Until your home sells to a willing buyer and the sale is closed, nobody knows for sure how much your home is really worth. But there are three methods that will help guesstimate your home’s fair market value until you actually close the sale. Internet market-value estimates. Don’t laugh! In the last few years, computerized Internet market-value estimates for houses and condominiums have become remarkably accurate. My first experience with an Internet appraisal was three years ago when I obtained a home equity credit line secured by my vacation-home condo. I estimated it was worth $125,000 at the time. But Wells Fargo Bank used a computerized appraisal to determine the market value was $150,000 so they approved a $100,000 credit line without a formal appraisal. Real Estate Riches: How to Become Rich Using Your Banker\'s Money

Today, homeowners can obtain free Internet market-value estimates from several sources. The newest is at www.Zillow.com. This advertiser-driven Web site seems quite accurate, based on several properties I entered where I am familiar with their market values. However, Zillow doesn’t yet cover the entire nation so don’t be disappointed if your home isn’t included. What I found especially amazing is Zillow includes, in most situations, an aerial photo of the property and even the lot boundary lines! In another situation where I entered a condominium along with the value estimate, Zillow included a map showing the precise location.

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