What is my house worth?
"How much is my house worth?" Is there an easy way to figure it out?
There are several ways to go about determining how much your house is worth. Here are two of the easiest.
1) Have your home appraised by a professional real estate appraiser. This is the most expensive option, but is ultimately the best one, as you can take it to the bank for refinancing, and/or helping a seller to get a loan to buy it. An appraiser will do a Comparable Market Analysis (CMA) to determine your home's worth.
Specifically, they will research recent sales of homes in your area of similar size, features and amenities to determine its estimated value.
2) Another option is to call several different real estate agents and ask them to do a CMA to determine the value of your home. Although you may not be able to get a loan based on it, you can still get a good sense of its worth...and for FREE!
Plus, many agents will be happy to do it for the possibility of listing your home for sale, and/or selling you a new home. Securing 2-3 different quotes is better than one, as it might help you to better determine the value.
Hope this helps.
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