What is Your Home’s Value?

Determining what your property is worth can be a pretty tricky proposition. Traditionally, sellers have tried to get a handle on what their home is worth by looking at appraisal district records, flyers on their neighbor’s homes for sale, and more recently on-line listings MLS listings and real estate portals such as Zillow and Trulia that have on-line valuation models.

Using these methods can give you a “ballpark” estimate of what your home is worth; however, there are many reasons why you shouldn’t rely on these alone for pricing your home for sale.

First of all, appraisal districts do not use the same methods of valuing homes as regular appraisers do. Their job is to assign values to homes based on the tax revenue needed by the taxing authorities. So, their values do not directly correspond with a particular property’s actual value. In addition, the valuation data is only updated once a year.

Utilizing flyers and on-line listings can be misleading as well in most markets. Depending on whether the market is a buyer’s or seller’s market homes can sell for significantly more or less than the advertised price.

Likewise, the online valuation models used by the major real estate portals are not as accurate as they could be. To find out what they say about the accuracy of their own valuation models, click here.  AVM_consumer_handout

To find out what your property may be worth you can use the property tools below.

Better yet….contact us to find out what your home is worth in today’s market.

Request a Comparative Market Analysis below.

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