How Much Is My Home Worth

How Much Is My Home Worth

Are you thinking of putting your home on the market? One of the first questions sellers ask is, “How much is my home worth?”

There are many ways to find an answer, from easy-to-access online calculators to in-depth appraisals. Here are some tips to help you navigate these tools and understand how much your home is worth.

Online Home Worth Calculators

Many sellers first turn to online calculators, easy to find on your favorite home search site or with a simple online search. Enter a few numbers into the calculator to instantly get a number.

These calculators often vary depending on how they calculate the home worth. Enter your information into a dozen calculators and you could end up with a dozen different answers. Estimates are based on a variety of factors, from public records to user-provided information.

However, online calculators are only as good as the information that is available. They cannot account for any upgrades you’ve done to your house, unique features about your home, or special qualities of your neighborhood. Unique factors like these add value but are not easily included in the calculation and thus left out of the equation.

While online home worth calculators can provide a useful starting point as you’re thinking about selling your home, they should not be used alone. Online home value estimates are just that – an estimate. Use these calculators when you’re starting out, but consult with a REALTOR if you’re seriously considering selling your home.

Use the REcolorado Home Worth Calculator >>

Comparative Market Analysis

For a more accurate value, ask your REALTOR® to provide a Comparative Market Analysis or CMA. In this analysis, your agent will combine real estate experience, housing market trends, and expertise with information about recent home sales and comparable homes in your neighborhood.

A REALTOR is a local expert who will take time to understand your home. They can include much more detailed information in a CMA to ensure you are getting an accurate valuation. Unlike an automated online calculator, your agent can consider unique features of your home and factor those into its value.

An agent can provide important outside perspective as well. They understand how a possible buyer will see the value of your home, which is very important to attract the best offer for your home.

With this insight and expertise, you’ll have a much deeper understanding of your home’s worth. Your REALTOR can also use market trends to recommend the best time to put your home on the market. And when it’s time to sell your home, your REALTOR will use a CMA to determine the best strategy for pricing your home for sale.

Connect with a local REALTOR >>

Appraisal

An appraisal is a final step to understand exactly what your home is worth. Typically, the appraisal will come after your home is on the market and under contract. An appraisal involves a comprehensive look at all the details of your home. This includes room size and number, square footage, and above or below grade spaces. The calculation also weighs the values of similar, nearby homes that have recently sold.

Mortgage lenders rely on a formal appraisal to determine terms of a home loan for buyers. Because it is used as the basis for a home loan, an appraisal is typically performed when you have a serious buyer for your home for sale. Talk with your REALTOR to determine how an appraisal fits into the process of selling your home.

Each of these methods can be used to answer the question, “How much is my home worth?” Online home worth calculators can provide a useful estimate in the early stages but cannot replace the expertise of a REALTOR performing a comparative market analysis. Talk with your real estate agent to learn more about determining home worth or selling your home.


Marc Blitstein Headshot
Author:
Phone: 303-330-4058
Dated: September 3rd 2018
Views: 141
About Marc: Marc Blitstein has been a licensed Real Estate Agent since 2004. Real estate experience has been in ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Denver Metro Real Estate Trends Report For August - Great time for buyers to get out
Reverse Mortgage For Seniors - Reverse Mortgages for Seniors –
WHICH DOWN PAYMENT STRATEGY IS RIGHT FOR YOU - You’ve most likely heard the:
New Industrial Development Coming To Northwest Denver - Check this outhttps://www

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Ion Real Estate
2049 Larimer St.
Denver, CO
720-466-2866
720-367-5213

Other Locations