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Here Are 6 Free Hacks To Help Estimate What Your Home Is Truly Worth

Here Are 6 Free Hacks To Help Estimate What Your Home Is Truly Worth

As a homeowner considering selling your most valuable asset, your home, it can be frustrating to not have access to the same tools that would make quick work for any licensed real estate agent to estimate your home’s actual value. Yet, as an ordinary citizen, you may have spent hours or even days on end navigating popular websites that might help you find out what your home is worth.

If that’s you, then worry not, because as you can see in the graphic below, well over 27,000 home owners just like you have googled the key words “how much is my house worth”, just in the last 30 days alone.

Ahrefs' How Much Is My House Worth Search Volume

    With numbers this staggering, and because we know that many homeowners become frustrated with realtors and want to sell their home without using a realtor …We thought that it was time to share some little known free hacks to estimate the current value of your home (on your own).

    1. Use Free Online Home Value Estimators like Zillow

    It’s not a secret that Zillow has a free home appraisal calculator built into it’s real estate website, but is it accurate in determining what your home is worth? Zillow has reduced it’s 2006 error rate of 13.6% down to a current error rate of only 7.9%, according to Zillow‘s own research.

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    So should you solely use Zillow? No, but you should absolutely find the Zestimate for your specific property, write it down and see how it compares to the other figures that you will gather later.

    2. Generate Legitimate Offers From Real Investors

    As a seasoned real estate investor of over 5 years, I’ve spoken to and dealt with many homeowners that say they “need to sell”, yet they were hesitant to sell to me at my price. Why? Not because my offer was too low; it was because they didn’t feel that they knew exactly how much their house was really worth.

    So, to ease their concern about value, they went through the extra leg work to contact a few other investors and also got offers from them. They then compared those offers against mine to give them a better picture of their current “as-is” cash value of their home. But why not take it one step further and ask each investor that you meet with, to tell you what they would sell the house for, once any improvements were completed.

    This is an excellent way to get a good ballpark figure of your home’s value, based on the hard work & research of 3 unbiased investors.

    3. Research Your local Courthouse Deeds of Trusts

    Most homeowners don’t have enough experience in the real estate arena to know what they don’t know. In regards to finding your home’s value using guerrilla techniques, you might not know that researching your local courthouse’s deeds of trusts could help you get a very good idea of what homes are selling for in your very neighborhood. Here’s one way to go about finding a deed of trust:

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    1. Using your local County Appraiser’s Website, enter your street name or a street nearby where you live

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      2. Find a house that has a Deed date of within the last 12 months, like this one

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        3. Enter the home’s legal description into your County’s Clerk Office Records Website

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          4. In the search results, find the last Deed of Trust filed. Click on it…you’ll see the buyer’s loan amount when they purchased the property

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            Once you have the property’s loan amount and loan type (e.g. conventional/FHA/ VA), you can easily work your way backwards to get an idea of what the home probably sold for. For example, most FHA buyers finance the full 96.5% of the purchase, so calculate ($174,000 X 1.0362 = $180,298).

            This hack will get you very close to the total purchase price of the house, however, this method works best with FHA buyers. Many times the deed of trust will specify if it was an FHA loan or not.

            4. Estimate Value Based on Your Home’s Appraised Tax Value

            Having run hundreds if not thousands of comparable sales in my career as a Realtor/Investor, I have found that in my county (most likely many counties are the same), a properties assessed tax appraised value is equal to about 88-92% of it’s market value. This means that if a home’s market value is $100,000, then most likely its tax appraised value will be in the range of $88,000 to $92,000.

            If you’re county appraiser’s tax rolls are closely aligned to actual market values like this, then this quick hack may work for you.

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            5. Call For Sale Signs in Your Neighborhood

            FILE - In this Thursday, Jan. 8, 2015, file photo, a "sale pending" sits atop a realty sign outside a home for sale in Surfside, Fla. The National Association of Realtors releases its pending home sales index for June on Wednesday, July 29, 2015. (AP Photo/Wilfredo Lee, File)

              Sure, if you’ve ever purchased a home, you already know that if you’ll call an agent’s for sale sign the agent will tell you the home’s current list price, square footage, and beds/baths of a home, but they won’t and simply can’t tell you what it’ll actually sell for. That’s because they don’t know…unless it’s under contract or pending sale.

              If you’ll simply ask the agent if the home is still available, and they say “no, it’s pending sale or under contract”, then you next question should be; Is it selling for close to list price? If the agent answer’s “yes” or “yes, right at list price”, then you basically just received a “real-time” value of your home (considering the home is very similar to yours).

              6. Get Comps From Someone You Already Know

              Asking someone you know that has their real estate license for advice is probably one of the easiest and least time consuming ways to get an extremely accurate value of your home. Why? Because real estate agents have access to their local MLS, which is chock-full of “real-time” sales data in your area. As a current licensee, I have never told a friend or a friend of family that I wouldn’t run a comparable sales report for them, so why not work through your existing Rolodex and call around to see who you know that knows an agent?

