Get started below to get a home value estimate for your house for free. Please remember, often times we will have to come out in person to give you a more exact valuation, as each home is unique.
How is Home Value Determined?
There are numerous factors that go into the value of a home, including:
- the home’s location
- the age of neighbors in the neighborhood
- new construction plans in the area (hospitals, schools, etc.)
- local amenities
- history of homes sold similar to yours
- any improvements made to the home
What is Market Value of a Home?
The home value process encompasses market value, true market value, and assessed value. These can easily be mixed up – and often are. So what is the real difference?
Market Value is the determination of what price a house will sell at within a reasonable time period.
This step is taken a little further by Appraisers, whose goal is to find the True Market Value of a home. This is determined not only using data from comparable homes, but also by taking in consideration the physical condition of the home.
Assessed Value is determined based on the appraised value, market value, or a combination of the two. It is the value that is derived by local tax officials to determine the amount of property taxes paid on the home each year.
Commonly, home values will pull from the market value. This is why is is important to get a second-opinion in-person for a more accurate report. To set up a consultation, contact our team at (702) 838-7700 or info@lasvegashomessold.com.
Want to Know More?
To get further details on what goes into the value of your home or to get help in selling your home, contact our team today at (702) 838-7700 or info@lasvegashomessold.com.
