What’s the Best Way To Find Out Your Home’s True Value?

By Linda Welsh

Specialize in representing savvy Buyers and Sellers for residential, second home, vacation properties, lake and hill country properties, new and existing homes, land and lots. Relocation services include area, community and neighborhood expertise and helping the entire family to find the perfect home to meet their needs and wish list.

Spring is here, which means real estate is picking up speed. This is the time when many homeowners start thinking about their home’s value. However, most of them rely on the wrong sources that give inaccurate estimates. Whether you are selling soon or just curious, knowing the correct number matters. These are the best ways to determine your home’s true value:

1. Comparative market analysis (CMA). A CMA is one of the best ways to understand a home’s worth. This assessment compares your home to similar recently sold homes in your area, factoring in size, features, location, and market trends. It’s free and far more accurate than online tools.

2. Professional appraisal. A licensed appraiser provides an unbiased valuation, often required for refinancing or loans. They assess your house’s condition, upgrades, and market comps. This is the most precise method but comes at a cost of a few hundred dollars.

3. Online valuation tools and research. Websites like Zillow and Redfin provide quick estimates, but you should not rely on them alone. Cross-check multiple sources and look at recently sold homes that closely match yours for a more accurate picture.

4. Neighborhood home search. A real estate agent can keep you updated on home sales in the area, even if you are not planning to buy or sell anytime soon. This is a great way to stay updated on local market trends. Valuation tools like Homebot can also give you an idea of your home’s worth, but they may not be accurate in non-disclosure states. However, real estate professionals can help fix those numbers to give you a more accurate picture.

Knowing your home’s value matters whether you’re selling or just curious. Online estimates can be inaccurate, but a real estate professional can help you get the right number. Bear in mind that the market is always changing, so having accurate information keeps you on track. If you have questions or need guidance, please reach out. You can call me at 657-4033 or send an email to linda@lindawelshrealty.com. I look forward to hearing from you.