Considering Buying? GO HERE to perform a Full Home Search, or if you're a prospective seller, CLICK HERE to receive a Free Home Value Report. For any other questions, feel free to call me at (281) 599-6575, or shoot me an email at rdr@daleross.com.
There are several ways to value a property, and there are different ways to evaluate a property, depending on what you're valuing it for. Overall, online home evaluation sites are inaccurate, and I would also strongly suggest staying away from Zillow's Zestimate.
The tax-assessed value, Zillow values, and any other instant evaluations will not take into account the unique features that you have on your property. These are all the least reliable in terms of the true value of your home.
There are two distinct mortgage values. One of them is a mortgage refinance value. This usually comes out higher because the lender wants to be able to lend you as much money as possible. There is also a mortgage buyer appraisal, which doesn't necessarily indicate the market value. The market value is what you and the buyer finally decide upon.
An appraisal value is also not the same as the market value. The appraised value is what the bank determines your home to be worth in order to estimate a loan amount for the buyer.
If you have any questions about this or if you want to know more about the Houston real estate market, please don't hesitate to reach out to me!
