How to Find Out How Much Your House is Worth With for Free

Your Home's Value

Condition

The condition of your home and any of its unique features can add or detract value from your home.

Market

Is it a buyers' or a sellers' market? The answer makes a big difference when it comes to your home's value.

Location

Your community, neighborhood, and even your block can play a large part in your home's worth.

A home value report is a more accurate assessment of your home's current market value than an online estimate because it evaluates your home as a total package, including the home's condition, the real estate market in Minnesota and your home's location.

Homeowners looking to sell may find that after years of building memories in a house or investing in home renovations, it can be difficult to take an unbiased approach and put a price tag on a property.

We are here to help you - we'll give you an honest consultation, listen to your thoughts and answer your questions.

Here are some insights that you can use to determine the best steps toward discovering your home’s true market value.

Home Value Insights

Estimated Market Value

Also known as a property’s tax-assessed home value, this figure indicates how much a home is worth through county tax records. Since this home value is based on historical sales data and mass appraisal techniques, the records can be up to two years old.

When listing your home on the market, you might consider getting a second opinion on your property value before selling it for its estimated market value — especially if you’ve updated the master bedroom or invested in a new pool. Choose one of your local real estate agents.

Automated Online Estimates

Another way to assess the market value of a house is through an online market analysis. A computer-generated analysis compares your home to similar nearby properties that were recently sold, in order to estimate your home’s value.

The comparison is based on factors like home location, size, condition and amenities. Remember, these comparisons are generated by an algorithm, so they can only take into account the variables shown in the data, which may not give you a complete picture of your home’s true value.

When it comes down to determining your home’s value before selling, it’s wise to hire a local REALTOR who can provide a more detailed analysis.

In-Home Comparative Market Analysis by a Professional

Although it may seem convenient to get a home value check via tax records or a quick online estimate, you’ll want to have an expert step foot in your home to provide a detailed and specific market analysis of your house.

After all, a computer-generated analysis can miss a lot of details — perhaps your house has special features, including:

-Original hardwood floors
-Remodeled kitchen
-A his-and-hers closet setup that’s straight out of HGTV
-Backyard on a preserve that can never be developed
-Location in an exceptional school district

Because every home varies — and even a small difference in location can make for a big variance in the market value of a house — it’s important to have a local expert evaluate the home in person so they can present you with their qualified evaluation.

Reach out to a Minneapolis REALTOR® who knows your area to get an in-person home value estimate today.

A Home Pricing Trick

You could consider listing your home for sale at a “round number” price point. It may sound a little odd but our analysis has found, for example, that homes listed for $250,000 sell faster than homes listed for $249,000.

When it comes down to it, this home pricing trick could make a difference in how quickly you’ll get offers and how much you can net from potential buyers.

Key Points & Next Steps

Whether you want to learn the market value of your home or you’re interested in learning more seller insights, get in touch with local real estate expert Andrew Beitler of Minnesota My Home | National Realty Guild today.