For months now everyone has heard about the crashing of the real estate market or slumping home value prices, thanks to the media and industry experts blasting doom and gloom predictions about the real estate market all over the place. Properties listed with a home value over $400,000 are going slowly, usually sitting on the market for a year or more. Whether you are looking to buy a house, sell your house, refinance or research affordable neighborhoods, you have the power to find accurate home values.
The state’s median household income has stayed near the national median income at about $44,000 in 2005. Real house prices display a pronounced hockey-stick pattern over the past 140 years. You should always consult a local real estate agent for a comprehensive market analysis to determine your home’s value.
Lenders require an appraisal before they’ll approve a mortgage, but as a property owner, you can hire an appraiser to estimate home value at any time. Home values fell 1.10% nationally in May, but posted a 3.54% year-over-year increase, according to the Quicken Loans HVI.
Whether you’re looking to buy or sell a home in the near future, or even just want to track your current home’s worth, there are a number of tools available to determine market value. This home valuation cannot replace an appraisal or similar report rendered by a licensed, professional appraiser or a Comparative Market Analysis (CMA) conducted by a real estate professional.
Median sales prices in San Mateo rose 30 percent from the previous January, reaching $1.31 million. Understanding factors such as the number of bedrooms and bathrooms, the land area and the geographic context of the property allows for a much more accurate analysis of the true value of movements across specific housing markets.