Home values, free house values, house values, CMA, comp check, etc.  these area just some of the ways we refer to a homes value. As most of us have seen, there are different versions and reasons to seek out home values. 

One web site has based it's business on the belief that consumers will want a quick, free estimate of their homes value.  While Zillow has met this need, their home values are generally not very accurate and can not be used for anything more than satisfying your curiosity.

In the mortgage business we typically order a comp check before we procede with the mortgage.  This is a no cost professional opinion of the value provided by a licensed appraiser.  If the comp check comes in OK, we can proceed with the loan and order a full real estate appraisal knowing we won't waste the borrowers money on an appraisal that comes in light.

Realtors also offer something similar to the comp check called a CMA or comparative market analysis.  This is a servcie they provide to their listing clients to help them understand their homes value and what it should be priced at.

The third and most accurate version of home values or house values is an appraisal.  This is the most expensive and accurate of the three home values and it is required for most real estate transactions and refinance mortgages.

For a table comparing all three versions, visit www.MLSMaps.com/home-values.asp