How to Estimate your Home's Value

This is a step-by-step guide for utilizing online tools to estimate the value of your home.

Difficulty: Moderate

Instructions

Things You'll Need:

• Internet

1. Depending on your state and its laws regarding public records, there are a number of valuable websites that can give you insight into the value of your home.

2. The sites that I have found to work best for my home's value are: cyberhomes.com, zillow.com, eppraisal.com, and domania.com. Based on your area, the accuracy of each site will differ greatly. Domania.com doesn't provide an estimate but it does provide recent sales information so that you can create an estimate using comparables just as an appraiser would.

3. Some other sites worth looking into are RealEstateABC.com, homegain.com, and realestate.yahoo.com.

4. Recent sales and market conditions are also large contributors to a potential sales price. Also, to give an accurate value, keep in mind the cost of commission (6-7%) as well as possible concessions, such as closing costs.

5. If all sites provide reasonable values, you can average , take a small percentage off the top to be conservative, reduce the price by the commission cost, an

Tips & Warnings

• Some sites allow you to update your home's information
• Different states and/or counties will have different accuracy rates based on laws.

[leaper]

on 4/18/2009 Great article on how to estimate your homes value.

[Sondrac]

on 3/24/2009 good advice. 5 stars and recommend