Find Out What Your House Is Worth With These Home Values Estimation Tools

Published: January 12, 2017 at 2:48 am Updated: January 16, 2017 at 4:42 am
Estimated home value of houses in middle class neighborhood

How Much Is My House Worth? — the question will invariable come up as soon as you realize it is time to sell your house. Unfortunately (or fortunately depending on you perspective), your question will go unanswered as it is impossible to determine the exact value of your house (or any other house for that matter).

Unlike the latest tech gadget or running shoe, homes don’t come with a price tag; there are just so many variables and no mathematical equation can be formulated to take them all into account. Computer scientists have tried to come up advanced algorithms to estimate the price of every house in the US, and they do a heck of the job… most of the time.

Even if your agent can come close to a fair market value by looking at recent sales of comparable houses in your area, or give you an approximation of your condo’s value by citing the price per square feet in your building, you really can’t trust any one source.

You can ask every single real estate agent in your town for a broker’s price opinion (or BPO) on your house and you will get as many different (and sometimes contradicting) figures as there are agents in your town. Perhaps this explains why home values are always referred to as estimates. It doesn’t matter if the number comes from a agent medium has been used to provide the estimate, be it through human or use of technology; what is important is that it remain an estimate.

The best you can do is arrive at a “good enough” price approximation, one which will (hopefully) be acceptable to you and your buyer as well.

There are pretty complex tools out there which only licensed agents have access to. Real estate appraisers usually have even more accurate tools, but they are expensive and difficult to use. If you are like most homeowners, knowing an approximate estimate based on the price average of similar houses is sufficient. It is not worth hiring an appraiser unless the house is unique or there are no comparable sales your agent can rely on. At the end of the day, a house is worth what a buyer is willing to pay, and a seller is willing to accept.

Without much further ado, here are the top 10 free tools you can use to get a rough estimate of your home’s value online:

Zillow

Zillow is the biggest and most popular home value estimation site.

Their behemoth home value database covers over a million homes in 450 various markets. The name recognition and fun factor scores very high as many find it easy and fun to explore through. The website is set in such an easy way that everyone finds it easy to use.

Zillow has designed Zestimate, which is estimates of various home values, which you receive by keying in the value of your home in the websites’ homepage.

It has a feature called “Make Me Move” that can help you in making up the decision of listing your home, and that’s what makes it a pioneer in this business.

This behemoth of home value tool allows users to shop for homes that may be available in their area.

Zillow.com offers wide analytic data on personal and public properties with historical trends included.

Zillow have their offices in Seattle, Washington at 1301, second avenue.

You can choose to call them on 1-206-470-700.

It also gives a countrywide real estate agent directory that illustrates all the deals an agent has done and customer reviews as well.

Zillow Home Values Zestimate for Frank Sinatra's Home in Beverly Hills
Frank Sinatra's home value is close to $16,272,044 according to Zillow

Visit Site: http://www.zillow.com/how-much-is-my-home-worth/

Real Estate ABC

This is the immediate alternative to Zillow because it offers home values that are much more accurate. RealEstateABC comes with one excellent and a great feature where it provides the list of comparable homes, which can be easily placed in the valuation. It is critical to have an idea of those homes in your neighborhood that are comparable to yours and that’s exactly what Real Estate ABC offers.

The data that is displayed on the website of this home value agent can only be described as priceless. You will get the exact amount a particular buyer paid for a house located within your area.

Real Estate ABC also joins up with Zillow .com to give you the correct Zestimates you would find on the Zillow website.

Here, you don’t have to type in any of your personal details to get a free estimate for a home value. It does not collect leads, and therefore no contact from anybody from the site is given to the public.

Real estate ABC comes with one excellent and a great feature where it provides the list of comparable homes, which can be easily placed in the valuation. There is also a guide to buying a home that is available in the website.

The data that is displayed on the website of this home value agent can only be described as priceless. You will get the exact amount a particular buyer paid for a house located within your area.

Real Estate ABC also joins up with Zillow .com to give you the correct Zestimates you would find on the Zillow website.

Real Estate ABC have their offices on 3705 Quaker bridge Road, Trenton, New Jersey 08619.

Contact them on (609) 689-4670.

Eppraisal.com

The way this website operates is similar to most of other sites, but one thing that stands out is that apart from proving prices of various homes, eppraisal.com offers demographic data about the surrounding area. It mostly applies data from public archives to other information like current refinancing, employment and education rates of a particular area.

