1) Insurance Coverage
It's always a good idea to ensure your insurance coverage is up to date with the changing value of your home. Click here for an article I wrote a few years ago on home insurance coverage; it’s worth revisiting this as it could save your home!
2) Time to Sell
For some, their retirement plan may be cashing out equity on a California home so they can buy a home outright in a less-expensive market. For instance, you may owe $300k on a home that is now worth $600k. Your best financial move could be to take that $300k (minus selling expenses) and purchase a $150k home elsewhere, pocketing the rest for retirement. Now you have money in the bank and no house payment. Knowing your home value helps you better assess these options.
3) Possible Refinance
There are still a number of people who have a home loan at an interest rate well above the current market, or who have an adjustable rate loan because they haven’t had the equity to refinance. Home values change constantly and knowing these changes may provide an opportunity to improve your home loan.
4) Property Taxes
Property taxes are largely determined based on your home’s value. Knowing this value may help you renegotiate your taxes with you taxing authority. Click here for more information on how property taxes are calculated.
Free Offer To Get Your Accurate Home Value
There are many ways to find out the value of your home. You can search online websites like Zillow.com or RedFin.com.
But the best way is to have a professional provide you with a report specific to your property, using up-to-date information. We have arranged for you to obtain a free report** on your property from a professional Realtor, all you have to do is contact us with this request. Now who doesn't like free?!
**This offer expires December 10, 2014