PJTVNews

It is important to know how much your house is worth. The majority of people’s main asset is their home. If you ever want to sell, refinance, or borrow against the value of your house, knowing its worth is critical. The majority of methods for assessing the worth of your property are more art than science.

If you decide to refinance your mortgage and maybe take cash out of your property, your lender will perform an appraisal, which will assign a value to your home. If you decide to sell your house, a realtor will locate similar properties, and the final value of your property will be established by what someone else is ready to pay.

However, if you want to track the worth of your property over time, there are a variety of online home assessment services that may assist you to do so. A word of caution: the values provided by these sites are simply estimates and may be significantly different from what your house is truly worth. Read on to try out some of the available online home assessment applications and discover more about the worth of your property.

Why Is Your Home’s Value Important?

Your house is a vital aspect of your financial strategy, in addition to providing a place for your family to reside. Here’s why it’s important:

• Your home’s investment worth should presumably improve over time. Your net worth rises as the value of your property rises. You will gain money on your investment if you sell your home later.
• Borrowing power: This is especially true if you ever borrow against the value of your property. If the value of your house rises dramatically, you’ll have a lot more flexibility when it comes to using a home equity line of credit, or HELOC, to fund costs such as a renovation, a car, or your children’s education.
• Tax implications: According to Minnesota Financial Advisor Jamie Pomeroy, “keeping an eye on the market value and property tax assessment value is vital so that you don’t pay tax on an artificially inflated property value by accident, or vice versa.”
• Resell value: “If you’re selling your property in the next three years, you’ll want to keep an eye on the value and the real estate market in the hopes of selling at a good moment,” says Jose V. Sanchez, a financial advisor, and contributor to LifeInsuranceToolkit.com.
• Finally, understanding the worth of your house may be useful in estate and elder law care planning, according to Joseph A. Carbone, Jr., CFP, Founder and Wealth Advisor of Focus Planning Group.
• Insurance for homeowners: Don’t forget that understanding the worth of your property is essential for ensuring that you have sufficient homeowners insurance coverage.

So, whether you’re thinking about refinancing your mortgage or taking out a home equity loan, your best bet is to acquire a free quotation. By picking your state below, you can see what your rate will be and how much you may be authorized for.

Convinced? Here are several websites that make tracking your home’s worth simple and enjoyable:

What is the value of your home? The following are the top ten best internet tools for estimating the worth of your home:

• Zillow
• Trulia
• Redfin
• Realtor.com
• Eppraisal.com
• HomeGain.com
• Chase Mortgage Services
• RE/MAX
• ForSaleByOwner.com

1. Zillow

Zillow is one of the largest – and most popular – websites for tracking the value of your house. According to Joseph Carbone, a financial expert I spoke with, the nicest element of Zillow is the site’s style and ease of use. You may acquire a Zestimate – a Zillow-created estimate of your home’s value – by simply inputting your home’s value into the website’s user-friendly interface. You may use the website’s consumer-friendly features to not only figure out how much your property is worth but also to look for properties in your region.

How to figure out how much your house is worth:
Simply enter your address, and Zillow will tell you whether or not your home has a Zestimate. You may also register an account, claim your house, and receive frequent valuation updates. They’ve set the bar extremely high for all other free home value estimators on the market today.

2. Trulia

Trulia is comparable to Zillow in terms of functionality. Once you’ve arrived at the website, you may enter your address to find out how much your property is worth. Trulia, on the other hand, instead of providing a Zestimate, provides the average listing price for similar houses in your region. The average list price for all properties in your neighborhood is also available on Trulia, as well as typical facts about your property, such as square footage, lot size, and bed/bath information. If you want to refinance your house, Trulia can assist you with its own network of approved lenders.

How to figure out how much your house is worth:
You’ll be sent to a website with a lot of information about your house and property after finding your address on the main screen, and you’ll be invited to contact them for an estimate.

3. Redfin

Redfin Estimate is another website that has gained popularity among real estate aficionados and homeowners. With Redfin, you can discover about the nearby area, a property’s “walkability,” and how much property taxes cost each year by entering a few data about it. Furthermore, according to financial expert Sanchez, values on this website may be somewhat more accurate.

How to figure out how much your house is worth:
Simply input your house location into the search bar on the site and choose “See Property Estimate” get an instant estimate of your home’s worth. They provide you with a summary of how they arrive at their estimations while calculating.

