How much is My House Worth?

Are you wondering “how much is my house worth?” I have two answers for you. First, if you don’t really need to move, it is worth whatever you say it is. If you think, “I wouldn’t sell this house for less than $300,000,” then it is worth that much to you. If you need to sell it, though, what it is worth to you is irrelevant.

Market value is the only relevant value once you are ready to sell. This is the value according to all the home buyers out there. They don’t care what you spent renovating the house, or what you originally paid. Spend $50,000 adding a pool, and they may only pay $20,000 more for the home. Real estate is worth what the market says it is worth.

How Much Is My House Worth – Part One

To estimate the market value of your home, use “comparables.” This is how appraisers do it. Find at least three similar homes nearby that have sold within the last two to three months (these are your comparables).  Also, plan on requesting current listings as some banks are actually looking at new listings for value since the markets tend to trend to the decline in value.  This information is in county records (sometimes online now), or ask a real estate agent with access to the multiple listing service. Get the sales prices, terms of sale, description of the property, and other information.

Take your first comparable, write down the selling price, and review the description item by item. Add to the sales price of the comparable for each thing it doesn’t have that your subject home has, and subtract for each thing it has that your subject home does not have. This sounds confusing, but it will make sense once you try it a couple times.

For example, if your home has a second bathroom, and the comparable doesn’t, add the value of the bathroom to the sales price of the comparable. You’ll have to estimate what these things are worth, or ask for professional help.  Sometimes it is just worth paying the price for an appraisal to get it done right, or maybe your local realtor can help.

You are rectifying differences, to see what the comparable home WOULD have sold for if it was just like yours. If a comparable sold for $242,000, with one less bathroom than your home, and a bathroom is worth $15,000 in your area (ask a real estate agent for help with these figures), then you ADD $15,000 for the bathroom it doesn’t have. Subtract, say $5,000, for the paved driveway it does have, that your home doesn’t have. $242,000 plus $15,000, minus $5,000 gives you a comparable sales price of $252,000.

Do these with each comparable, then average the three comparable prices. If, for example, the three comparables now have adjusted sales prices of $252,000, $262,000, and $249,000, add the three figures and divide by three. The indicated value of your home is $254,300. This is about what it should sell for.

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Lyrics – She was stormin’ through the house that day And I could tell she was leavin And I thought, aw, she’ll be back ‘Til she turned around and pointed at the wall an said That picture from our honeymoon That night in Frisco Bay Just give it away She said, give it away And that big four-poster king-size bed Where all our love was made Just give it away She said, just give it away Just give it away There ain’t nothin’ in this house worth fightin’ over Oh, and we’re both tired of fightin’ anyway So just give it away So I tried to move on But I found that each woman I held Just reminded me of that day Hmmm When that front door swung wide open She flung her diamond ring Said, give it away Just give it away And I said, now, honey, don’t you even want Your half of everything She said, give it away Just give it away Just give it away There ain’t nothin’ in this house worth fightin’ over Oh, and we’re both tired of fightin’ anyway So just give it away [Instrumental interlude] So I’m still right here where she left me Along with all the other things She don’t care about anymore Mmmm, like that picture from our honeymoon That night in Frisco Bay She said, give it away Well, I can’t give it away And that big four-poster king-size bed Where all our love was made She said, give it away Well, I can’t give it away I’ve got a furnished house, a diamond ring And a lonely broken heart Full of love and I can’t even give it away

Frequently question about house worth

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Christine Hynes –
About the Author:

I have an extensive background in Residential and Commercial Lending, and have been a top producer. I handle refinancing, purchase loans, conventional, jumbo, FHA, VA, and USDA in many states.

With the market changes, I began receiving requests for loan modifications for a variety of reasons, job loss, job change, medical conditions, etc. So, I invested time in finding the right help for these requests. I did and continue to research and add Attorneys that have the following qualifications:

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Real estate photography is a new, exclusive initiative to promote international property business to inspire by the theme Development, Nature and Architecture. Real estate photography leads to increased competition in the photographic market. Most of time people would likely visit their property for sale because of the attractive images.

Tips of good real estate photography
- A good source of light.
- Wide angle lenses make real estate photos appear spacious, inspirational and motivational
- Digital formats cut down on printing and developing expenditures and makes photos available immediately.
- Same images should be available in different sizes so that according to the specifications you can provide it.
- take a shot of every part of house for sale including living room, kitchen, dining room, and other parts of the house.
- highlight the best features of your house.
- clean the entire house before taking its photos.
- hire a professional real estate photographer.

Real estate photography is of following kinds:
- Standard real estate photography,
- Elevated pole real estate photography,
- Exterior twilight real estate photography,
- Interior real estate photography services,
- Real estate photography for builders and architects.

