2020 Boise Idaho Real Estate Blog

A Credible Third Party Source for Estimating Exisiting Home Values Main Boise Home Builder
Here is a tool provided by a credible third party to help home owners estimate the value of their existing home.

In my previous blog post titled Housing Affordability and Realistic Expectations, I commented about the apparent unrealistic expectation the average home owner has regarding the value of their existing home.  If you are a home owner considering purchasing a new home but have an existing home to sell, or if you are a Realtor working with a home owner to list their existing home, or if you are a Realtor working with a buyer who has an existing home to sell, the Office of Federal Housing Enterprise Oversight (OFHEO) provides an easy to use House Price Calculator. The calculator uses the OFHEO Housing Price Index for the area and calculates the value bases on the average appreciation for all homes in the area based on the original purchase price and date of purchase.

The website notes that when using the House Price Calculator, it does not project the actual value of any particular house. Rather, it projects what a given house purchased at a point in time would be worth today if it appreciated at the average appreciation rate of all homes in the area. The actual value of any house will depend on the local real estate market, house condition and age, home improvements made and needed, and many other factors.  But it's a good place to start.

 Chuck Miller

President / Builder - Chuck Miller Construction Inc.

www.chuckmillerconstruction.com

 
Posted by Chuck Miller at 3/30/2008 8:05:00 PM
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