How Do I Know What My Home Is Worth?
| Are you curious about your current home value? Knowing the answer is important for a lot of reasons. Your home’s current worth helps you know: Your equity Your refinancing or loan leverage Whether to challenge your property tax valuation Whether it makes sense to sell and, if so, what the list price should be It’s important to know your current home value, because your home’s worth changes over time. For example, in Denver / Aurora / Lakewood, Realtor.com predicts home prices will increase 5.4% in 2021. But getting to that answer is not as easy as typing in your address on Zillow (or Redfin, Trulia or Realtor.com). You’ll get an approximation that is at best within 10% or so of the real number. But there are two more disciplined and accurate ways to find out what your home is worth: 1. Comparative Market Analysis I can do this for you. What I do is look at prices at which comparable homes in your area sold or are currently for sale, and then I assess those prices in terms of specific differences with your home and what I know about the local market to arrive at a value for your home. 2. A Professional Appraisal You can hire an independent, professional appraiser. I can recommend an appraiser who I trust. To come up with your home’s worth, an appraiser looks at your property in its current condition, considers any improvements you’ve made, and then looks at comparable properties. The analysis is exhaustive and trusted by lenders. |
 Fannie Mae is projecting that the median home price across the U.S. will continue to rise in 2021, and that home refinancing will increase 40% year-over-year. JANICE HOVORKA RE/MAX 303-324-4705 janice@janicehovorka.com http://www.janicehovorka.com Five-Year Five Star Real Estate Agent |