Do you know how much your home is worth? You could be pleasantly surprised if you haven’t checked lately.
Across the nation, the median list price of homes is up nearly 6%. Here’s a bit of more good news: The inventory of single family homes for sale is down over 20% throughout the U.S.
However, just like the changing weather, the only thing that really matters is local real estate. In some areas, it was reported that the median list price rose an incredible 23%, while the inventory listings declined as much as 47%. Naturally, this caused a big sigh of relief for that particular area of the market. On the other hand, some areas in the Midwest watched the average price for home sales fall almost 10%, in spite of inventory dropping nearly 15%.
If you’re considering either buying or selling your home this year, understanding this data is critical. Even if you don’t intend on moving, it’s just plain smart to know exactly where you stand regarding the largest investment of your life.
In order to determine the value of your home without the help of an expert appraiser, simply visit one of the following three websites that offer a wealth of information and help homeowners verify how much equity they currently have in their home.
Zillow.com
Visit Zillow.com and simply click on “Zestimate” to verify how much your home is worth, or any other home you’re curious about. If you disagree with the Zestimate results, check the facts regarding your home to determine if they’re out of date or wrong. You can update the facts concerning your home on Zillow. However, you cannot remove your home from their website.
Zillow is also a hot spot in determining how much a property rents for. This is especially helpful if you’re considering renting out your home or if you’re an investor.
Bear in mind that each estimate is just a starting point to give you a rough idea of the value. It should not be used as a tool to perform market analysis or as a substitute for employing an expert home appraiser. Also, check out the feature “Make Me Move” on Zillow. If you’re not prepared to list your home yet, this is an interesting and fun way to alert potential homebuyers and test the waters. Enter your “can’t refuse” price and go from there.
Trulia.com
At Trulia, by simply entering your home address you’ll see what you’re home is worth. Keep in mind that these figures are not exact, but rather an estimate. Who knows? Your home could be worth even more! Trulia lets you edit or add additional facts concerning your property if any information is missing or incorrect.
Trulia is an excellent resource if you’re house hunting, whether you’re moving across the street or across the nation. Easily search for a home by city, state, or your zip code.
Along with ordinary searches based on the number of bedrooms/bathrooms or price range, Trulia lets you perform more detailed creative searches as well. Are you already familiar with the market but just want to view new listings as they emerge? Adjust your search listings to ones that were just recently added in the past week to see the latest listings on the market. Want to satisfy your curiosity without calling a realtor? Only search for open houses. Want a fantastic bargain? Search for homes in foreclosure or ones with recent price reductions.
Realtor.com
With an extensive list of multiple listings across the entire country, it’s easy to funnel a home listing on Realtor. If you’re completely serious about selling your property and want to view a revealing and detailed report on the value of your home along with other comparable sales in your local neighborhood, you’re at the right place.
Realtor is literally a treasure trove of important information regarding various real estate trends, mortgages, and other useful topics. For example, in the Home and Garden section, you’ll discover great advice on how to deal with typical home improvements and how to save money on your utilities.
Regardless if you’re ready to sell, buy, or stay put, visit one of these three invaluable sites to see where you rank relative to the current market. You can never have too much information regarding your investment.
