Truthfully, there are a myriad number of ways for you to get a reasonable idea of your home's value, especially today. Possibly the easiest way is to get the recent neighborhood sales information directly from your county recorder's office or any other government sponsored public site. To properly use the info you gather, simply compare and contrast a home or two of similar size, number of bedrooms and baths and almost identical features to your own. Be careful not to look at homes that sold have sold more than 6 months prior (the more recent the better- as the current market in most areas is still downward trending). Obviously, regardless of what price or value you set for your home, your home is truly only worth what a buyer is willing to pay. There are a number of other sites that gather this same information, but most do so for a fee.

Certainly your best and most accurate source is through a local realtor or two. Some people are afraid of a "sales pitch," from a real estate sales person, but let's face it, we all feel some sense of trepidation or fear when we go see our doctor, dentist or attorney, but we go to them anyway, because they are the professionals in their field. They are expected to know more than you do because that is their field of expertise. AND, Just like no two medical cases are exactly the same, no two homes are exactltly the same in every way. A professional Realtor can help you much better than you can help yourself. You certainly do not have to hire any of the Realtors you interview, but while you are on your computer , take a look at the statistics that show just how much money you may stand to lose by selling you home by owner instead of by Realtor. Best of luc...especially in this market.

You can hire an appraiser or have a realtor get you comparable sales data.

That is true. A BPO is not an appraisal. A BPO is just what it says, a Broker Price Opinion. They are an effective tool for their purpose. An appraisal is an analysis of a home’s value for lending purposes. Lenders request appraisals, then lend a percentage of the appraised value. A CMA or comparative market analysis is a tool real estate professionals use to accurately determine the fair market value of a home at any given time in a particular market condition. The CMA when done correctly is the best tool for valuing a home in preparation for sale. It takes into account similar homes and what they have sold for. Also it will include homes currently listed for sale. These averages help the realtor determine the market strategy needed to get the target price agreed on by the agent and seller. A CMA will also take into account the interior components and amenities, condition, location and many other variables. It is a great tool and most agents will do a CMA as a courtesy.

You can look up other homes in your area that are like yours. See what they are selling for. You should compare 3 to 5 houses. If this doesn't seem like something you could do, you could call a locale realtor. We do Comparables all the time. That will give you a starting point. Another site is Zillow.com. See if that site helps you. Good luck.

A BPO is NOT the same as an appraisal.
You also have to be careful, as BPO does not nessicarily mean anyone would even bother to step foot in your home. (aka driveby BPO).

Get an appraisal, get the opinion of agents, go out and look to see what other homes similar to yours are on the market, and what they're selling for. Getting the market analysis from an agent is fine - but if you're selling your own home, and you do not do your own homework - then you do not have any solid footing when it comes time to negotiate. If you do not understand or know the hows and whys your BPO, Appraisal, or CMA came in the way it did - it will be very difficult to justify your price come negotiating time, and you will probably be convinced to lower your price.

If you're going to sell your own home - and this might sound silly - you basically need to become an expert on your home. You need to understand how agents will look at the market, and look at your home in comparison to the market, and how they will try to argue you down on your price. You need to know not only what you have working for you, but also against you - and be prepared for the negotiations. You are essentially acting as your own agent, so in a sense you need to become an agent, even if only temporarily.

good luck.

Hello Jennifer,
I am finally getting hooked up with Trulia, great site. I hope we see more activity on it regarding Chaut County. I see you had a question on May 10th about your home’s value. The suggestion to check out Clear Capital is a good idea. I just did a BPO for them yesterday. If you have not got one done already I would be willing to do a CMA for you. We don't charge for the CMA. You can check my profile or my agent site link.

The best way is to contact an appraiser. Realtors can only provide a suggested selling price or purchase price. They are not licensed to provide market value or any other value or value range unless they posess a valid active appraisal license, which very few do. A CMA (comparative market analysis) provides a estimated selling/purchase price and are done for free but are factored into the commissions when the listing is acquired. A BPO (broker price opinion) is less expensive but not by much (clear capital and other BPO companies charge full price to clients and pay realtors minimal amounts for service - caution - you get what you pay for) and does not serve the same purpose as an appraisal. Lenders/Banks use BPOs to estimate a suggested selling price on foreclosed or bank owned properties and appraisals to determine actual market value.

The same way you would if you wanted a Realtor to sell it for you; call in several Realtors for a FREE market analysis. Real Estate is a service industry and we are happy to accommodate you in this area.

If you don't have anyone to come in, contact me offline and I will get someone in your area to assist. Gail@GailGladstone.com

You could get what's called a broker price opinion (BPO). It's less expensive than an appraisal, but essentially serves the same purpose. Clear Capital is one of the BPO clearing houses that has agents all over the nation which will do BPOs. They'll provide you with 3 active/pending and 3 recently sold comparable properties and give you their value opinion. Many lenders use BPOs instead of full-fledged appraisals just because BPOs are a lot less expensive. I hope this helps.