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how much is my house worth?

  • April 05 2011 - Baltimore
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Answers (6)

Hello~
Realistically speaking, your home is worth what a buyer is willing to pay for a home like yours.  Factors that affect the price of your home would include it's location & condition.  If you're considering putting your home on the market, you'll want to meet with a local REALTOR.  They will prepare a CMA or Comparative Market Analysis to determine your home's value based on recent sales & other homes that are currently on the market or that are under contract. 
I hope this information helps you!  Please let me know if you should have any additional comments, questions, or concerns.
Best,
Janel Burroughs
  • April 08 2011
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A very simplistic answer is that your home is worth what someone will pay for it.  If you have no idea what it might be worth, talk with a Realtor who is active in your neighborhood. 
  • April 06 2011
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Hi Swiflee!

If you are considering selling your home, your best bet is to consult with a licensed real estate agent, who can run a "Competitive Market Analysis" of your neighborhood and surrounding homes, and then compare those houses to yours.

Statistics and data on sites like these do not take into consideration condition, and have often been off very greatly.

Please let me know if I can help you further.

Good luck!

Sincerely,
Marney Kirk
Keller Williams Excellence Realty
  • April 05 2011
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The best way to find out how much your home is worth is to have a real estate agent do a Comparable Market Analysis (CMA) in your area. This report will pull comparables that show how much homes sold for in the last 6 months. The CMA should have properties that are similar to yours. Real estate agents usaully do these for free, and this is a very important report to help determine the listing price of a property, and the offer made on a property.
  • April 05 2011
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Your real estate agent (or an agent of your choosing) needs to perform a Competitive Market Analysis (CMA).

The agent examines your home's style, square footage, number of bathrooms, location, etc.  This can be done over the phone or in person.  Of course, if the real estate agent actually comes to your house, you are probably more likely to get an accurate assessment of your home's worth.  Next, the agent looks at recent sales in your area of similar homes.  The agent can also look at all of the homes in your neighborhood that have recently sold or that were listed and did not sell.  Using these comparisons, the real estate agent determines what the value of your home is.

The real estate agent needs to be sure to be as current as possible with the recent sales.  Home prices can appreciate quickly, so depending on the market, even a sale just a year ago can be outdated.  If the comparisons are kept within just a few weeks, it gives a more accurate idea of your home's worth.
  • April 05 2011
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Homes are worth what a buyer will pay for it.  That being said it is important to check with a local reliable Real Estate agent who is familiar with your area if you are looking for a rough idea as to your homes value.  Where I live for the past year or so homes are selling within 10% of a homes tax assessed value.  Other factors to take into consideration are the condition of your home compared to the condition of your competition. (the homes buyers will be looking at when considering which to purchase) Inventory and absorbtion rate also play a role in determining your homes value when needing to price and sell within a set amount of time.
  • April 05 2011
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