i bought a house in dec 07 for 525000 in benleyville ohio , prior price in june 03 was 530000 , what is my house worth now

Asked by It, Bentleyville, OH Tue Sep 14, 2010

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Diane Norris, , Las Vegas, NV
Wed Sep 22, 2010
You bought around the height of the market and it appears that you got the house $5,000 less than the prior sale. Generally, while homes closer to Cleveland have seen declines to the values of the late 1990's, most of the eastern suburbs have been luckier, with values averaging around where they were in the 2002-2003 range. If you are planning to sell, averages don't mean anything, however.

Condition and location (Bentleyville is agreat village!) play a major role in determining a home's value. If you are considering a refi, an appraisal will be required by a bank. If you are considering selling, ask a local Realtor (that would be me!) for a market analysis. If you just want an idea of values over time, there's a widget on our website that will update you monthly. Find it at http://www.REDTeamHomes.com.

Best of luck!

Diane Norris, The RED Team at
Keller Williams Greater Cleveland Southeast (Solon)
0 votes
Dan Tabit, Agent, Issaquah, WA
Tue Sep 14, 2010
The answer depends somewhat on why you need the information. If you hope to refinance, you'll need a formal appraisal to firm up what the value is. If you plan to sell, an appraisal may not be much use until there is an offer on the house. Zillow.com and other sites can give you a starting place, but they are just that, a place to start. The Zestimate may be as much as 10% high or low in many markets and depending on the condition of your home.
Since you indicate you are a seller, interview a few agents and ask them to provide a market analysis. If you are planning to sell without an agent, discuss this with the agents and listen to what they have to say. A good agent is worth more than what you will pay. You can also consult agent who helped you buy the home would love to chance to reconnect and can run an up to date CMA to give you a better idea.
0 votes
Sheila Bradf…, , Parma, OH
Tue Sep 14, 2010
I can run a quick analysis if you could email me an address and I can look up information on the property. I would be available to come view your home to give you a better estimate of your homes value as well. There are a lot of things that go into the value of home. Realtors look at current houses for sale, houses that have sold and compare what each property has to offer.

Please view my profile to get my contact information.

I look forward to hearing from you.

Sheila Bradford
Howard Hanna Real Estate
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