Home Value Research
When performing Home Value Research for your loan modification, its important to use multible sources to discover the value of your home. Use the average from these three resources to get a more accurate estimate of your homes current value. Zillow is an excellent tool for your home value research. The home value research tools list homes currently for sale, homes sold recently, and valuable information about existing home values. Zillow's easy to use map interface allows you to zoom in to a particular street and analyze the value of all surrounding homes.
When performing your home value research pay extra attention to recent home sales in the area you are searching in. Its no secret that the real estate market is declining, and homes are selling for much less than they are worth. The estimate these home value research tools give you for your home, can be higher or lower than what you can actually sell your home for. You can get a more accurate estimate by taking into account the sale prices of similar homes in your area...
Home Value Research Tools
Property’s Current Fair Market Value Statement
Template
Borrower’s Name: ___________________________
Lender’s Name: _________________________
Property Address: ___________________________
Contact Phone Number: (___) ______________
Lender’s Name: _____________________________
Loan Number: _____________________
We, (Enter Borrower’s Name), have determined our estimated current property value to be (Enter Amount Here) based on the average values we have received from:
- WWW.ZILLOW.COM – Lists estimated home values based on recent sales available through public records with the County Clerk’s Office.
- WWW.CYBERHOMES.COM – Lists estimated home values based on recent sales available through public records with the County Clerk’s Office and MLS Sales.
- WWW.REALESTATE.COM – Lists current properties for sale in community and recent sales activity. User is able to search and compare like kind properties.
Note: Reports received from the above sources have been attached to this statement.
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