Understanding the value of your home allows you to determine how to price your home! An easy starting point to find the value of your home is to enter your address into an online home value estimator that will give you an estimate of what your home is worth, based on recent home sales in the area. You can use ours here for an example.
Another option is to directly ask a local real estate agent for comparative market analysis or CMA. This process involves finding similar properties that have sold within the past 90 days. Although a CMA is not as detailed as a professional appraisal, it provides an agent’s evaluation of the home and market to provide a realistic estimate of your home’s value.
Some of the reasons why it is essential to know the value of yourhome are that it prepares you to buy, sell, refinance, and negotiate lowerproperty taxes. If you are preparing to sell your home estimating the value astoo high, could lead to your home sitting on the market for an extended period.A property that goes unsold for more than 30 days becomes unappealing to amajority of home buyers. Identifying your home’s value gives greater controlover the entire process of selling your home. If you are unsure of where tostart, enlist the help of your local real estate agent, they are informed aboutthe market and are an excellent resource.