As you prepare to sell your home, your first big question will likely be, “What will be my listing price?” This is a tightrope decision that requires just the right balance, and it starts with knowing your home’s value. To find the Goldilocks price point, most real estate agents use the sales comparison approach. In this post, we’ve asked two top real estate experts to share insights on how this approach plays a key role in your home sale, how it works, and another pricing option you might need. How Much Is Your Home Worth Now? Home values have rapidly increased in recent years. How much is ..read more

Home appraisals are frequently used in real estate to determine property value for various purposes. Lenders require appraisals when you take out a mortgage or refinance a home. A home appraisal may also be necessary to settle an estate or price a home to sell. So, how much is a house appraisal if you need one? Although web estimates place the average cost of a single-family home appraisal somewhere between $300 and $400, these online figures tend to skew a bit low, according to real estate experts. “Almost anywhere in the country, the minimum amount necessary for a credible home appraisal is ..read more

Whether you’re thinking about selling your home, borrowing from your home equity, or canceling private mortgage insurance (PMI), it’s worth considering how to increase home value for an appraisal. While you can’t control every aspect of how your home is valued, properly preparing for a home appraisal can assist in making sure credit is given where due. If you’re selling your home to a buyer prequalified for a home loan, it’s important to prepare for the appraisal. This step will be required before closing to determine the amount of money a lender is willing to provide. Home values across the n ..read more

You’re getting bombarded with phone calls, emails, text messages, and even fliers tucked into your door with offers to buy your home. This makes you wonder: what is my home worth right now? How can I get a free home valuation? How do I find appraisers near me? We spoke with top real estate agent Joe LoCicero of 54 Realty in Florida and licensed appraiser Diana Benson of Benson Appraisals in Phoenix to provide expert advice when considering an appraisal. Additionally, we’ve created a list of best practices and tools to help you find a qualified and licensed local appraiser. Connect with a Top ..read more

People looking to sell their homes often encounter two terms that both try to convey the value of their house: market value and appraised value. In real estate, these have distinct meanings, and it’s helpful to understand the difference. When you decide that you want to sell your house, you might use a tool like HomeLight’s Home Value estimator to get a ballpark idea of its market value and how much you could ask for it, or work with a top agent to develop a pricing strategy for putting your home on the market. Want a Peek at Your Home's Value? A great starting point is HomeLight’s Home Valu ..read more

Whether you’re a first-time seller or a seasoned pro, the appraisal process used to determine your home’s fair market value can be a little intimidating. Lenders require the appraisal to ensure they’re not loaning the buyer more money than the value of the home. So if the appraisal comes in lower than the sale price, your buyer will need to come up with the difference in cash or negotiate to lower the sale price. And if you can’t reach an agreement, your buyer can walk away from the deal thanks to their appraisal contingency. Connect with a Top Agent We’ve crunched the numbers on local housi ..read more

It’s natural to feel uneasy when the home appraiser shows up at your house. After all, there’s a lot riding on your home’s appraised value. If your appraisal comes out lower than you planned, it could end up delaying or disrupting your home’s sale. Fortunately, by understanding the home appraisal process and taking a few steps to shore up your home’s value, you can cut down the chance you’ll run into appraisal problems. In this article, we walk you through the role and objective of the appraisal, ways your appraiser calculates your home’s value and explain what you can do to help make sure the ..read more

It’s not a bad time to get your house appraised. Home values across the nation soared between 2020 and 2022. Even with higher interest rates reducing the number of homes being sold, the resulting decline in prices has not been enough to erase those gains. If you’re curious about how your home value has weathered the ups and downs of the market over the past few years — especially if you fall into one of the categories below — it may be time to consider an appraisal. Follow these steps on how to get a home appraisal in preparation of selling or whatever real estate needs you may have ..read more

If you’re selling to a buyer backed by an FHA loan, your home must clear an FHA appraisal for the loan to close. The FHA appraisal determines a property’s market value and ensures that the property meets the U.S. Department of Housing and Urban Development’s (HUD) minimum property requirements. For context, the Federal Housing Administration created the FHA loan program to help more Americans afford houses with government-insured home loans that are easier to qualify for than most conventional loans. Borrowers can qualify for an FHA loan with a credit score as low as 500 with a 10% down paymen ..read more

With a stellar offer in hand, you’re relieved to have the bulk of your home sale behind you. But the deal isn’t set in stone yet. There are several steps ahead that could impact your ability to close, including the appraisal. A home appraisal is a professional assessment of your property’s value, performed by a licensed appraiser. We spoke with Jolene Jacobs, a top agent who sells homes 55% quicker than the average Royal Oak, Michigan real estate agent, to help explain to sellers what to expect from a home appraisal. Get an Estimate on Your Home's Value While not a substitute for a full, pro ..read more