How to Estimate your property value according to current market rate?
If you are wondering how to estimate your property value according to current market value then you will be amazed to know that now it is relatively simple and easy. Just scroll down to know the following tips that can help you to estimate the property value according to current market value.
Firstly, it is suggested that you should find out a website or take help of resourses to obtain the current real estate sales data of the area you are living. You may simply visit Tax Records websites of your local city or lese you may take help of the official websites of the local realtors. Moreover, national websites are also available to provide you the information you are looking for.
By taking help of these websites you have to locate at least three houses that were sold in your area within last 4 to 6 months. In order to know the precise information about the present market it is vital for you to find out the recent real estate sales data of your area. Moreover, you may also look for other houses that are out for sale, but remember that the amount asked by the seller will not be paid by the potential purchaser of that house! That is the reason why you should always collect details of the house that were already sold. Once you get the recent real estate sales data of your area try to find out a house that is located in the similar school zone and the house should be similar in terms of construction, features and size.
Secondly, you need to evaluate the average sales price of the three houses in your area. If you notice that the sold properties don't have the amenities your property possesses then add some amount to your property value for those upgrades and amenities. For instance, if your property possess a small lawn and car garage for two cars, but none of the others did then you can simply add some amount to your property value. Similarly, if your property doesn't have the things like the other houses then you need to subtract the value of your house. In order to determine what amount to be added or subtracted you need seek assistance of a professional such as Tax Assessor, Realtor or Appraiser.
If you follow the aforementioned steps then you can gather the essential data with the help of which you can have a close estimate of the property value in the current market. However, it is a method that will provide you a rough estimate about your property value. If you want to get the exact market value of your property in the current market then it is recommended that you should seek assistance from a local real estate agent. A professional real estate agent will let you know the exact market value of your property by considering various factors. They not only consider the locality of your house but also they consider the total area of your house, features and amenities of your house to estimate the total value of your house according to present market value.
Firstly, it is suggested that you should find out a website or take help of resourses to obtain the current real estate sales data of the area you are living. You may simply visit Tax Records websites of your local city or lese you may take help of the official websites of the local realtors. Moreover, national websites are also available to provide you the information you are looking for.
By taking help of these websites you have to locate at least three houses that were sold in your area within last 4 to 6 months. In order to know the precise information about the present market it is vital for you to find out the recent real estate sales data of your area. Moreover, you may also look for other houses that are out for sale, but remember that the amount asked by the seller will not be paid by the potential purchaser of that house! That is the reason why you should always collect details of the house that were already sold. Once you get the recent real estate sales data of your area try to find out a house that is located in the similar school zone and the house should be similar in terms of construction, features and size.
Secondly, you need to evaluate the average sales price of the three houses in your area. If you notice that the sold properties don't have the amenities your property possesses then add some amount to your property value for those upgrades and amenities. For instance, if your property possess a small lawn and car garage for two cars, but none of the others did then you can simply add some amount to your property value. Similarly, if your property doesn't have the things like the other houses then you need to subtract the value of your house. In order to determine what amount to be added or subtracted you need seek assistance of a professional such as Tax Assessor, Realtor or Appraiser.
If you follow the aforementioned steps then you can gather the essential data with the help of which you can have a close estimate of the property value in the current market. However, it is a method that will provide you a rough estimate about your property value. If you want to get the exact market value of your property in the current market then it is recommended that you should seek assistance from a local real estate agent. A professional real estate agent will let you know the exact market value of your property by considering various factors. They not only consider the locality of your house but also they consider the total area of your house, features and amenities of your house to estimate the total value of your house according to present market value.