Selling ones own home is a huge event. Homes carry more than just a market value, they have a value from memories and sentiment, homes are a place of security and protection, of comfort and luxury, it’s hard to put a price on those qualities. A home’s market value is absolutely critical and central to a plethora of different financial decisions one will make in their lifetime. Some of these financial decisions may include the decision to sell ones home and from that sell get out the appropriate equity. Other decisions may also include refinancing the mortgage, taking out a loan against the equity in the home, understanding the cost associated with the annual property tax the city charges on the estate, how much the insurance companies will charge monthly for insuring the estate, and figuring out if the home needs remodeling and realizing the costs associated with it including the appreciation in value. With these numerous reasons why knowing the value of a home is important outlined, here are four ways to properly get the real value.

The very first way anyone can figure out the cost of their home or estate is the simplest, they can pick up the phone and call some realtors. Realtors have access to a large amount of resources. They can figure out the property taxes, insurance, they can figure out what the homes are selling for around the home and what the specs the home has to offer are worth. A realtor will actually do this service through what they call a CMA, a comparative market analysis. A CMA will also usually be done for free even if they know that the home owner is not in a hurry to sell their home as realtors are wanting to impress the buyer and make sure and keep their service or business.

The second thing a home seller or owner who wants their home valued may do is to get the home professionally appraised by a bank or appraisal company. These appraisals are not going to be free because they will get service no matter what from banks and besides, this is how they make their living. Appraisals are much more in depth and are valuable to those who need the exact value of their home for their records. The appraiser will do a hands on inspection along with comparisons to the market and write ups of the details they find in the home both good and bad.

The third thing a person may do for their home valuation is to go to a open house and do their own comparative analysis. This is a less effective way to do a home evaluation but still will give a number in the ball park.

The last thing a home owner may do is to go online and do research. This is the least effective as most research will be based on square footage. Square footage is a start, and is important in the valuation process but will not effectively define the neighborhood, the community, the location, the street, etc. All important things in the price of the home.

Author Bio: Juhlin Youlien writes about Paradise Valley AZ homes and Fountain Hills Real Estate.

Category: Real Estate
Keywords: homes for sale, real estate, buying a home, selling a home, loan, mortgage, foreclosurehomes for sal