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Determining the value of your home can often be confusing. If you have ever been involved in the sale of a home you have heard many different terms referring to the value of the property. There are many ways to determine value. Each process has a different meaning and many times the numbers do not correspond with each other. Below is an explanation to help clarify that verbiage. An understanding of these terms and processes will assist you in making informed intelligent decisions. Assessed Value - Typically determined by an assessor who works for the county of which the property is located. Numerous factors are evaluated to determine the assessed value; such as size, improvements, location, and condition. The assessed value of the home is used only for determining property taxes. Many times this valuation is very different from the market value or asking price of a home listed for sale.Market Value - This is what determines the listing price of a home. This number can change often depending on the housing market conditions in your area. Market value is what a buyer would be willing to pay for your home. A Real Estate Professional can assist you in determining this number. Again, they will look at many factors such as condition and location to determine this value. An agent will examine comparable properties for sale, recently sold, and supply/demand to come up with a list price for your home. It is a realtor's goal to price and sell your home for the highest dollar in the shortest amount of time. List price does not determine market value, it only determines how long your home will be on the market. Listing your home for sale at the best market value price is key to a quick profitable sale.Appraised Value - Appraised value of your home will often fluctuate much less often than market value. Appraised value is used to calculate replacement costs and investment risk. This is determined by a professional appraiser typically on the behalf of a bank or mortgage company. It can also be used for insurance purposes and for figuring net worth and tax losses. Zestimate - Many buyers today look to the website Zillow to help determine the value of their home. Please be very careful if and when using this number to price your property. Zillow calculates a home value based on the average of sales in your neighborhood. This site does not consider comparable or like properties, condition, amenities, or location. It is simply an average of recent sales reported by the county in which the property is located.