There are a few ways to calculate the value of your home.
An informal way to determine the value of your home would be to use a website like Zillow that will determine the value of your home based on recent tax data of similar sales. However, these values are rarely correct as they do not adjust for condition, location and sometimes even age and lot size.
Another way is to have a Realtor conduct comparative market analysis to determine a fair market value of your home. A comparative market analysis will look a similar homes that have sold recently and similar homes that are currently on the market. Using this data, along with other factors like absorption rate you can determine a value for your home in today's market.
The last way would be to pay for an appraisal. An appraiser will also look at similar sold homes in your area and adjusted for the differences to determine the value of your home.
I hope this information has been helpful. If you would like, my team and I would be happy to put together a free comparative market analysis and discuss it with you. If you are interested, please let me know.
Thanks,
Nate Blankenship, REALTOR®
Listing & Technology Specialist
The Gardner Team
Keller Williams Realty
Direct: 864-497-3131
nate@HomesInTheUpstate.net
Fax: 864-486-1619
Web:
http://www.HomesInTheUpstate.net
http://www.NateBlankenship.com - Mon Dec 7 2009, 09:21