There have been a lot of ups and downs in the housing market over the last decade. Because of that, many homeowners feel left in the dark when it comes to their home’s value. Finding an accurate value of your home can feel daunting. But don’t worry – you can easily find out how much your home is worth using one of the following resources!
There are plenty of private and Phoenix Metro Area county appraisers who can help you get a very accurate idea of what your home’s value is. Appraisers extensively investigate your home from foundation to roof. It can take a while and can be a little costly, but this will give you possibly the most accurate value for your home.
While you may be surprised by how much your home is worth, there is a chance that it is actually worth less than you initially thought or hoped for.
If that’s the case, you can always sell your home quickly to a cash home buyer, who will give you at or near the value of your home, usually within just a couple of days!
Comparative Market Analysis (CMA)
You can do this yourself, which means you can save a lot of money. It won’t give you the most accurate value but can give you a fairly solid idea. You can do this by going to home selling sites like Zillow and Trulia and looking for recently sold homes in your area (typically, within the past 3 months).
By comparing your home and amenities with the others, and since it’s in a similar area, you’ll have a decent understanding of your home’s value.
Keep in mind that if your neighbor sold their house for significantly more than other homes nearby, it’s likely because they had upgrades like in-ground pools or extensive remodeling done.
To calculate the fair market value of your home using your most recent property tax bill, you have to do a little math. Most states like Arizona rate it at 80-90% of your home’s value. To make it easy, let’s say that your assessed value is $8. That would mean that your home’s FMV would be $10 (because 8 is 80% of 10).
You can also lookup home value estimators online. These sites come with a plethora of tools that take into account both public and private data. If you go with this option, you’ll need to know the square footage of all of your rooms, including kitchen, bathroom, garage, etc. Using its extensive database, it’ll be able to give you a fairly accurate value estimation.
At the end of the day, you may still want to go with a cash home buyer, especially if you’re wanting to move right away, need money fast, or are wanting to split profits with a business partner quickly. If you want to see how much your house is worth in cash for a quick sale today fill out our offer request form or call Andrew The Home Buyer today!