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How to Determine the True Value of Your Home

Written by Posted On Tuesday, 19 May 2015 12:07

Finding your home’s current market value

For the majority of people purchasing a home can be one of the most expensive and significant events of a lifetime. A home’s market value can fluctuate up and down constantly and is always influenced by outside sources and factors. A few of the major things that get taken into consideration are, insurance premiums, property taxes, financing, location, and condition. Like anyone who has made an important personal investment, you’ll want to keep up on its current worth. Two of the easiest and commonly utilized resources to obtain information on your home’s value are online websites like Zillow.com, Trulia.com, and Realtor.com. The other way to collect the most accurate data on your home’s value is to research the selling price of similar home’s in your neighborhood and gauge your findings against your own property.

What to keep in mind when utilizing the webproperty-value

The world wide web is probably one of the most reliable and frequently used tools to determine home valuation today. The reputable sites that people rely upon generate there estimates by using a wide range of factors. They are free to use and promote extremely user friendly platforms. The one thing to remember when compiling information that will help you determine your home’s real current market value is, they do not take into account the properties current condition. The sites do attempt to provide the most up to date data, although it should only be used as a base to work from and not the actual figure of value.

Doing your own research

One of the best ways to achieve reaching the most accurate figure for the value of your home is to average out the results you obtained through the websites you used and set them aside. Now it’s time to perform a little footwork of your own. It should take about a day’s worth of focused attention to do. Through public records, find all of the homes in your area that have sold in the last year. Out of those, select only those that are most similar to your own home. Then jot down what the selling price was on those homes and after averaging this out, it should give you a fairly close idea of your own home’s current value. When all else fails, you can always seek out the assistance of a professional service to do the work for you, or to get further information to help you on your way.

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Brett Mosello

Luxury Mortgage Corp® is a private mortgage firm that has been providing homeowners a range of residential mortgage products since 1996. Our success is a result of providing one of the widest range of programs, some of the most competitive pricing and an experienced staff to deliver a new standard of luxury service in mortgage lending. With our corporate office located in Stamford, Connecticut, and branch locations throughout the country, our goal is to be accessible, attentive and prepared with a great team that actually likes this stuff (so you don't have to).

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