Massachusetts Home Value Finder
Like most things in life, you get what you pay for and finding the true value of your home is no different.
It is an inexact science, but the best method for determining a property's worth is through an appraisal. An appraisal report is completed by a independent, licensed appraiser who has completed years of training, but the cost for such a report ranges from $300-$500.
The next best method for finding the value of a home is a Comparable Market Analysis and the good news is that it is usually free! The problem is that CMAs are completed by real estate agents and if you are selling your home yourself, that presents a dilemma. In addition, some real estate agents are more experienced than others so the quality of the CMA depends heavily on the individual real estate agent you use. Use the wrong one or one that is more concerned about getting your listing and telling you what you want to hear
The third method for coming up with a property's value is a computer-generated appraisal based on automated valuation models (AVM). The cost for an AVM ranges from $5-$25 which is certainly affordable, but they are generated by statistical models based on past sales that can prove to be untrustworthy.
The final but least trustworthy method of home valuation is through online home valuation websites. These websites are similar to AVMs in that they use statistical models based on past sales, but they are less rigorous and do not have access to the same quality of home sales data.
