Networth Tracking

posted 3 years ago in Money
Post # 3
Member
7281 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

I use redfin (a real estate site) to look at local sales in the last 6 months and use those as comparables to estimate our home’s current worth, and allow the website to run the calculation for me. Then I run that number past my realtor (she’s a friend) to see if it passes the laugh test. I also look at the average sale price per square foot as a quick and dirty proxy. The price per square foot in my zip code has increased $20 since we purchased. So as a rough estimate, at 2200 sq ft x $20 increase, our home’s value has gone up by $44,000. This isn’t the most accurate method for us because our zip code crosses several counties, with our county being the most desirable (and therefore most expensive). The other counties actually dilute the average increase, so our county has seen more appreciation than the averaged data would lead you to believe. All that said, it’s a fairly easy way to do it if I’m lazy.

Post # 5
Member
6073 posts
Bee Keeper
  • Wedding: August 2012

@AB Bride:  We have Zillow.com that can be used to house values for homes for sale near you.

 

There are also a couple homes right in my area that are for sale.  I look at their prices, we all have pretty much the same # of bedrooms/baths/sq.ft.  I look at them online, see if ours is nicer, not as nice, etc.  Then I adjust the price on my own to get my value used for net worth.  Kind of like doing my own “comps.”  I known in this area people get about 93-95% of their asking price (based on having sold a home myself and the little flyers I get from the realtor I used).

 

Post # 7
Member
6073 posts
Bee Keeper
  • Wedding: August 2012

@AB Bride:  I hope other Canadians can chime in about how to figure a rough house value!  Maybe ThisTimeRound would know for Canada?

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