What is your home worth?

Minneapolis, MN:  Everyone wonders what their home is worth, especially if you are thinking of selling the home in the near future. So what is your home worth, and how do you figure out it's value?

If you are thinking of selling soon, reaching out to a Real Estate Agent to do a fair market analysis will zero in to a very similar number to what an appraiser might say. This is pretty accurate.

Most of us are just curious, so without an actual appraisal, or a market analysis from a Real Estate Agent,  we suggest taking an average of multiple free online home value estimator websites to give you a ballpark value of your home, not just one. Tax value is also not accurate for what a home may sell for.

I recently sold a rental property I've owned for years. Here was my experience:

• The home I just sold went for $32,700 MORE than it’s county tax value.
• It sold for $13,900 LESS than one online home value estimator.
• It sold for $18,200 LESS than Zillow's 'Zestimate'
• It sold for $22,400 MORE than another online value estimator from a real estate company

All these worked out to average a total of $5,750 MORE than what my property actually sold for.

Thinking of buying a home soon?

Our next housing market tip is to reach out to a professional Loan Officer before talking to a Real Estate Agent. This way you know you can get financing, you know what ballpark payments might look like, and you know what price range you can afford.  All great information to know before getting into a car and driving around looking at homes.

With over 25-years lending experience, I've seen and dealt with just about every possible situation out there.  I lend in Minnesota, Wisconsin, Iowa, North Dakota, South Dakota, Colorado, and Florida. Click the apply icon below, or call us at (651) 552-3681.

Cambria Mortgage is an Equal Housing Lender, NMLS 274132
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