

The Market determines the Value so KNOW your Market
If you want something for a Tax dispute ect..get an Appraisal done
  • September 01 2011
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Profile picture for Emily Schukman
Just ask a local real estate agent for a CMA. They will just need your address and an e-mail to send it to!
  • September 01 2011
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Profile picture for blue screen exile
By the way, on that Trulia one, after it opens the home page, you need to click on "comparables", and it averages up to 30 of the recently solds that the machine thinks are similar.

This is not a "CMA" as it doesn't do any adjustments for differences.
  • August 29 2011
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Profile picture for blue screen exile
Here is a partial list of web links for automated machine generated opinions of approximate value:

Zillow.com


Homesand.net

Eppraisal

realquest.com express

cyberhomes.com

trulia

chase

homegain

You just type in the address; click and you can print from there.  (Some require a "print screen" button; Zillow's home details page has a "print" button).

But as mentioned, machine opinions of approximate value are not the "fair market value".  Neither are Realtor® CMA's as they are only estimates also, and if a lender won't fund for that amount, it is not the market value.

If you want to know the market value, the property will need to be sold and a price agreed upon between the buyer and seller.  The next best thing is an Appraisal by a licensed Appraiser.  Most Realtors® are not licensed to do appraisals.

Boycott the National Association of Realtors®.

Join the American Association of Realty Agents instead.
  • August 29 2011
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There are many contributing factors in determining the fair market value of your home.  You should contact a Realtor to show you what homes have been selling for in your immediate area.  Request a CMA which is a competitive market analysis.  It will show you what buyers have paid in today's market.  It will show you the price range and terms for listing a home for sale.  It will also give you days on the market to sell a home.   
  • August 29 2011
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You won't find the fair market value of your house on Zillow. Fair market value is whatever the market will bear. For a more accurate opinion of value, contact a licensed real estate agent familiar with your area for a Comparable Market Analysis (CMA), or hire a licensed Appraiser.
  • August 29 2011
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Hello!  You should contact a Realtor in your area that specializes in listing homes for sale and ask for a CMA. 
  • August 29 2011
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