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nraboni
Uggh...
Member since 10/09 6905 total posts
Name:
Nicole
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Estimated Home Value
Does anyone have any tips or advice on how to estimate the value of my home in the current market without getting an appraisal.
I've looked at Zillow, Trulia & City-Data but they all say different things. I was trying to do comps of recent sales based on the information from these sites but I feel like that is comparing apples to oranges.
We are looking into the WF Home Renovation ReFi Program and before we move forward with the appraisal process we want to figure out the current equity and how much we would have to bring to the table at closing if the equity isn't there.
Any advice would be greatly appreciated!
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Posted 6/1/12 9:16 AM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Estimated Home Value
If you have any inclination of selling, just schedule an appointment with a Realtor as they will come for a free consultation and give you a market analysis of what properties are selling for in your area.
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| Posted 6/1/12 9:26 AM |
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Re: Estimated Home Value
Posted by ave1024
If you have any inclination of selling, just schedule an appointment with a Realtor as they will come for a free consultation and give you a market analysis of what properties are selling for in your area.
Agreed - The websites can be very inaccurate (sometimes they use outdated info, or compare sales that aren't truly comparable).
I often consult with people who need an estimate of their home's value for any reason (bankruptcy, divorce, refinancing), even if I know they have no plans to sell in the near future. I appreciate them being honest with me upfront about the fact that they don't intend to sell. But it's usually worth an hour or two of my time to make a new contact in the community and provide useful information. Most real estate agents get a huge percentage of their work from referrals, so if I make a good impression on the person to whom I provide a market analysis, perhaps they know someone who IS planning on selling (or buying) and will refer me.
Most of the time, a real estate agent will give you a comparative market analysis (i.e., an estimate of your home's value in the current market) as a complimentary service. In my company, we always provide free market analyses for any reason.
Message edited 6/1/2012 9:46:07 AM.
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| Posted 6/1/12 9:45 AM |
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