Like all things for sale, your home is worth what it can sell for. Ultimately what the buyer ends up paying for your home is what it’s worth. But thanks to fast data you can get an accurate price expectation well before an offer comes from any buyers.
When getting an accurate valuation of your home, there are some important things to consider...
How much is my house worth?
How much does a property valuation cost?
Property prices are in part based on opinion – people will pay what they think a property is worth in the current market. Property prices are (most importantly) based on the selling price of comparable homes in the neighborhood.
Depending on the market, getting a straight forward valuation can be tricky. Even on a property that you’d think would be quite simple to give a value estimate on – a $400,000 property in Snohomish, WA, for example – you can hear opinions as low as $350,000 and as high as $430,000, which could leave up to $80,000 on the table.
The most accurate valuation comes from having a licensed Real Estate Broker provide you with a comparative market analysis. A comparative market analysis is an examination of the prices at which similar properties in the same area recently sold.
Real estate agents perform a comparative market analysis for their clients to help them determine a price to list when selling a home or a price to offer when buying a home.
With a comparative market analysis in your hand you'll know a lot about your own local property market. This will go a long way to ensure you are able to make informed decisions throughout the entire process.
So, how much equity is in your home?
You might be surprised to find out the market value of your home... Get a real estimate of how much your home is worth (and how much cash you could walk away with if you sold it) for free.
It takes about one minute, it’s guaranteed to be accurate and it's completely free.