Have you ever wondered how much your house, or one you might buy, is actually worth?
The quick and easy answer is: Whatever someone is willing to pay for a house is its value. The lengthy response varies based on the market and who you ask, including a lender, agent, or county tax assessor. But why should we trust what they say?
You will be better prepared to buy, sell, refinance, tap into your home’s equity, and even negotiate lower property taxes if you know how to calculate your home’s value using online tools and trained professionals.
Our monitoring plan will provide you with detailed and accurate data that will help guide you navigate determining your homes value.
Additionally, it may offer a picture of your overall financial well-being. According to a NerdWallet survey that was carried out online by The Harris Poll in August 2018, nearly three-quarters (73%) of Americans believe that knowing the value of their home is crucial precisely because of this.
How to determine a home’s value
Investigate “how much is my house worth?” with our valuation tools. According to the survey, an online estimator was used by 22% of homeowners in the United States who were determining the value of their home. We offer these tools and reports and deliver them to you each and every month, which are technically known as automated valuation models (AVMs).
These tools and records attempt to predict your home’s value based on recent sales and listing prices in the area by combining mathematical modeling with public records like property transfers, deeds of ownership, and tax assessments.
We use distinct AVMs. A “confidence score” is used in our tools to show how close the AVM is to market value. For instance, a confidence score of 90% indicates that the estimate is within 10% of market value. However, confidence is calculated differently by each AVM.
A CMA is our evaluation of the home and the market to provide an estimate of value, typically for listing purposes. However, it is not as detailed as a professional appraisal.
Our report we send to you will evaluate, among other things:
Market: The neighborhood, city, and region in which a house is situated.
Property: aspects of the house, including its improvements and the land on which it is built.
Similar characteristics: Cost, depreciation, sales, vacant listings, and other factors for comparable homes in the same market.
An official AVM report is produced after all of this information is combined to arrive at a final estimate of the home’s value.
With any one of our subscription plans, you will be able to monitor the value trends and activity for your neighborhood and home.