Home valuation can be a tricky subject; however there are some basic guidelines that a home seller might want to know about pricing a home when deciding to sell.
The first is to understand that tax value and fair market value are different opinions of value.
The tax value usually comes from your local county taxing authority, usually an assigned property tax value.
The fair market value can be derived by several means such as getting a comparative market analysis of similar homes from a competent realtor or licensed appraiser.
These two basic valuations that can lead into a whole chapter on valuation in some professional circles; but for your needs it will give you two industry recognized estimates.
My first recommendation is to get a professional appraisal of your home, if you can afford one. If you are unable or unwilling to invest in this effort, perhaps you could work with a local reputable realtor and ask for a complimentary Comparable Market Analysis.
After getting these numbers, several factors determine the â€œworthâ€ of the home including local market conditions, condition of your property, and your personal financial goals.
All information is provided "as is" with no guarantees or warranty. M. Chalambaga Â© 2011