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What is my home's real value?

Zillow has my house facts wrong and also there are not very many (any?) good comps. I don't want to sell it but am curious about the value. I could use a realtor but I don't want to set any expectations about using the realtor when I do sell it. Any suggestions?
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August 24 2013 - Ahwatukee Foothills
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Answers (8)

Part of my excellent service I can provide you with is send you a complementary market analysis  which will give you an estimate of what your home is worth in today's market.
Please feel free to reach out. 

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March 27
The best way would be to hire an appraiser for the most accurate valuation or you can use your local real estate professional to do a CMA (comparative market analysis).
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August 26 2013
Zillow is not very accurate but have you tried;

Real Estate Values.us

or

Your local real estate agent for a CMA

or

Hire a appraiser

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August 26 2013
Hire an independent certified appraiser. I do many appraisals for people who are just curious.
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August 25 2013
Generally Zillow, Trulia and other value sites you general parameters to set home values. i.e. within 10% of same sqft, lot size, same year built etc... Because these are automated systems, value is very difficult for them on more unique or minimal like-kind sales.  It is also very difficult for these sites to adjust for quality or condition.    Why are you trying to determine value?  Banks (for a refi or equity loan) are typically going to use closer to an appraised value, which puts almost all of the value on previous sold homes.  A Realtor is typically going to fair-market value, which takes in account both previous sales, and what buyers might be willing to pay for the home. If your home is the only one like it for sale, you might be able to get a high premium for it even though there are minimal comparable sales. Hope this clarifies.  
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August 25 2013
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The only "true value" is "fair market value", which is the value at which the property is sold on an "open market". Everything else, including an appraisal, is an "estimate of value", a person's opinion of what they "think" a house "might" sell for.

An appraisal should be the least biased of estimates, though "least biased" does not automatically impart "accuracy".

A CMA (comparative market analysis) could/should reflect an estimate of value based on the current market trends (i.e., comparable solds). The potential bias in a CMA is if the REA, intentionally or otherwise, cherry picks the comps or overstates the differences in order to appease a potential client (commonly referred to as "buying a listing").

In either case, the estimated value should be based on recent sales of comparable properties, augmented by identification of specific differences between the properties and an estimate of the dollar-value (plus or minus) associated with these differences.

If you choose to obtain a CMA, you should get CMAs from multiple brokerages (not multiple REAs from the same brokerage). Resist the temptation to focus on the bottom-line-value-estimate, and pay more attention to the comps being used and the rationale behind any cost deltas.

Good luck.
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August 25 2013
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No, I don't want to sell it but am curious about the value.

What's the difference between a comp mkt analysis and fair mkt value. Don't they both give me a value?
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August 25 2013
As a Realtor, I can send you over a Comparable Market Analysis of your home.  If you want to know the fair market value of the home, you will want to hire an appraiser to handle this for you.  Are you considering selling the house?
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August 24 2013
 
Related Questions
What is my home's real value?
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Latest answer by Bianca Bennett
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  • Asked by user7144695
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  • August 24 2013
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