Local Real Estate News

From your local Sacramento neighborhood expert, Carlos Montoya

What is Your Sacramento Home Worth

sacramento home worth

How Do I Figure Out What is My Home Worth?

Odds are pretty good that if you’re selling a home in Sacramento, you’ve asked yourself at some point – “what is my home worth?“. This is yet another reason why it pays to always deal with a certified Realtor when selling or buying a home in Sacramento. A real estate agent will be able to give you a complete market analysis including giving you an appraisal on what your home is worth if you’re trying to sell it.

Getting an Accurate Appraisal Is On You, Not Your Broker

The first step to figuring out how much your home is worth starts with an appraisal. These used to be done in fast order but all that has changed. These days it’s a lengthy process, think weeks instead of days. After the real estate market collapse the federal changed the laws regarding appraisals and established guidelines called the Home Valuation Code of Conduct (often referred to as the HVCC), a set of rules that became law on May 1, 2009 and now determine how appraisals should be made. It’s changes the process so that your mortgage company can’t hire its own appraiser.
How much is your home worth?

What If I’m Trying To Sell My Home Myself?

While it’s never advisable to go it alone unless you have prior experience (even those DIY’ers with previous experience will seek out a professional for difficult deals), there are a bevvy of online tools at your disposal to get a ballpark estimate on what your home is worth before getting a professional appraisal.

Try Zillows Zestimate Tool to Get an Estimate on What Your Home is Worth

7 FREE Tools For Getting An Estimate On What Your Home is Worth

  1. Zillow: This is the pioneer of the home value estimating tool, and the company continues to refine how it arrives at its Zestimates.
  2. Redfin: This new tool shows you photos and listing information for the exact comps used to arrive at the value of your home.
  3. ForSaleByOwner.com : This site’s Pricing Scout tool gives you the average of a regression analysis and a comparative market analysis to estimate the worth of your home. It also shows recent sales of comparable properties on a map. You have to register to use it.
  4. Chase: This tool allows you to change the information about the house to arrive at a more precise estimate, plus provides information on recently sold homes and neighborhood trends. You can also use it to estimate the value of improvements you’re considering.
  5. Bank of America: This tool shows comparable neighboring sales on a map. It provides only a range of values, not a single number.
  6. Surefield: This site lets you narrow or widen the range of comparable homes, plus exclude specific comps from the list.
  7. eppraisal.com: This site uses data from public records and lists homes sold recently nearby.

Buying or selling a home in Sacramento? Speak with Sacramento Real Estate expert, Carlos Montoya!

Leave a Reply

Your email address will not be published. Required fields are marked *