Find Your Home Value
Home Appraisal Tips & Advice
Home Renters Beware: The Foreclosure Crisis Affects You as WellAugust 11, 2008
Home foreclosures have created an overlooked victim: what happens when the home you rent goes into foreclosure? The vicious circle of declining home values and rising foreclosures.
July 11, 2008
Home values drop when foreclosures rise creating a vicious circle. Is there help in sight or a way to take advantage of a declining market? Home Selling Success: What You Need to Know
July 11, 2008
Yes, the home selling market has slowed in the past year; however, houses are still being purchased on a daily basis. What is the secret to successful home selling? Home Value and Financial Planning
By Karen LawsonHome Worth Columnist
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How much is your home worth? The answer can provide a foundation to help you organize your finances. If you're not sure, you can use a free online home value calculator to get an idea. You can use your home value estimate to determine the approximate amount of your home equity. Home equity is a potential source of cash for repaying high cost consumer debt and for other purposes to help improve your finances.
How is Home Value Determined?
Real estate value is calculated using a number of factors, including age and condition of your home, the condition of surrounding homes, and real estate sales trends in your area. Other factors can also influence value, such as the presence of potential nuisances and environmental hazards. These factors are analyzed and interpreted to determine the actual value of your home. It's important to remember that home value calculator tools are designed to provide estimates and not precise calculations of home worth. When you apply for a mortgage, refinancing, or a home equity loan, your lender will probably require an appraisal of your property done by a professional residential real estate appraiser.
If you're planning to sell your home, having some idea of current market trends can help you decide when, or if, to list your home for sale. Recent news reports have focused on declining home values in many areas. Real estate professionals in your area can provide information about local trends, home worth, and recent home sales in your neighborhood. Home value calculator tools can help provide a basis for making financial decisions.
About the Author
Karen Lawson is a freelance writer with extensive experience in mortgage banking. She holds BA and MA degrees in English from the University of Nevada, Reno.