How Much Is Your Home Worth? How to Determine your Home's Value
When listing your house for sale, setting the right list price of a home can be difficult. There are a number of factors used to assist in pricing a home and to determine your home value. Home prices and market value for a home can vary by location and condition of the home. The number of homes on the market will also affect the list price of a home. Gaining access to your local MLS (Multiple Listing Service) can help you research homes for sale in your neighborhood. A local realtor can also provide you with updates on the local housing market including home prices in your area. Current houses for sale, property for sale that is under contract, and past home sales should be accounted for when determining your homes worth. Without proper research it may be difficult to estimate the value of your home.
Thanks to the internet, determining your property value has become much easier. Websites can help you find home sale prices by providing you with home values plotted on a map. Below are a few popular sites that can provide detailed information on the real estate market:
Zillow.com - provides free real estate information. Search homes for sale, home prices, home values, recently sold homes, mortgage rates, and more.
Using these tools to determine you home value may not account for additional features or upgrades to the property. When comparing your home to other homes for sale take into consideration details such as crown molding, age of roof, grade/slope of lot, traffic on street and even the houses directly next to yours. Enlisting the help of a local real estate agent will eliminate any surprises as to what a buyer may expect when viewing or more importantly considering your home
It is not mystery that buyers will compare your home to other homes on the market. Your local multiple listing service, MLS, will offer the most up to date information on properties for sale. Search MLS Listings Access to this information will give you a leg up on your housing competition.