My Home Value searches a database of over 80 Million sales records on over 100 Million homes across the country and only uses the most complete and updated information available. My Home Value uses 3 main property valuation components in valuing your home:
1. The My Home Value Report statistically calculates the homes value using all known property characteristics including square footage, room counts, lot size and many other property data elements. It then uses that property information to select recent comparable home sales in the neighborhood refered to in the mortgage industy as "Comps" to further enhance the accuracy of the homes estimated value.
2. Tax-Assessed values are a secondary valuation technique that the My Home Value Report uses to calculate an accurate and updated home value estimate.
3. The My Home Value Report also uses the calculation of percentage changes in a homes value over time known as Home Price Indexes.

In addition to getting a value for the home, the My Home Value Report will also provide you with other useful property characteristics information. Depending on the State and the County, some property information may not be available due to incomplete court house records or nondisclosure restrictions set by the State. My Home Value Reports on properties that do not have data restrictions typically include:
- Full address details and property type
- Most recent sale data including purchase date, purchase price, and owner(s) name
- Prior sales date, sales price and sellers name
- Year built, APN (Parcel Number) and square footage
-

Information on five recent comparable home sales in your neighborhood

- Comparable property information including sales price, sales date, $/SQFT calculation, lot size, year built, etc.

First of all a Comparative Market Analysis (CMA) does not provide you with instant values online like the My Home Value system. You may have to wait days even weeks before getting any information.

Secondly, the CMA is free because after filling out the long list of property information "you have to provide", someone simply gets a Realtor to contact you and give you their "opinion" on what your home is worth. Remember that Realtors are out to make their 6% and may be biased on your homes valuation in an attempt to gain your listing.

Our values are completely computer generated using methodologies tested by some of the top Banks and Mortgage Lenders across the country as well as many Wall Street firms.

This is not an appraisal and should not be considered as an appraisal. An appraisal which normally costs $350 - $500 must be completed by a state certified professional and can take 5-10 days to complete. An appraisal requires the certified professional to physically inspect the subject property and support the value of that property with recent comparable home sales (Comps) in the area.



Home Loans
Realtors
For Sale By Owner
Mortgage Calculators

Copyright 2007 MyHomeValue.com All Rights Reserved