How Does Eppraisal Determine Home Values?


Quick Answer

Eppraisal determines home values by assessing the value of nearby comparable homes, a home's vital statistics, the performance of the local market and the desirability of the local community. Clients can estimate home values by entering physical addresses and browsing through recent sales in the region, states Eppraisal.

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Full Answer

Eppraisal maintains a public records database that contains the statistics of recent home sales in all states. The service allows home sellers to browse through listings of recent home sales in their city or street address and estimate the value of their homes based on the listed prices. Clients can contact professional real estate agents from the company to get accurate valuations of their homes, according to Eppraisal. The agents also give advice on mortgage and refinance rates.

Eppraisal's professional real estate agents use a home's vital statistics such as its square footage, amenities, lot size and upgrades to determine the value of a home. Homes that look identical from the outside may have different values because of their interior conditions. The value of neighboring homes and the performance of the local real estate market also determine the value of a home. Eppraisal agents also look at a home's proximity to social amenities such as schools, shopping malls, entertainment and other attractions, explains Eppraisal.

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