Online Home Valuation This free online tool will provide you an estimate your home's current value based on recent comparable home sales in the area where you live using a widespread database. Accuracy is based on available data without any warranty. It is quick and easy, but does not answer questions you may have regarding location and current local trends. Professional Appraisal A professional appraiser should be a qualified, disinterested specialist in real estate appraisals, with expertise in your local geographic area. Their job is to make an estimate by examining the property, looking at the initial purchase price, and comparing it with recent sales of similar property. Fee is usually $300-500 for the service. Assessed Value by Tax Appraisers This value does not reflect a market value, but rather a value based on a percentage of appraised value for taxing purposes. Most homeowners feel the assessed value is too low, but then complain when property taxes are assessed. Sixty percent of US properties are assessed at a higher amount than current value, but it does not reflect what the homes will sell for.
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