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Answers (9)
- Joanne Lambert, "Joanne Lambert"
- Contributions:4
It may seem very confusing with our ever changing market. The best way is to get a local realtor to complete a market analysis. The realtor will visit the competition and have a handle on the buyers perspective. You didnot say if you were selling or refinancing or just curious. If refinancing the lender will assign an appraiser to complete a value price. If you have any information on other homes in neighborhood appraisers do appreciate your assistance.
- Deborah Edmondson, "user3497836"
- Contributions:4
Have your home appraised. Review your property taxes and see what the assessed value is. Also, ask your listing agent to perform a Comparative Market Analysis. Comparing the two reports will assist you in determining the value.
- Sharon Lewis, "Sharon Lewis"
- Contributions:3917
A Realtor can do a comparative market analysis for you , for free....or you can hire an appraiser. Make sure the appraiser is local or he/she may not understand the local market and not appraise correctly. Best of luck to you.
- Appraisal guy
- Contributions:120
An appraisal will keep a Realtor honest. But you are correct. Sometimes, I can appraise a home and find out that it was worth less than what I appraised it for or more than I appraised it for. This is caused by 100's of other items that are not reviewed in the appraisal that will make up a buying decision.
- Reid Wyly, "Reid Wyly"
- Contributions:21
An appraisal is just an opinion of value. It does not mean that the house will sell for the appraised value. It may sell for more or less.
When the buyer goes to purchase your home, an appraisal will be ordered from the lender. This appraisal is only to guarantee the lender that the home is worth at least as much as the buyers contract is for.
Determining what your home is actually worth is driven by the market. Have an experienced Realtor look at your home and compare it to similar properties that have sold, and that are currently active in your area. Pay attention to time on market and what your competition is before pricing your home. There is only one opening day of the play! So price it right the first time.
When the buyer goes to purchase your home, an appraisal will be ordered from the lender. This appraisal is only to guarantee the lender that the home is worth at least as much as the buyers contract is for.
Determining what your home is actually worth is driven by the market. Have an experienced Realtor look at your home and compare it to similar properties that have sold, and that are currently active in your area. Pay attention to time on market and what your competition is before pricing your home. There is only one opening day of the play! So price it right the first time.
- Bob Miller, "Bob_Miller"
- Contributions:66
Most Realtors will be happy to provide you with a Comparative Market Analysis at no charge!
- Cheryl Talbot Real Estate, "Virginia Beach Homes"
- Contributions:674
You can always get an appraisal but I would suggest looking to what the market has done in your area. You can see the values by what homes in and around you have sold for. Now if you aren't sure how to get this data, try talking to a Realtor in your region. They can assist you there. Thanks
- Helen Edwards, "Helen Edwards"
- Contributions:478
Realtors can help with price estimation and won't cost you a thing.
They are hoping to get the listing and hopefully the agent you choose to do a COMP MARKET ANALYSIS (CMA) you've already thought about using.
Appraisers are fine, of course, but charge. They are using basically the same data agents are that is found in the local MLS. The on the markets and solds will give them info needed. They will plug in the similarities in footage and improvements.
They are hoping to get the listing and hopefully the agent you choose to do a COMP MARKET ANALYSIS (CMA) you've already thought about using.
Appraisers are fine, of course, but charge. They are using basically the same data agents are that is found in the local MLS. The on the markets and solds will give them info needed. They will plug in the similarities in footage and improvements.
- Margie Casey, "Margie.Casey"
- Contributions:4
Hi Sherri,
If you are considering selling, hire an independent appraiser first. The cost is about $350. They will share with you what counts and what doesn't with Lenders. This will help you price your home better, before you talk with a Realtor.
Warmly,
Margie Casey
Founder
[websited deleted by Zillow moderator. Please see our Good Neighbor Policy.]
If you are considering selling, hire an independent appraiser first. The cost is about $350. They will share with you what counts and what doesn't with Lenders. This will help you price your home better, before you talk with a Realtor.
Warmly,
Margie Casey
Founder
[websited deleted by Zillow moderator. Please see our Good Neighbor Policy.]
How can I determine the value of my home today? Many recent improvements made.
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