In the News

How Much Is Your Home Worth?

A story in the Salt Lake Tribune outlined how homeowners can find out what their homes are worth.

"It doesn't matter what you paid for your home," the story said. "It also doesn't matter how much you owe on your mortgage. What your neighbor sold his home for six months ago? Nope. Also irrelevant is what the home down the street is listed for now."

Micah Pearson, a REALTOR with Keller Williams Utah Realty in Salt Lake City, said that selecting properties that have sold recently is important and the next best thing to an appraisal.

Bill Heiner, president of the Salt Lake Board of Realtors, said homeowners should be wary of sites like Zillow.com. Heiner said Zillow is about $80,000 to $90,000 off in the value of his home. "Zillow is a pretty worthless tool in Utah," he said.