How to Estimate Real Estate Value

The real estate market has been changing in many areas throughout the country. With these changes, you may be curious as to the value of your real estate. You need to know the value of your real estate if you are considering selling your property, or making other changes to your real estate portfolio.

Difficulty: Moderate

Instructions

1. Ask a realtor to appraise your real estate. Realtors typically will perform a Comparative Market Analysis for free. To determine the value of your real estate, the realtor will compare your property to similar properties that have sold recently. Using a complex formula, the realtor will compare various factors to estimate the value of your real estate.

2. Hire an appraiser to appraise your real estate. If you are refinancing your mortgage, the bank will require an appraisal of your real estate. The bank will hire an appraiser to estimate the value of your real estate. This will cost a few hundred dollars.

3. Use a website, such as Zillow, to estimate the value of your real estate. You can get a Zestimate, or estimate, of the value of your real estate at Zillow.com. Zillow uses a formula that includes real estate market data from your area to determine a Zestimate of the value of your real estate.

Resources

• Zillow Zestimate