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how do i find out how much a home is worth

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April 17 2013 - Pontiac
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If you are wondering how much your own home is worth, and you've already had an agent or two do a Current Market Analysis for you, you've told them all the updates you've put into your home, and you still aren't comfortable with what they've come up with, based on the current market, you could always have your home professionally appraised. However, there are still no guarantees that your appraisal won't render unsatisfactory results, in your opinion.
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April 18 2013
Realtors know the value of the market, existing homes and new homes are different products, Realtors also know that.

If you want to know the value of a home, click "Find a Pro" tab at the top, type in your zip code and call the agents on the first page and ask for a CMA.

Best of Luck
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April 18 2013
Profile picture for user20062236
This is my 2 pennies......I don't understand why every one keeps saying contact realtors and ask them. I think its a scam, What if all the realtors come to an agreement that they are going to raise the values of houses by telling everyone that their house is worth more than it is really worth. I think if you should contact builders and ask how much would you charge me to build the the same house new and then lower the price due to degrading of the wood, concrete block, roof shingles, etc. How is a realtor going to know the value of a house?? Are they an appraiser, or do they know anything about building construction or even the cost of a sheet of ply wood??
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April 18 2013
I would suggest contacting 2-3 local realtors and asking for a CMA (comparitive Market Analysis). Most will do this for free. They will need to know general information about your house ie. if you have any updates, new roof / new furnace etc. and the gerenal size and ammenities of your home. From there, we run a seach of the area and see what similar homes sold for to arrive at the approximate value of your home.
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April 18 2013
The value of your home will fluctuate with the trends in your local market.  As a seller, you should talk with a few Realtors who know the area you are living in well.  A quality Realtor will support their opinion of home value with facts regarding your local real estate market.  They will do a Comparative Market Analysis for free and identify the ways they would market your property.  Your gut feelling of the Realtor can be very helpful when determining who to deal with and what to list your property for.  The true value of your house will be determined when a buyers opinion and sellers opinion of value overlap.
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April 17 2013
In the final analysis, your home is worth whatever someone will pay for it.  The key to maximizing value is proper pricing and marketing.  Your broker should prepare a Comparative Market Analysis for you showing how your home compares to similar homes in your neighborhood that recently sold, those that are pending sale and those that are currently on the market.  As has been said by others, this value determination is nothing more than an opinion.  Buyers will tell you what it is worth to them.  Find out how brokers you interview will market your property.  Signs, internet exposure, advertising, Open Houses are all options for you.  What is the broker's track record in listing homes in your neighborhood?  What are you willing to do to your home to maximize its attractiveness to a wide variety of buyers? You have only one chance to make a first impression.  Do it right!
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April 17 2013
Simply hire a dis-interested party - an appraiser.

Here is a link to find any currently licensed appraiser in the country...
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April 17 2013

Ask an agent for a Comparative Market Analysis, they are free.

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April 17 2013
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What better way to make a sale as a listing agent than with a property at a steal of a price?

Sorry, but getting pricing advice from someone who has a stake in the transaction is foolish IMO.

A seller should do their own due diligence.
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April 17 2013
My experiences with interviewing agents is if you were to ask them if your home is worth 250,000 or 210,000 they tell you the lower number.

My experience is that they will always give a HIGHER value - to 'get' the listing..... why would you list with an agent who thinks your home is worth less than more ?
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April 17 2013
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My experiences with interviewing agents is if you were to ask them if your home is worth 250,000 or 210,000 they tell you the lower number. Realtors earn the same commission if they show the house 50 times, or 2 times.
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April 17 2013
You can pay for an appraisal or call and interview some agents.  
Just remember that an appraisal and the advice of a Realtor is only an opinion.  

An agent can give you a CMA (Comparative Market Analysis) and should be free of charge.
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April 17 2013
 
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