Using an Online Home Value Estimator

There are several online tools that can help you determine your home's value, many of which are free. Before you use these tools, realize they are not a replacement for an official appraisal. They will, however, give you a ballpark figure, which will take away some of the guesswork.

Popular websites such as Zillow, HouseFront, and Domania provide home estimates based on a combination of factors. Square footage, year built, and number of bedrooms and bathrooms are factored into the estimate. These online tools also factor in the sale price of comparable neighborhood homes.

While these sites have revolutionized the real estate market, they may provide somewhat inaccurate data. Constantly adjusting algorithms to better track all of a home's attributes, these sites are improving. Compare the estimate on the screen with the asking price on flyers for homes in your neighborhood.