Real estate firms have totally booming nowadays. If you are a property agent, you have probably faced a lot of competitions. Over few older years, when all you require is a well written advertisement to sell a real estate. Currently in order to fully publish your listings, you need to attach a good real estate photographs. With the emergence of digital cameras, the realestate that you are selling can be photographed and placed online. Potential purchasers from different parts of the world can actually see your listings with the images in it. Don’t underestimate the value of these photographs because a purchaser can definitely decide to check out the real estate based on the pictures that you have.

Real estate photography makes the property images impressive. If you have a house which looks unattractive and you want to sell that but because of appearance no good investor wants to buy it. Through the technique of real estate photography you can make your house to appear better and most of the investors search online for real estate images to buy it. Based on recent estimations, the number of individual searching home for sale online has increased. Almost half of these property seekers found their dream property instantly online through the help of real estate photography. An image is worth a thousand words. Especially when your words may be limited by the Multiple Listing Service use real estate photography techniques to express your quality difference in properties.

Watch the video related to buying real estate

www.CashFlowInstitute.com Even if the overall real estate investing market is soft, you can look for markets that have demand such as those with prominent institutions of higher education such as those with universities, expanding medical facilities in baby-boomer rich areas, or a growing federal government workforce where those types of jobs exist in mass. Discover more ways in this video. Mark Walters ~

Help answer the question about buying real estate

How do you research towns to see how good they are when buying real estate?
I’m considering buying a piece of property in Cherry Hill New Jersey. I was wondering how I’d go about researching the area? Schools, ethnic diviersity, incomes of families, etc… Any insight would be appreciated.

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Sydney Real Estate Photography offers servics like Real Estate Photography, property photography, architectural photography, interior design photography and landscape photography. For more detail about Real Estate Photography visit: www.sydneyrealestatephotography.com.au and also visit: seo services

Whether you are selling your home or refinancing, you’ll probably getting a call from an appraiser. Their job is to determine the fair market value of your home based on guidelines set out by the Federal National Mortgage Association. This is not the same as a competitive market analysis that many real estate brokers perform, sometimes referred to as “comps”. The professional appraiser does an in depth analysis of you home’s condition, additional features as compared to other similar homes, and location.

They start by looking at you neighborhood and find comparable homes that may have sold recently, characteristics of lifestyles, income level in the area, average age, and surrounding home values. So if you home has 4 bedrooms, 3 bathrooms, and a 2 car garage on a half acre of land, they will try to find a similar home in a nearby neighborhood. Sometimes they will extend their search and compare homes within the same school district when it is a known factor that affects the value of a home.

Once they find comparable properties, they will make some adjustments. Sometimes they will add value to your home based on the landscaping, external features such as a fenced back yard, or maybe there is view of the ocean. Numerous items may be added or subtracted from your home’s value. Living space, numbers of rooms, sales in the last 120 days, usable land, and many other factors are considered. Rest assured it is not an entirely subjective process, but rather methodical and universal.

They don’t consider your choice of wallpaper and curtains. They don’t care if there are 200 toys laying in the family room or that you didn’t make you bed. Of course it doesn’t hurt to tidy up a bit, but it’s not really a factor in determining the appraised value of your home. They are there to measure boundaries, going to each level in your home and looking in all the rooms, and taking more measurements. A few pictures are taken only for the appraiser’s folder which will go in a file.

Normally, if you are buying a home or refinancing, you can let the lender know if you prefer a particular appraiser or company. You can ask any real estate broker if they can recommend someone to you as well. A qualified appraiser is licensed by the state and will cost from $150 to $500 or more depending on the size of the home.

If you are selling your home, the buyer normally pays for this. However, it wouldn’t be a bad idea to get an inexpensive online appraisal. You can find one of the better instant online appraisal companies at Online Home Appraisals.

Watch the video related to home appraisal

Explore the varied career options available to valuation professionals with the Appraisal Institute of Canada.

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How long, from the time ordered, should an average bank home appraisal take?
Hi there, my Husband and I are anxiously awaiting the results of our bank’s home appraisal for our new home. Everything else is ready to go, we’re just waiting on the appraisal so we can get papers ready to sign and move into our house. The mortgage company told us they put the order in for an appraisal over a week ago – how many days does it take before the appraiser actually gets to our house and finishes up his report? We’re excited and ready to move forward! Lol* Thanks for any help anyone can offer.

