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Home values have skyrocketed since the start of the pandemic. Whether you have bought, sold, or even looked into buying or selling a home over the past two years, you have undoubtedly noticed the increase in property value. This increase has motivated many homeowners to sell to get the most out of their homes. If you haven’t already, you should look into the estimated value of your home right now.
Knowing the value of your home may just persuade you to put it on the market now. On the other hand, you may not be looking to sell regardless of what your home is worth. If that is the case, it is still worth looking into right now, with the prices soaring as high as possible. You may be able to refinance and end up with a lower monthly payment.
In this article, we will look into the best ways to find out what your home is worth and the top sites to use.
There are a few different ways to find out what your home is worth. Here are the top methods of finding your home value.
- Comparative Market Analysis (CMA) – This is an estimate of the home’s value based on similar properties recently sold in your area. Typically a real estate agent will perform a CMA before listing your home.
- Appraisal – State-licensed appraisers will walk through your home and write an official appraisal report. Banks require appraisals when refinancing your home or getting a mortgage for a new home.
- Online property value estimators – These are easy, convenient, and, best of all, free. There are many sites offering estimators out there. You can use this if you want a general estimate of what your home is worth. This can help you decide if it’s worth selling or refinancing.
All three of these methods can be worthwhile for you when you search for a home value estimate. However, an appraisal is going to be the most expensive option. In fact, you can obtain the other two options for free. An appraisal, however, is the most comprehensive and accurate number that you are going to get.
Typically it is best to explore the free options first and go from there. However, if you are intrigued by the free estimators or CMA results, it may be time to hire an appraiser. Once you take that step in the direction of an appraisal, you will be that much closer to knowing exactly what your home is worth.
This will also tell you what someone will be able to borrow from a bank if they will take out a mortgage on the home. This is one reason cash offers are appealing; there is no loan involved, just an agreed-upon price regardless of what the home is worth.
Let’s explore the best online tools to estimate how much your home is worth. There are many websites that offer estimates, but here is a list of the best ones, in our opinion. Any one of these options will give you a good idea of what your home is worth.
You can use this information to decide the best move for you financially. If you are looking to sell or refinance your home, having an accurate value estimate is essential. It is also helpful to look up the value of a home you are interested in buying to find a fair price. This will give you an idea of what the bank will be able to offer you in the form of a mortgage as well.
Redfin What is My Home Worth Checker
Redfin is one of the leading real estate websites. It is actually a real estate brokerage based in Seattle. You can find many resources when looking to buy or sell on Redfin. The home value estimator proves to be one of the best on the internet as far as accuracy goes. They also offer the option to schedule a free consultation with a Redfin agent to give a professional home value estimate.
Zillow offers one of the best estimators overall. Being one of the top real estate sites on the internet, Zillow has a very accurate estimator that has helped many people in their journey to sell their homes. Most people turn to Zillow for all of their real estate needs. It is a user-friendly site with everything you need to know about real estate when looking to buy, sell or just learn more about it.
Realtor offers many tools for homeowners, from the value estimator to market value comparisons. There are plenty of resources for those looking to buy or sell. Realtor is just as popular as Zillow, and they are very comparable in features. It is a Coke versus Pepsi kind-of thing with these two sites, and it boils down to personal preference. They both offer lots of information and an excellent search engine.
Chase has several calculators to help you determine exactly what your home is worth, what you can afford, and what loans are best for you. There are also several educational articles to help you navigate all that comes with real estate sales.
Remax uses top technology to come up with an accurate home value estimate based on historic public sales data and sales trends. In addition to the estimate produced by the Remax algorithm, they also show the Zillow estimate as a comparison.
All of these options offer very similar features. Some seem to produce more accurate results than others; however, I would highly recommend checking each of them out to get the most accurate estimate.
Finding the value of a mobile home is a little different than finding the value of a normal single-family home. There are a few different ways of getting an estimated value of a mobile home.
The first option is to get a free book value, which is an average value based on the mobile home’s make, model, and year. This value is similar to the blue book value of any vehicle.
You can also get an appraisal done just as you would with any other home. A licensed appraiser would come to walk through the mobile home and generate an estimate based on all of the existing features.
Finally, you can do some research on other mobile home prices and come up with a CMA. This is likely going to provide you with the least accurate value estimate. However, ultimately it is just an estimate, and it will get you in the ballpark of your mobile home’s current value.
In this guide, you were given several valuable resources for finding out the value of your home. The internet is a wealth of knowledge, and I encourage you to do further research. This article is another great resource for finding out how much your house is worth. Anyone looking for more articles on all things real estate can check out Fast Expert’s blog page.
Having the right information on top of an estimate will give you a leg up in the real estate sales process. Given the current market, it is important to be informed of your home’s value and the processes involved in selling it. This information will also make finding the right property and closing on it much easier. Then, when the time comes, you and your real estate agent will know exactly what to do.
Here is a bonus site with a home value estimator that was not discussed earlier. Trulia is another great option to explore if you would like to further back up the estimates given from our original list. Trulia has been around for years and can offer many of the features that the other top real estate websites offer.
When you are looking to find out the value of your home, you have a few options available, all of which were discussed in this article. In addition, it is important for anyone seeking a home value estimate to do some research. Fast Expert is an excellent place to find a real estate agent in your area that can help guide you through this process. A licensed real estate agent will have the knowledge and experience to help you through every step of the process.
Follow this article to give yourself the best position possible when buying or selling a property. There is a wealth of information on each of the sites that made our list. So, stay informed and work with a professional. You will not regret it, and it will pay off in the end for you.