It has a property valuation estimator that allows you to type in your home address and you will receive all aggregates based on the aggregate system of the neighborhood.

Eppraisal.com also offers demographic data about the surrounding area. It mostly applies data from public archives to other information like current refinancing, employment and education rates of a particular area.

It has comprehensive list of homes and other needed real estate information.

At times it provides its estimates of on the value of homes, while uses Zestimates in other cases.

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Realtor.com

This is another great home value website that offers listings of various property for sale and their values. It is the officially associate to the National Association of Realtors. Apart from that, it goes overboard to provide assistance to those who are looking for realtors. It certainly a home to professional real estate agents that offers solution to problems related to home valuing and sale.

This site also goes a notch higher by providing the users an opportunity to know about the sale history of their homes. You can find all details of your sold home including the date that purchase was made and the price. Realtor.com has a section where you can view different pictures of other homes in your area listed with the prices they were bought at. Realtor.com does not stop there; it goes ahead to offer other relevant information like a list of private and public educational institutions in your area to help you make an informed decision when selling your home or refinancing your mortgage.

Property pages available here provide list of all upcoming open houses as well as the local market data.

It has a mobile app that allows you to use your fingertip to search for homes and school district.

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SmartHomePrice.com by SmartZip

SmartZip is another fantastic tool for determining your house value. After logging in into the website, click on the “Don’t Have a Key Code” link. This link is located under the Get Home Value button. Once you have done all this, key in your address.

The page will then display a smartly generated report, which contains transaction prices and sales of similar properties. Additionally, it will show a report of neighborhood ratings, all aimed at giving you an insight regarding the trending economics of the area. In general, this site offers an accurate valuation of your property, presenting the data in a beautiful user interface.

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Homes.com

Regarding functionality and mode of operation, Homes.com is very similar to Zillow. Key in your address on its homepage, and choose For Sale, Home Values or For Rent.

If you want the Home Values, you’ll get an aerial portrait of your neighborhood, with the estimated value of every home, and that includes yours. The site provides you with top-quality information about your area, including the median age of the residents and unemployment rate.

More importantly, after clicking on your house’s image and you have chosen the Home Values, the site will display two options for additional details: The SEE MORE INFO option gives a bigger picture of your property plus the estimated sales price. If you are selling, you’ll get the names plus the contact information of agents who may help you.

The other option, CLAIM YOUR HOME, helps you provide the key details about your house which may be missing, such as the number of bathrooms. The site is easy to use and provides accurate estimations.

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Homegain.com

Apart from this site widely used as a tool for home shopping, it recently introduced a segment where you can search for your home’s value at no cost.

It works in a very easy to use and simple manner. All you will do is to key in the zip code of your home then enter your home address to determine the current value of your home and how the value have transitioned with time. It provides census and market data.

It also provides the full details of homeowners that are selling their properties. Works with agents who can direct buyers to available homes that are nearby.

Chase Mortgage Services

This site generates a free and very quick estimated value since it uses CoreLogic’s technology in the Multiple Listing Service system.

It is the only home value estimation tool that allows you alter the information you have provided to your home. This is done so that consumers can get an estimate that is accurate and precise.

Chase Mortgage Services also gives details of homes that have been used to determine the value of a given house.

Besides, Chase also displays information on various neighborhood trends and recently sold homes.

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ForSaleByOwner.com

This website appears new to many users but is an averagely good tool. It has a tool in it known as Pricing Scout that provides the average of the comparative market and regression analysis that helps in estimating the value of a home. ForSaleByOwner.com also displays a map that has latest sales of properties that are comparable.

ForSaleByOwner.com's Price Scout Report
According to ForSaleByOwner’s Property Scout, Frank Sinatra’s Home in Beverly Hills has a market value of
ForSaleByOwner.com's Price Scout Report
According to ForSaleByOwner’s Property Scout, Frank Sinatra’s Home in Beverly Hills has a market value of over 12 million dollars.

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Redfin.com

You will be required to sign up for this sign before you start using it. Home shoppers who might then desire to physically view a home are connected with an employed Redfin buyer’s agent, and then Redfin.com will offer you a rebate based on the price of the home.

You will get a total cost that ranges from 4 to 4.5 commissions anytime you use Redfin.

