How does one determine current market value for a home?
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My home is not paid off. I owe less than $10,000.00. I would like to get a consolidation loan for some unsecured loans, borrowing against my home for collateral, if I can. It's not a fantastic house, but I know it is worth more than what I still owe on it. Is this a possibility, or should I just keep plugging away at my debt with monthly payments? Any ideas or suggestions would be helpful.
How does one determine current market value for a home?If you want to get an idea of what your house might be worth you can do a couple of things:
1) ask a real estate agent to do a comparative market analysis. They should do one for free.
2) Go to a site like www.zillow.com and see if they can give you an estimate of your house. This is free, but can sometimes be quite a bit off.
3) Look at your property tax bill. Depending on where you live, it might have an estimated market value of your house.
4) Ask your mortgage company. They are a good place to start if you want to get a HELOC (Home Equity Line of Credit) or refinance your house.
How does one determine current market value for a home?Two ways....
1) Look in the paper or those monthly catalogs of homes for sale around your neighborhood. Look for ones that are similar to your own home, and at their selling prices. That will give you a feel for your home's worth.
2) Look up a professional appraiser, and they can determine your homes worth (for a small fee, of course).
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