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Sunday, February 28, 2010

What’s My House Worth?

Submitted by Prudential Carolinas Realty

“How much is my house worth?” Even if you aren’t even thinking about selling this is a question that has probably popped into your mind recently. Maybe a for sale sign went up in your neighborhood and you wondered if your house would sell for more than that house down the street.

The vague answer is your home is worth whatever a ready, willing and able buyer pays for it at the time you put it on the market. But if you don’t have your house on the market there are a few tips that can give you an idea of where your home stands in the value department.

You can look online for comparable homes for sale in your neighborhood with similar square footage and bed/baths. REALTORS® use comparable homes active, sold and expired to help price your home accurately at the time you put your home on the market as a starting point for what your home is worth. Just make sure your home is really comparable to your neighbors before you start comparing.

The value of your home is going to change with market conditions and comparable sales in the area over time. If you want to keep up with your home value without doing the work, we have developed a free home value report that will give you monthly updates on neighborhood activity so you can see what new listings came on the market and at what price, which prices have been reduced and which homes go under contract. This way you can see what the market is doing and when you are ready to sell you don’t go, "My house is worth what!?!"


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