How Many Price Tags Can Your Home Get?

Looking to find the value of your house? That is the easy part. There are dozens of companies offering free online home valuations. The difficult part is picking the right one, that is, if there is a right one.

Home valuation sites get their information from a variety of different public records. This information is compiled into a database that can be anywhere from 40-70 million properties. The sites then use a formula that calculates a price for your house based on property sales and market trends in the area. The end result is many times a very accurate pricing of your house, but it's not perfect. The problem lies in how much information each site has on the county you live in and how their formula will work for your specific area. What you end up with is a different value from each site and hence the question "Which price tag do you use?"

The answer to that question depends on how accurate you need the figure to be, if you are simply doing some estate planning or researching for buying or selling your house, then getting a value from 2-3 of these sites will give you a good feeling of what price range your house falls into. If you plan on selling your house you can use these figures as a planning tool, but it's not something you would want to set your selling price with.

If you are selling your house you should first talk to your real estate agent who can do a CMA or comparative market analysis for you. This will look at the most recently sold homes in your area, homes that many times have not yet made it into the public record files. The CMA is also filtered through the real estate agents experience with your area and houses like yours, so you get a figure that is closer to what your house's value is. If there are still questions on the price a professional appraiser can be called in who will look at the features, condition and other additions to your house giving you what should be the most accurate valuation for your house.

All three of these valuation methods have there flaws, and people can be wrong, so using all three of the methods will help you to not only sort through the price tags, but in the end find the right one.

For information on home valuation sites and finding a real estate agent at the lowest possible commission visit http://www.housessoldinmyarea.com/

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