              More by this author

              James Vasquez

              Real Estate Investor

              Man focused on selling his home himself Here’s 4 Reasons Why You Shouldn’t Sell Your House Yourself Here Are 6 Free Hacks To Help Estimate What Your Home Is Truly Worth Here Are 6 Free Hacks To Help Estimate What Your Home Is Truly Worth 5 Signs It's Time To Fire Your Real Estate Agent 5 Signs That It’s Time To Fire Your Realtor

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              1The Importance of Reminders (And How to Make a Reminder That Works) 240 Top Productivity Apps for iPhone (2018 Updated) 3How to Overcome Procrastination and Start Doing What Matters 4Is Procrastination Bad? The Truth About Procrastination Revealed 5The Gentle Art of Saying No

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              Last Updated on August 16, 2018

              The Importance of Reminders (And How to Make a Reminder That Works)

              The Importance of Reminders (And How to Make a Reminder That Works)

              No matter how well you set up your todo list and calendar, you aren’t going to get things done unless you have a reliable way of reminding yourself to actually do them.

              Anyone who’s spent an hour writing up the perfect grocery list only to realize at the store that they forgot to bring the list understands the importance of reminders.

              Reminders of some sort or another are what turn a collection of paper goods or web services into what David Allen calls a “trusted system”.

              A lot of people resist getting better organized. No matter what kind of chaotic mess, their lives are on a day-to-day basis because they know themselves well enough to know that there’s after all that work they’ll probably forget to take their lists with them when it matters most.

              Fortunately, there are ways to make sure we remember to check our lists — and to remember to do the things we need to do, whether they’re on a list or not.

              In most cases, we need a lot of pushing at first, for example by making a reminder, but eventually we build up enough momentum that doing what needs doing becomes a habit — not an exception.

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              The power of habit

              A habit is any act we engage in automatically without thinking about it.

              For example, when you brush your teeth, you don’t have to think about every single step from start to finish; once you stagger up to the sink, habit takes over (and, really, habit got you to the sink in the first place) and you find yourself putting toothpaste on your toothbrush, putting the toothbrush in your mouth (and never your ear!), spitting, rinsing, and so on without any conscious effort at all.

              This is a good thing because if you’re anything like me, you’re not even capable of conscious thought when you’re brushing your teeth.

              The good news is you already have a whole set of productivity habits you’ve built up over the course of your life. The bad news is, a lot of them aren’t very good habits.

              That quick game Frogger to “loosen you up” before you get working, that always ends up being six hours of Frogger –– that’s a habit. And as you know, habits like that can be hard to break — which is one of the reasons why habits are so important in the first place.

              Once you’ve replaced an unproductive habit with a more productive one, the new habit will be just as hard to break as the old one was. Getting there, though, can be a chore!

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              The old saw about anything you do for 21 days becoming a habit has been pretty much discredited, but there is a kernel of truth there — anything you do long enough becomes an ingrained behavior, a habit. Some people pick up habits quickly, others over a longer time span, but eventually, the behaviors become automatic.

              Building productive habits, then, is a matter of repeating a desired behavior over a long enough period of time that you start doing it without thinking.

              But how do you remember to do that? And what about the things that don’t need to be habits — the one-off events, like taking your paycheck stubs to your mortgage banker or making a particular phone call?

              The trick to reminding yourself often enough for something to become a habit, or just that one time that you need to do something, is to interrupt yourself in some way in a way that triggers the desired behavior.

              The wonderful thing about triggers (reminders)

              A trigger is anything that you put “in your way” to remind you to do something. The best triggers are related in some way to the behavior you want to produce.

              For instance, if you want to remember to take something to work that you wouldn’t normally take, you might place it in front of the door so you have to pick it up to get out of your house.

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              But anything that catches your attention and reminds you to do something can be a trigger. An alarm clock or kitchen timer is a perfect example — when the bell rings, you know to wake up or take the quiche out of the oven. (Hopefully you remember which trigger goes with which behavior!)

              If you want to instill a habit, the thing to do is to place a trigger in your path to remind you to do whatever it is you’re trying to make into a habit — and keep it there until you realize that you’ve already done the thing it’s supposed to remind you of.

              For instance, a post-it saying “count your calories” placed on the refrigerator door (or maybe on your favorite sugary snack itself)  can help you remember that you’re supposed to be cutting back — until one day you realize that you don’t need to be reminded anymore.

              These triggers all require a lot of forethought, though — you have to remember that you need to remember something in the first place.

              For a lot of tasks, the best reminder is one that’s completely automated — you set it up and then forget about it, trusting the trigger to pop up when you need it.

              How to make a reminder works for you

              Computers and ubiquity of mobile Internet-connected devices make it possible to set up automatic triggers for just about anything.

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              Desktop software like Outlook will pop up reminders on your desktop screen, and most online services go an extra step and send reminders via email or SMS text message — just the thing to keep you on track. Sandy, for example, just does automatic reminders.

              Automated reminders can help you build habits — but it can also help you remember things that are too important to be trusted even to habit. Diabetics who need to take their insulin, HIV patients whose medication must be taken at an exact time in a precise order, phone calls that have to be made exactly on time, and other crucial events require triggers even when the habit is already in place.

              My advice is to set reminders for just about everything — have them sent to your mobile phone in some way (either through a built-in calendar or an online service that sends updates) so you never have to think about it — and never have to worry about forgetting.

              Your weekly review is a good time to enter new reminders for the coming weeks or months. I simply don’t want to think about what I’m supposed to be doing; I want to be reminded so I can think just about actually doing it.

              I tend to use my calendar for reminders, mostly, though I do like Sandy quite a bit.

              Featured photo credit: Unsplash via unsplash.com

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