Home sale prices are public information. Zillow has assembled that information and developed a formula that considers “zillions” to create a home value estimate for about 67 million properties nationwide.

Zestimate’s include a low value, a high value, and a number somewhere inbetween that is Zillow’s best estimate. But Zillow’s Zestimate is not perfect. Because Zillow’s estimate is 100% dependent on the amount of data they place into their “secret formula,” a Zestimate can be inaccurate. The wider a home value range on a Zestimate, the less data Zillow has, the less accurate a Zestimate.

Upon receiving a Zestimate, Zillow highly recommends home owners use the number as a “starting point in figuring out the true value of a house.” While the public information Zillow uses in its equation is effective in determining a starting point for a homes value, the Zestimate equation has never stepped foot inside a home to review a homes condition or a evaluate a homeowners sense of color.

Zillow does recommend hiring a professional appraiser or receiving a Comparative Market Analysis (CMA) from a real estate agent after discovering their best guess at your home value.

If connecting with a real estate agent and receiving a free, no-obligation home value estimate is something you’re interested in doing now that you’ve learned the ins and outs of the Zillow Zestimate, GetMyHomesValue.com can connect you with a local real estate agent. To get started, simply type your zip code in the box in the top right corner and follow the instructions on the next page.

Recruiting a home appraiser in the early stages of deciding whether or not to sell your home can be a pricey and lengthy process. To secure a home appraiser, plan on booking an appointment at least two weeks in advance and spending somewhere between $300 and $500 for their services.

Not to say that home appraisals aren’t valuable. No two homes are identical, so having an independent third party with knowledge of your local real estate market is great to be able to compare “apples to oranges.”

What if there was a way to save the expense and wait of hiring an appraiser and STILL getting an idea of how much your house is worth? Homeowners deciding whether or not to refinance or sell their home can save that appraisal expense by connecting with a local real estate agent and receiving a free Comparative Market Analysis (CMA). CMAs often provide similar information to a report from a certified home appraiser, and experienced real estate agents often come close to an appraisal price.

GetMyHomesValue connects homeowners with local real estate agents. To receive a free, no obligation CMA today from an agent in your area, type your zip code in the box in the top right corner and follow the instructions on the next page.

While Congress continues to debate the next steps for helping the financial markets, what effects will this government bailout have on the housing market?

For a recap of the historic vote on the $700 billiion emergency bailout, click here.

The bloggers behind GetMyHomesValue.com’s Home Value blog have been feverishly searching the web for the best analysis online about the impact of the bailout on the housing market.

Check back frequently for an ongoing, updated list of the latest news about the housing market and the bailout online.

LATEST UPDATE: 9/30/2008, 12:17 p.m.

• House Urged To Revisit Bailout Vote 9/30/2008 (Inman News)
• Bailout’s Failure Bad News For Housing Market 9/29/08 (International Herald Tribune)
• Bailout Package Necessary, But Only First Step 9/29/08 (Center for American Progress)
• Ultimate Cost of Plan to Take Years to Determine 9/29/08 (Wall Street Journal)
• The Long And Short Of Bailout Impacts 9/26/08 (Inman News)
• House Prices And A Bailout: What Gives? 9/25/08 (Motley Fool)
• What Bailout Means For The Housing Market 9/25/2008 (Las Vegas Sun)
• Will Bailout Help the Real Estate Market 9/22/2008 (NPR)
• Bailout May Give Housing Market Some Breathing Room 9/22/2008 (LA Times)

• Half of the nation’s MSAs (Metropolitan Statistical Areas) show price appreciation when refinancing appraisals are considered. (The Real Estate Bloggers)
• 35 states showed positive first quarter appreciation when compared to the same quarter of 2007. (RISMedia)

Many markets across the country seem to be stable. Why is there so much hype of gloom and doom in the housing market? A case of signal to noise ratio, say some.

How should Real Estate Agents respond to the “gloom and doom?”

So what are real estate agents to do to calm fears of home sellers in today’s market? Get their voice heard above the static. Online is obviously the place to go to make your voice heard, where any agent can reach up to 80% of its audience through the creation of a blog or website.

One important thing agents should remember during a down time is to not cut marketing spend, says GetMyHomesValue.com’s Dave Conklin. In an article published today in the online edition of RISMedia, featuring GetMyHomesValue.com, Conklin notes that even at the expense of personal income, “marketing is the last thing any business owner should cut during an industry down time.”

GetMyHomesValue.com connects real estate agents with local clients who want to discover their home value and need help with real estate services. For more information on their industry-leading suite of internet marketing services designed specifically for real estate agents, call 877-545-3237.

Who Should You Hire to Discover Your Your Homes Value?

Unfortunately, most people are not real estate professionals. Without having the knowledge of the current state of the housing market in your area, how can you truly assess the value of your home? Simple - recruit a professional real estate agent.

Why Should I Consult A Real Estate Agent?

Neighborhood sale prices and bedroom/bathroom counts are obviously important in determining how much your house is worth, but computer programs don’t have the ability to consider the “human element” of the housing market. Without hiring a real estate professional to perform your house appraisal, the only thing you can do is wonder - how much is my house worth?

GetMyHomesValue.com connects people just like you with local real estate agents who want to help you discover your true homes value and help with any real estate needs.