3 Ways To Discover What Your Home Is Really Worth

By Shamus Greene

Shamus Greene is a Realtor and the team owner of the Shamus Greene Realty Group with United Real Estate Louisville. Shamus has a strong background in the mortgage industry. He began his real estate career in 2005 as an independent agent and developed the Shamus Greene Realty Group in 2014.

Are you curious about the value of your home? Whether you’re considering selling, refinancing, or simply want to stay informed, understanding your home’s market worth is essential. Today, we’ll explore three common methods for assessing home value and how to navigate them effectively.

1. Online platforms. Websites like Zillow and Trulia offer convenient tools to estimate home values swiftly. While these platforms provide a ballpark figure, they rely on public records and algorithms, often overlooking crucial factors like recent renovations or unique features. Consider this method as an initial exploration rather than a precise valuation.

2. Comparative market analysis (CMA). Engaging a professional realtor for a Comparative Market Analysis (CMA) offers a more tailored approach. By analyzing recent sales of comparable properties in your area, Realtors can provide a detailed assessment. They consider various factors such as square footage, condition, and location, adjusting values accordingly. While not as comprehensive as an appraisal, CMAs offer reliable insights at no cost to you.

3. Professional appraisal. For the most accurate valuation, hiring a professional appraiser is unparalleled. Appraisers conduct thorough on-site inspections, taking precise measurements and capturing essential details often missed by other methods. Though it comes at a cost, typically in the hundreds of dollars, an appraisal provides a precise valuation tailored to your home’s unique attributes.

If you have any questions or need assistance assessing your home’s worth, don’t hesitate to reach out by phone or email.