House values fluctuate almost daily, especially in today's market. So, if you are planning to sell your home, need to refinance or get a home equity loan, or are simply curious about what your home is worth it is important to contact the experts.
To determine what your home is worth many factors have to be taken into account:
What price did the most recent similar homes in your area fetch?
What condition is your home in?
Is your home in a desirable location (close to the beach, nice view, on a cul-de-sac)?
Are there a lot of homes for sale in your neighborhood?
How are the local shools?
Are the crime rates in your area high or low compared to other areas?
How desperate are the buyers and sellers?
If you are looking to get equity from your home or refinance to get a lower rate or cash out, all the above factors come into play and more. Your credit rating is likely to be one of the most important factors. Lately banks have been shying away from "sub-prime" loans, which means people with questionable credit scores will very likely pay a much higher rate and will be required to put more money down towards the price of their home loan. In fact, many lenders simply will not write new mortgages if credit ratings are low.
However, many people are simply curious what their home price would be if they were to list their home for sale. This is where a consultation with a real estate agent is the best plan of action. You can get a free home estimate from practically any real estate agent, especially if you are considering selling your home. You would be under no obligation to pay the agent unless you signed a sales agreement with them. So, why not get a free consultation and find your true house value today?