In many cases, your home is your most valuable asset. You have paid the mortgage on your home faithfully for years. You would like to know that you will be able to get your money back out when you sell. Knowing the market value of your home can come in handy in a number of situations. Therefore, determining the value of your house is something that you will need to do at some point. The determination of market value is not as simple as picking a number out of the sky. While you might do that when you list your house, it does not mean that is necessarily the market value. To figure out what your house is worth, there are a few methods that you could use.
One of the best resources that you can find when trying to determine the market value of your home is a real estate broker. A real estate broker has tools at their disposal that the normal person does not. They can help you determine the value of your home and they can do it for free. Ask your real estate broker to do a comparative market analysis. Even if they are not officially your agent, they will be happy to do this for you. This is how many real estate agents get to know a potential client and it can be very valuable for you.
A comparative market analysis is a detailed report that will determine the value of your home. With this type of report, the real estate agent pulls data from the last several months in your neighborhood. They will look at all of the home sales in your neighborhood within the last six months and they will compare your house to those that sold. If there are a few comparables, they can get a good idea of what you should offer your house at.
Many times, the houses that you are comparing yours to will be a little different. They might have some features that your home does not have and vice versa. However, it will give you a good per square foot range to use for your evaluation. If you can get within a few dollars, this will be a good guideline for you to go by.
Another method to determine the value of your home is to hire a real estate appraiser. They don t just work for banks. You can hire an appraiser on your own and get a very accurate estimate of the value of your house. They use very detailed methods to arrive at a value for your home. They will typically use a very similar process to the comparative market analysis except it is a little more detailed. They can also arrive at the value of your home in a number of other ways. They can determine how much it would cost to build your house and then deduct for depreciation to confirm their comparative analysis.
Whichever method you use to determine the value of your home, just make sure that you get some professional help if you need it. They can get you an accurate value in a short period of time.
![[Valid RSS feed]](http://www.look4articles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
![[Valid RSS feed]](http://www.look4articles.com/images/rss.jpg "XML Feed For RSS")