What Is The Value Of My Property?

This is a very common question among homeowners, especially if they are thinking about selling a property.  You are going to find various opinions on what the value of your property is in today’s market.

Here are some options to research when thinking about selling a property.

Local Real Estate Agent

A local realtor can help tremendously when determining the current value of a property.  Their knowledge and experience is going to be one of the best references to use.  Just about any local realtor you contact, will take the time to do a market analysis on your property, without obligation to work with them.  Take advantage of their knowledge and if they do a great job, consider working with them.

Zillow.com

If you prefer to look up the value of your property without having to contact a realtor try Zillow.  This website can be helpful in guiding you towards a range in value for your property.  Please take their “zestimate” with a grain of salt, since their system is automatically generated just by recent sales in the area.  Sometimes, it doesn’t choose the correct houses that are similar to your property, especially when it comes to details like style, age and materials.

Trulia.com

Trulia is very similar to Zillow where it’s a real estate site that helps with home searches and giving you an estimate on the value of your property.  If you are going to use Zillow, I would recommend you search both of these sites, for a good comparison.  Maybe average the two values they come up with to give you a better idea on a “true” value.

Property Tax Bill

Your property tax bill is meant to determine an assessed value, in order to multiple by the mill rate to calculate your property tax amount.  Please don’t go off the assessed value on your tax bill, but their is a “market value” on the bill.  Use this as another opinion of value for your property and compare it to the other opinions of value.

Overall, use multiple points of reference when looking up the value of your property.  Don’t just use one source and expect it to be completely accurate.