4. Realtor

While Realtor may appear to be a website for real estate professionals, anybody may use it for free. Simply input your home location on the site’s homepage to get a variety of information, including a pricing estimate for your property. You’ll learn about the local schools, typical listing prices in the region, and even property tax assessments in addition to a pricing estimate. This tool is also useful for finding out about your next-door neighbor’s house and how much they may be paying.

How to figure out how much your house is worth:
You may get an instant estimate by typing your location into the search field and selecting “Property Worth.” You can also join up for an account, claim your home, and receive regular updates on its value.

5. Real Estate ABC

Real Estate ABC has partnered with Zillow to provide you with the same Zestimate you’d get there. What I appreciate best about this site is that it provides a wealth of information about recent property sales in your neighborhood. You’ll soon be able to find out how much a property sold for down the street on Real Estate ABC. This type of information is crucial since recent sales are the strongest predictor of your home’s current worth.

How to find out how much your house is worth:

The site’s interface is a little old, but all you have to do is fill in the required information in the available fields, and you’ll have your home’s value right away. They don’t ask for any contact information and offer up to 30 alternatives for each address.

6. Eppraisal

Eppraisal functions similarly to the other sites on this list, providing its own valuation estimate in certain circumstances and a Zillow Zestimate in others. Apart from property prices, Eppraisal also provides information about adjacent properties that have recently sold, as well as current refinancing rates and other information. You can access all of this information for free at Eppraisal.com, and you don’t even have to provide your email address.

How to figure out how much your house is worth:
Enter your address in the top right corner’s search field, and you’ll get the results of your property worth straight away – no need to contact anybody. You’ll get both an Eppraisal and a Zillow estimate, and the discrepancy can be startling.

7. HomeGain

While HomeGain is primarily a house purchasing site, one of their widgets allows you to receive a free estimate of the worth of your own property. The disadvantage of HomeGain is that you must provide your email address in order to receive “unlimited MLS data” for your location. Unfortunately, whether you want it or not, this typically means you’ll find yourself on a massive mailing list.

How to figure out how much your house is worth:
To get your home worth estimate, follow the directions on HomeGain’s webpage, and you’ll ultimately be prompted to provide contact information so that someone may call you. The user interface is appealing, but you won’t get results right away.

8. Chase Mortgage Services

While it may appear unusual, Chase Bank offers a free online home property valuation calculator. To find out how much your home is worth, simply enter your home address, state, and zip code. Rather than providing a precise figure, Chase provides a price range in which your house is likely to fall. This is a fascinating tool to play with because it also gives you an estimate of all of your neighbors’ house values. It’s also free, simple to use, and doesn’t need you to provide any personal information.

How to figure out how much your house is worth:
Simply input your address to receive a ballpark estimate of your home’s worth. You’ll also receive a comparative list of a few adjacent deals.

9. RE/MAX

RE/MAX, a real estate business, has recently entered the fray with its own home value estimate. While this is most likely a sales pitch to persuade you to employ their services when selling your property, the web tool is free and simple to use. To obtain a free assessment of your home’s worth, you don’t need to submit any personal information or provide your email address. You’ll be shown a color map of your area along with all of your neighbors’ property values once you enter your address. Because real estate firms base their estimates on MLS data, this tool tends to provide a pretty accurate estimate of most house prices.

How to figure out how much your house is worth:
To generate automatic estimates that you can compare, simply follow the easy directions. You can contact them for a more precise estimate.

10. ForSaleByOwner.com

While this site was designed to assist homeowners in advertising and marketing their houses without the need of a realtor, it also includes various resources that any homeowner may use. Their tool, Pricing Scout, is free and simple to use. You’ll receive an estimated market value for your house based on recently sold comparable properties in your region, as well as a summary of local real estate features, once you sign up.

How to figure out how much your house is worth:
Simply key in your location to obtain a report that includes a sliding scale for market value as well as a list of comparable properties in the area.

Keeping an Eye on the Value of Your House

For most of our lives, we’ve seen property values rise. Home price increases have a big impact on our wealth and borrowing capacity. Even if you don’t intend to sell your house, it can be a lot of fun to see the value of your property rise over time. Many people have wisely invested their home equity to consolidate personal debt or start a company from their house. While it’s critical to recognize your asset prices at all times, try not to become too hooked to the ups and downs.

Remember that these services and others that allow you to track the growth of your house’s value aren’t accurate, and the only time you’ll get a genuine answer to the question “how much is my home worth?” is when you sell or borrow against it.

If you want “the real thing” – a price that takes into account all of the factors that go into determining a home’s sale price – visit with at least two or three realtors or mortgage lenders to receive pricing ideas. A realtor is likely to be able to provide greater insight into your local market than any internet real estate service.