What is my home worth?

The value of your house is not based on what you initially paid for it, how much you’ve spent to improve the it or what Zillow Zestimates say it's worth! Your property’s value is what a ready, willing and able buyer would pay coupled with recent "comparable" home sales in your neighborhood. When calculating your home’s value, consideration must be given to the “subject property” and the sold properties “comparable properties.”

Furthermore, all-important step in getting the financing you need is through a home appraisal, paid by you and ordered by your lender. A real estate appraisal is simply that, an expert opinion of a certified, state-licensed professional who determines the market value of a piece of property. If your $500,000 dream home is really worth only $400,000, then the home is overpriced. A home appraisal also protects the bank from getting stuck with property that's worth less than they've invested; it also protects you from paying too much for a home.