It’s human nature to want to know how much your home is worth and those who are really curious will do some research to figure out how much their asset is worth. There are many ways that people go about this.
Common ones are just looking at Zillow or Trulia or Realtor.com or Redfin, if you go to these sites, they will give you an estimate of what the site thinks your home is worth. But if you compare the sites, they are not the same, how can this be you might say. Well some sites take the actual price on the market vs. what the house is actually worth. In other words, if a house is over valued with the list price, it’s going to throw off the calculations.
Sure this will get you in the ballpark of your home value, but it’s important to realize that might not be the correct value of your home. Just like how these are also not true:
* Well I bought my house for this price, so I think it’s worth x amount.
* My neighbor was able to get x amount for their house.
So how do you find out the best way to get the value of your house? Contact your Realtor! They will give you a free consultation on how much your home is worth based on what houses compare to yours in your area that have sold recently. They will also tell you what is currently active on the market so you know what competition is out there. This process is called pulling comps.
So now you might be saying, well I don’t have a Realtor. I’m glad you said that! I am always happy to meet with you and give you my Professional equity analysis report(P.E.A.R.). I will give you the comps and help you realize how much equity you currently have so you can make a great decision on if you want to sell now or in 1-5 years or a long time down the road!
Feel free to reach out to me for your free P.E.A.R or just to see comps in your neighborhood. Call me today or email me! I’m always ready to help.