| Calculate Value of Houses Online? And other housiung help... |
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BBKT
Member
Cash: $ 4.30
Posts: 17
Joined: 02 Mar 2009
Location: WA
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| Calculate Value of Houses Online? And other housiung help... |
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I have two homes and I'd like to find out how much they are worth. I have the first house I bought and lived in for several years, then the military forced us to relocate, so we boiught a second house and turned the first one into a rental. It's working out well for us right now and the money we are getting from the rent is covering the mortgage of that first house. Don't worry, we can cover both house payments on our own even without the rent money, so we are not over stretched.
We bought the first house for about $150,000 in early 2005. When the market was at it's peak, the estimated value was over 200,000. But then of course that went down and when we refinanced last year, it was valued at 185,000. So we are still ahead and have some equity in it. We refinanced at 80% of the house value in March 2008, but I'm wondering if the house is still worth close to that and where I can get a close estimate of the worth. Should I trust the county assessor's estimate?
Also, the house we bought last year, March 2008, we bought for 259,000. I'm assuming we are under water in it now, but I'd like to get an idea of what it is worth today.
I'm not looking to sell either home anytime soon, as I see them as long term investments that we are going to keep, pay off someday, and then do something with them in retirement (sell them in 40 years or reverse mortgage or something). Both houses are in 30 year fixed at 5.125% and I'm 25. I've got a long way to go till retirement- I know. But I just want to figure out if I'm doing the right thing and what my houses are worth.
I've tried HouseValues.com, but they won't let me proceed unless I'm looking to sell my house, and I'm not, and then they get realtors to call me. Ugh.
Thanks!
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Fri Mar 06, 2009 10:49 pm |
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coaster
Senior Advisor
Cash: $ 1356.20
Posts: 6678
Joined: 11 Oct 2005
Location: Wisconsin
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There are a couple of websites where you can look up the last assessed value of any house with a listed address. I don't know the name right off; you should be able to find them on Google. They always say the best way to estimate what a house is worth is what a similar house in the same neighborhood recently sold for. That information is public, and I think at your local county clerk's office.
~Tim~
Eye Candy : Why Whimsy
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Sat Mar 07, 2009 4:49 am |
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