It has an option called “Last Call” that tells you when other buyers come in with bids so that you counter well. Home buying classes too are available in various markets it serves.

This site has also gained popularity amongst the stakeholders in the real estate industry. It comes with a rare opportunity of allowing users to learning about the entire neighborhood by entering various details. Apart from that, it will displays pictures and a load of other information. If you want to know the real comp that was used to determine the value of your property.

Trulia.com

Trulia.com is another website that focuses mainly the lifestyles factors of an area, that includes certain stores proximity, cafes, restaurant and statistics concerning crimes.

The search tool allow you to know properties in various locations after which you can set a commute time to a certain location.

Nearby properties that are in the progress or just about to begin can also be identified using the two apps for Apple and Android. Besides just offering homes for rent or purchase, it offers a wealth of tools such as mortgage calculator that will help you determine how much mortgage you can afford.

Trulia home realtors work from Monday to Friday from 7 am to 4 pm. Contact them on 888-466-3501.

Experience fun and ease the next time you want to check the value of your home by using any of the listed websites. They will be of much help even if you don’t plan to sell.

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Honorable Mentions

Rentometer

Rentometer does not go the path of offering the value of a particular home but instead gives the estimated rent that a particular house is rented for. It is another approach that is unique in the market and works pretty well.

Once you sign up or log in to your Rentometer Account you can be able to get the values of properties around you and even compare their rents. They use a customized tool known as Rent-O-Meter to provide rental values for various homes.

RealtyTrack.com

HomeJunction.com

HouseCanary.com

The technology, however, does not do everything that is required here. What they provide is some valuable hints on your home value but fails to deliver the final word.

One thing that has been proved is that there are no accurate numbers when it comes to establishing various values of homes. Such instances where three or four real estate agents would give contradicting figures for one house has been rampant in this entire exercise. Perhaps this explains why the value is always referred to as estimates. It does not necessarily matter which medium has been used to provide the estimate, be it through human or use of technology; what is important is that it remain an estimate.

The kind of data that is accumulated into a given estimate must be considered carefully when looking at your home value. However, this at times can be very hard, given the fact that, certain homes are unique when put into comparison with others in the neighborhood. But again, if you reside in an area where almost all homes are the same, then your estimate is likely to appear less accurate. The number of home sales around your neighborhood also plays a prominent role. If you stay in an area that has seen a higher number of home sales, then you are likely to obtain much accurate estimate compared to an area with fewer home sales, where technically, there is no data to work with.

The variation that may be seen in the data is just a reminder of what the home value is- an estimate. Humans and technological machines have disagreed in this area so many times. This has been witnessed when it comes to the sealing of the deal, where buyers and sellers have to negotiate in real time. It is an opportunity that ends up determining the actual value of the home after the different skills of negotiations have come into play.

People have various views on different topics all across the universe. Trading one house with multiple buyers will attract different value prices, and the closing one would not be the same to the first one. This just illustrates how there are so many opinions of value, especially in the housing and property sector.

The kind of data that is accumulated into a given estimate must be considered carefully when looking at your home value. However, this at times can be very hard, given the fact that, certain homes are unique when put into comparison with others in the neighborhood. But again, if you reside in an area where almost all homes are the same, then your estimate is likely to appear less accurate. The number of home sales around your neighborhood also plays a prominent role. If you stay in an area that has seen a higher number of home sales, then you are likely to obtain much accurate estimate compared to an area with fewer home sales, where technically, there is no data to work with.

Houses that have proved hard to be estimated by either human or automated tools are those that are situated away from others. These homes are technically not comparable and are referred to outliers as a result. Online tools that are used to tell an estimate of a particular home use data that is publicly available. This is what they process through their computer systems to derive various value estimates.

Watching the value of homes at close range is imperative especially to those who are in the planning of selling their homes in the future, because you may want to know exactly when the deal is right so that you do the business. It is also equally useful in determining to you on what property you are paying tax for; the value could be an artificially inflated or the other way round, so it’s good to know.

A decline in value of homes has been witnessed in the near past, it this could be a great to get to know top online tools that be used to check the value of your home.

A real estate agent in your neighborhood can offer you the estimate by only looking at comparable homes in your place of residence to see how much they sold for and other factors, however, if you need a quick look all by yourself, then check these top home value websites.

But even if you are not planning to sell right away, having an idea about the approximate value of your home and the market trends in your neighborhood is worth your time.

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