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What is my home worth?


Question Posted Saturday March 15 2014, 6:35 pm

With the economy the way it is, it seems like a lot of the home cost estimator things on-line are WAY off now. :( Does anyone know of a way to get a somewhat accurate idea of how much our home is worth now? Thank you!

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NinjaNeer answered Sunday March 16 2014, 12:39 pm:
Your best bet is to look up house values using a realtor tool for your area. You don't say what country you live in, but for Canada or the US you can use MLS.

Input the number of bedrooms/bathrooms, and look for houses in your area that are similar to yours. You'll get a good idea of what the going price is for houses with a variety of features.

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rainhorse68 answered Sunday March 16 2014, 4:11 am:
The 'real value' is how much people are willing to actually pay, right now. So get information on similar homes (similar size, condition, amenities, location etc). Look retrospectively, that is for actual COMPLETED SALES. How long were they on the market? Did the seller have to come down to get a sale? More than once maybe? Bear in mind that location makes the biggest difference, how close the property is to a city centre is a massive price changer. I'm in the UK and the price you'd expect to pay for a good sized house with a decent sized garden/plot of land would not buy anything at all, (not even a flat) in a London district like Chelsea or Knightsbridge. They're fashionable and bang-up close to the big city jobs and big city salaries of course, with no hours of travelling to work every day. I believe extensions (unless very big) or conservatories etc you may have added rarely add anything like the cost of adding them to the cash value, though it might be the extra feature that seals the sale if the viewer particularly likes it. Don't know where you are, but in the UK the practice of doing some largely cosmetic work to a tatty house and doubling it's value has long passed. The bubble burst a bit on this one, and falling prices in the (global?) recession left the last few badly stung, having paid more for a house in need of TLC than a pristine example would now command. Has been a tough time financially all round, hasn't it? They're pretty much like anything, whatever anyone says or claims, the real value of anything is how many pennies people are actually handing over right now.

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