What Is My Home Worth in Billings MT?

What Is My home worth in Billings MT?

What is my home worth in Billings MT? Simple question, hard answer. I get this question all the time and the answer is not always easy. There are all kinds of issues that determine what your house is worth including size, location, number of bathrooms, number of bedrooms, decks, patios, fireplaces, garages, landscaping, renovations, yard size, upgrades, finishes, year built, current sales just to name a few.

My neighbors house sold for $300,000- Was this the listed price or the sales price. In Montana sales prices are not available. Only a member of a local MLS has access to that information. So even though you know what the listed price was you have no idea what the final sales price was and even if your neighbor was your best friend they might not tell you what they actually got for the house. And if there were seller concessions what they tell you might not be right. How does your house compare theirs?

County tax records say my house is worth $250,000- I believe that only God knows how the county appraises your house. I have yet to see a tax appraisal even close to what a house ends up selling at. The tax appraisal price might give you a general idea of what it might sell for but take it with a grain of salt

Zillow says my house is worth $375,000- You have been Zillowized. Again Montana does not have an available source for what houses have recently sold for. I am not sure what algorithm Zillow uses for their home values but it truly is just a guestamite.

I had an appraisal done and it says my house is worth $325,000- This may be true but why was the appraisal done in the first place and when was it done. Market trends and values can change from month to month so an appraisal may be out of date. Also appraisals are not always done with the eminent sale of your home in mind.

My realtor says my house is worth $290,000- Most realtors will have the most up to date sales records for your area and can pretty accurately come up with a good estimate of what your house may sell for in the current market.

In the end- Your house is worth what someone is willing to pay. And that is not final until the contract is signed and the deal closed and the money is in the bank.

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