AVMs use public records such as deeds of ownership, property transfers, tax assessments, as well as mathematical modeling for predicting the value of your home based on current sales and listing prices in your area.
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If you are interested in knowing what your home is worth, you can use an online home value estimator. It is a useful tool for determining the value of your home, and the technical term for such tools is AVM or automated valuation model, and you can find one on real estate sites.
Use an AVM
Real estate professionals and lenders use different AVMs. Such tools use a confidence score for indicating how accurate the AVM provider evaluates an estimate is to market value. For instance, a 90 percent confidence score means the estimate is within 10 percent of market value, though every AVM calculates confidence score their way.
Comparative market analysis
If you want to go into further detail about your home value, you can consider asking a real estate agent near you regarding a CMA, or comparative market analysis.
Though it does not offer as much detail as a professional appraisal, it can provide an evaluation of your home and market done by an agent, providing an estimate of value, generally for listing purposes.
Hiring a professional appraiser
Lenders ask for home appraisal before approving a mortgage. As a homeowner, you can consider hiring a professional appraiser for estimating the value of your home at any time. An experienced appraiser provides a value based on the specific needs of their clients. For example, some may want the recent market value regarding the purchase or refinance, while others may need a value for a date in the past.
Note
If you know the value of your home, you will be able to assess your affordability, determining if a listing is priced accurately, and deciding how to price your home. If you are seeking Houses for sale in Milton, you must consider the valuation first because home equity lines of credit, refinance, property taxes, and insurance premiums are all based on the value of the home.

PAT KAKAR & PAM BHASIN
Sales Representative
RE/MAX Real Estate Centre Inc, Brokerage
Cell: 416-271-5784
Off: 905-878-7777
www.yourproperty.ca