Do you know what your home is worth?

Assessed property values, appraisals and online estimates cause a lot of confusion around the true value of your home. As one of the largest investments of your lifetime, it’s important to have an understanding of your home’s actual value.

Assessed values are determined by your local taxing body.  They use fomulas, consider average sales from several years past and most often have never visually inspected your home.

Appraisals are performed for a variety of reasons but typically are used by lending institutions to determine the amount of money a lender is willing to loan against a property, for purchase, refinancing or line of credit.  Only in the case of loaning for a purchase does the appraiser have a “true market value” from a purchase contract to target…true market value being the price a buyer is willing to pay and a seller is willing to accept.  So be careful of assuming a buyer will pay the appraised value of your home.  Current competition has a huge impact on the buyer’s decision and much less impact on the appraiser’s valuation.

On-line estimates are a very broad swipe at home values.  It’s interesting to see how they value your home.  If your home is very similar to all others in your neighborhood, these valuations may be consistent.  But they are using very general public information and can’t take into account a homes upgrades, condition, etc.

As your local real estate experts, we have access to a wealth of information, not only about national and regional trends but also what is happening right in your neighborhood. We know the local market.

One of the services we offer is a free real estate review, pulling market data and information specific to your neighborhood. Our clients always find it eye-opening to learn more about the local trends and what it means to them.

There’s value in an annual review, whether you are 1) considering upgrades to your home, 2) making sure your homeowner’s coverage is adequate or 3) thinking about selling your home.

Contact Brockette Homes for your complimentary real estate review.