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Robert Rogers is a writer in the Washington DC area. For more free tips and resources, visit his website
Home Appraisals Online

If you are considering purchasing or selling a home, condo or any other type of real estate, you will most likely need the services of a real estate appraiser. An appraiser performs an assessment of properties and other types of real estate to help establish its value. While there are several methods appraisers use to establish the value of real estate (e.g. cost method, income method, and comparison method), for residential properties, the comparison method (also known as market value) is the most common approach. The appraiser’s job is to provide an opinion about the value of a property based on its “highest and best use.” If you are financing the purchase of a property, your lender will normally require an appraisal to make sure that the property is really worth the amount loaned.

The real estate appraiser is tasked with carrying out a completely objective assessment of a property and will normally provide a written evaluation report. This is accomplished by a physical inspection of the property, as well as a comparison to other similar properties for which the value is already established. To make a determination about value, the appraiser gathers details such as the size of a property, size of the lot, location, condition, best use of the property, amenities, etc.

After this initial inspection, the appraiser may scout the neighborhood to compare the property with other similar properties in the neighborhood by age, size, price range, etc. The appraiser then gathers additional data from several sources such as the local Multiple Listing Services (MLS), which provides information on current and recent comparable sales. The appraiser also gathers information from his/her own past experience in the local market. All of these sources of information are taken into consideration while writing the appraisal report, which will provide an estimate about the value of a property.

There are many reasons to use the services of a qualified appraiser. When purchasing real estate, an appraisal provides you with a negotiating tool and helps ensure that the price you are paying is appropriate. If you are selling your property, the appraisal will help you determine an appropriate price range. Besides real estate and mortgage transactions, you may need to order an appraisal to lower the tax burden (assuming the value is really lower than the value established by taxing authorities), to establish the replacement cost of insurance, to settle an estate, etc. An appraiser only gives an estimate of the value of the property. A real estate appraiser is not to be confused with a home inspector.

If you are considering buying or selling a home, condo or any other type of real estate, you can use the services of a qualified real estate appraiser who will provide an estimate of the fair market value of your property.

Watch the video related to real estate financing

Financial Markets (ECON 252) Real Estate is the biggest asset class and of great importance for both individuals and institutional investors. An array of economic and psychological factors impact real estate investment decisions and the public has changing ideas of real estate as a profitable investment. People’s demand to buy a home by taking on long-term debt, called a mortgage, is often tied with the overall health of the economy and financial markets. In recessions, home buying tends to …

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Can I obtain more attractive real estate financing terms by using a stock portfolio as additional collateral?
I’d like to purchase a rental property but I’m having a hard time obtaining financing because I am currently a graduate student and don’t have any income. However, I do have a stock portfolio valued at about $295,000. Is it possible to leverage the stock portfolio as additional collateral to obtain financing?

Thanks for your help.

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If you’re planning to sell a piece of real estate, it is important to get your home appraised. While you can look at market trends for houses similar to yours to generate a rough estimate of what you think your home should be worth, only a certified home appraisal will give you a number that you can be truly confident about and one you will be able to present to potential buyers.

How An Appraiser Rates Your Home

The real estate appraiser will generally start by doing an analysis of the physical characteristics of the property. How much square footage is there? How much useable square footage? How many bedrooms? How many bathrooms? How much undeveloped land is part of the property? How old is the property?

He’ll then collect sales data for similar homes that have sold in the same neighborhood. He will use these figures to gain a basic understanding of how much a property like this should be valued at in the current market.

Finally, there is a field inspection. The first part of the field inspection is the subject property inspection, which involves an exterior and interior inspection. The exterior inspection consists of taking pictures of the front and back of the home, the back and front yards and the street in front of the home. The interior inspection consists of noting the condition of the walls and fixtures within and making notes on anything that might increase or decrease the value of the property in this regard. He should draw a floor plan of the home during this part of the inspection. The second part is the exterior inspection of comparable properties, which he will use to help him estimate the final value of the property being appraised.

The Importance Of Home Appraisal

A good appraisal can make you thousands of dollars more than you might otherwise get. Be sure that the appraiser you use is highly trained and trustworthy. Try to get references from others who have used the appraiser successfully to be sure you are working with someone who will give you a true and honest accounting of your home’s value. To make sure you get the most favorable appraisal you can, take the time to prepare for the appraiser’s arrival. Give the home a fresh coat of paint, make sure the home is clean and take care of any minor repairs before he arrives.

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The real estate appraisal market is currently in the toilet. This is what I’m doing to make $$$ while waiting for the market to pick up again.

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I need a generic home appraisal form to use to help sell our home?
The potential buyer of our home needs an appraisal form to give to her lender. We are selling by owner and not sure what kind of lorm we need.

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Acreage Anywhere provides a global marketplace for vacant land ownership opportunities of all types. Featuring an easy-to-use vacant land search tool, streaming video tours of available communities and interactive mapping of many land developments. Easily find land for sale all over the country, whether you’re looking for ranches, rural properties, second homes or recreation properties.