Home Values Determined by Comparable Sales

Dear Dr. Dave and Dr. Dee,

We are considering selling our home and moving closer to my mother within the next year or two. We bought a home a little over 6 years ago, and wondered if the value has at least doubled? We do not want to spend money on an appraisal just yet. We just want to see if we would make a good profit if we sell.

Signed,

Pondering prices

Dear Pondering prices,

To get an idea of what your home may be worth, you can explore home prices in your area by going to zillow.com. Zillow.com provides prices and property information along with maps of the homes in the neighborhood and surrounding areas.

Compare your home to other homes that have recently sold within the last six months. Real estate appraisers determine the value of property by using comparable sales data.

To get the most accurate comparable data, try to match your home with homes having these similar characteristics:

1. Location: similar neighborhood, nearby grocery stores, shops, restaurants, schools, traffic.

2. Size: total square footage of home and lot, number of rooms, bedrooms, bathrooms, garage.

3. Age: how old is the home, any major remodeling.

4. Amenities: view, pool, great room, mother-in-law quarters.

In addition, depending on where you live the definition of a full bathroom can vary. But, generally, bathrooms are counted as follows:

Full bath (1): toilet, sink, bathtub and shower.

Three-fourths bath (3/4): toilet, sink, and shower.

Half bath (1/2): toilet and sink.

To see homes and prices, go to www.zillow.com