How much is my house worth?
Everyone always asks the question, how much is my house worth? It’s not a clear cut answer. Absent a real estate transaction, where you’ve found a buyer after listing your house for sale publicly, your home’s value is only going to be an estimate, and within a range. Pricing a home is not like pricing a tablet or smartphone, where a retailer has a lot of inventories to move. If you want to know how much your house is worth, it’s best to call a local real estate agent and get their opinion of value. Realtors will provide a comparable marketing analysis at no cost to you. Agents keep on top of the market by touring homes weekly. They see the changes in the market and understand the intricacies of any one neighborhood or price. If you are going to refinance your home’s loan, the bank will order an appraiser to assess its value. Automated valuation models, like Zillow’s Zestimate, are a great way to gauge the approximate value. But, since these are “automated” and can’t consider the details of your home, they won’t be as precise as a good local agent.